Two Sigma Advisers LP boosted its stake in Leggett & Platt, Inc. (NYSE:LEG) by 82.1% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 68,100 shares of the company’s stock after buying an additional 30,700 shares during the quarter. Two Sigma Advisers LP owned approximately 0.05% of Leggett & Platt worth $1,817,000 as of its most recent SEC filing.
A number of other large investors also recently modified their holdings of LEG. Charles Schwab Investment Advisory Inc. boosted its stake in shares of Leggett & Platt by 2.4% in the 4th quarter. Charles Schwab Investment Advisory Inc. now owns 3,571,760 shares of the company’s stock worth $181,553,000 after buying an additional 82,767 shares during the last quarter. ProShare Advisors LLC increased its position in shares of Leggett & Platt by 3.0% during the fourth quarter. ProShare Advisors LLC now owns 2,482,412 shares of the company’s stock valued at $126,181,000 after acquiring an additional 72,416 shares during the last quarter. Geode Capital Management LLC lifted its holdings in Leggett & Platt by 8.4% during the first quarter. Geode Capital Management LLC now owns 2,366,357 shares of the company’s stock worth $63,019,000 after acquiring an additional 183,875 shares during the period. Bank of New York Mellon Corp boosted its position in Leggett & Platt by 1.3% in the first quarter. Bank of New York Mellon Corp now owns 1,763,215 shares of the company’s stock worth $47,042,000 after purchasing an additional 22,881 shares during the last quarter. Finally, OLD Republic International Corp grew its stake in Leggett & Platt by 6.8% in the 1st quarter. OLD Republic International Corp now owns 1,406,500 shares of the company’s stock valued at $37,525,000 after purchasing an additional 90,000 shares during the period. Institutional investors and hedge funds own 69.25% of the company’s stock.
LEG has been the topic of a number of research analyst reports. Zacks Investment Research lowered shares of Leggett & Platt from a “hold” rating to a “sell” rating and set a $28.00 price target for the company. in a research report on Wednesday, April 1st. TheStreet lowered shares of Leggett & Platt from a “b” rating to a “c+” rating in a research note on Friday, March 6th. SunTrust Banks upped their price objective on Leggett & Platt from $27.00 to $30.00 and gave the company a “hold” rating in a research note on Monday, May 18th. Piper Sandler decreased their target price on Leggett & Platt from $47.00 to $35.00 and set a “neutral” rating for the company in a research report on Wednesday, April 15th. Finally, Raymond James boosted their target price on Leggett & Platt from $32.00 to $38.00 and gave the company a “strong-buy” rating in a research note on Thursday, May 28th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and one has given a strong buy rating to the company. The company has an average rating of “Hold” and an average price target of $34.17.
Leggett & Platt stock opened at $34.61 on Wednesday. The firm has a 50 day simple moving average of $32.26 and a 200 day simple moving average of $38.06. The company has a current ratio of 2.08, a quick ratio of 1.32 and a debt-to-equity ratio of 2.05. Leggett & Platt, Inc. has a 1-year low of $22.03 and a 1-year high of $55.42. The firm has a market capitalization of $4.29 billion, a price-to-earnings ratio of 14.67, a P/E/G ratio of 2.05 and a beta of 1.54.
Leggett & Platt (NYSE:LEG) last posted its quarterly earnings results on Monday, May 4th. The company reported $0.41 EPS for the quarter, topping the Zacks’ consensus estimate of $0.40 by $0.01. Leggett & Platt had a return on equity of 26.61% and a net margin of 6.86%. The firm had revenue of $1.05 billion during the quarter, compared to analyst estimates of $1.09 billion. During the same period last year, the company earned $0.49 earnings per share. The business’s revenue for the quarter was down 9.5% on a year-over-year basis. On average, equities research analysts forecast that Leggett & Platt, Inc. will post 1.22 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 15th. Shareholders of record on Monday, June 15th will be issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 4.62%. The ex-dividend date is Friday, June 12th. Leggett & Platt’s payout ratio is presently 62.26%.
Leggett & Platt Profile
Leggett & Platt, Incorporated designs and produces various engineered components and products worldwide. It operates through four segments: Residential Products, Furniture Products, Industrial Products, and Specialized Products. The Residential Products segment offers innersprings, wire forms, and machines to shape wire into various types of springs; industrial sewing/finishing machines, conveyor lines, mattress packaging, and glue-drying equipment, as well as quilting machines; and structural fabrics, carpet cushions, and geo components.
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