Wellington Management Group LLP bought a new stake in shares of Leggett & Platt, Incorporated (NYSE:LEG - Free Report) in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 1,155,286 shares of the company's stock, valued at approximately $15,735,000. Wellington Management Group LLP owned about 0.86% of Leggett & Platt at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. Allspring Global Investments Holdings LLC grew its stake in Leggett & Platt by 76.3% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 2,043 shares of the company's stock valued at $28,000 after buying an additional 884 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new position in Leggett & Platt in the third quarter valued at about $29,000. Point72 Hong Kong Ltd acquired a new position in Leggett & Platt in the third quarter valued at about $37,000. Fifth Third Bancorp lifted its stake in Leggett & Platt by 367.8% in the second quarter. Fifth Third Bancorp now owns 3,396 shares of the company's stock valued at $39,000 after buying an additional 2,670 shares in the last quarter. Finally, nVerses Capital LLC bought a new stake in Leggett & Platt in the 3rd quarter valued at approximately $41,000. Institutional investors and hedge funds own 64.23% of the company's stock.
Leggett & Platt Stock Down 1.8 %
Shares of LEG traded down $0.21 during mid-day trading on Friday, reaching $11.25. The company had a trading volume of 1,790,315 shares, compared to its average volume of 2,243,343. The company has a market capitalization of $1.51 billion, a price-to-earnings ratio of -1.87 and a beta of 1.07. The company has a debt-to-equity ratio of 2.13, a quick ratio of 0.84 and a current ratio of 1.48. The firm has a 50-day moving average price of $12.31 and a 200 day moving average price of $12.31. Leggett & Platt, Incorporated has a 52 week low of $10.11 and a 52 week high of $27.58.
Leggett & Platt (NYSE:LEG - Get Free Report) last announced its quarterly earnings results on Monday, October 28th. The company reported $0.32 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.33 by ($0.01). The company had revenue of $1.10 billion for the quarter, compared to analysts' expectations of $1.10 billion. Leggett & Platt had a negative net margin of 18.53% and a positive return on equity of 14.99%. The business's revenue was down 6.3% compared to the same quarter last year. During the same period in the previous year, the business earned $0.36 EPS. On average, sell-side analysts forecast that Leggett & Platt, Incorporated will post 1.05 EPS for the current year.
Leggett & Platt Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Friday, December 13th will be issued a $0.05 dividend. This represents a $0.20 annualized dividend and a dividend yield of 1.78%. The ex-dividend date of this dividend is Friday, December 13th. Leggett & Platt's payout ratio is currently -3.33%.
Analysts Set New Price Targets
A number of brokerages recently commented on LEG. Piper Sandler upgraded shares of Leggett & Platt from an "underweight" rating to a "neutral" rating and upped their price target for the company from $11.00 to $13.00 in a research note on Wednesday, October 30th. StockNews.com raised shares of Leggett & Platt from a "sell" rating to a "hold" rating in a report on Wednesday, August 28th. Four investment analysts have rated the stock with a hold rating, According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $12.67.
Read Our Latest Stock Analysis on LEG
Leggett & Platt Profile
(
Free Report)
Leggett & Platt, Incorporated designs, manufactures, and sells engineered components and products in the United States, Europe, China, Canada, Mexico, and internationally. It operates through three segments: Bedding Products; Specialized Products; and Furniture, Flooring & Textile Products. The company offers steel rods, drawn wires, specialty foam chemicals and additives, innersprings, specialty foam for use in bedding and furniture, private label finished mattresses, ready-to-assemble mattress foundations, static foundations, and adjustable beds, as well as machines for producing innersprings; industrial sewing and quilting machines; mattress-packaging; and glue-drying equipment for various industrial users of steel rod and wire, manufacturers of finished bedding, bedding brands and mattress retailers, E-commerce retailers, big box retailers, department stores, and home improvement centers.
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