Bryce Point Capital LLC Takes $418,000 Position in Leggett & Platt, Incorporated (NYSE:LEG)

Bryce Point Capital LLC purchased a new stake in Leggett & Platt, Incorporated (NYSE:LEG - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 43,521 shares of the company's stock, valued at approximately $418,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Point72 Asia Singapore Pte. Ltd. acquired a new stake in Leggett & Platt in the third quarter valued at approximately $29,000. SRS Capital Advisors Inc. lifted its position in Leggett & Platt by 555.8% in the 4th quarter. SRS Capital Advisors Inc. now owns 3,102 shares of the company's stock valued at $30,000 after acquiring an additional 2,629 shares in the last quarter. SBI Securities Co. Ltd. acquired a new position in Leggett & Platt during the 4th quarter valued at about $50,000. KBC Group NV increased its holdings in Leggett & Platt by 74.5% during the 4th quarter. KBC Group NV now owns 7,028 shares of the company's stock worth $67,000 after purchasing an additional 3,000 shares in the last quarter. Finally, Blue Trust Inc. raised its stake in shares of Leggett & Platt by 461.6% in the fourth quarter. Blue Trust Inc. now owns 9,688 shares of the company's stock worth $93,000 after purchasing an additional 7,963 shares during the last quarter. Institutional investors and hedge funds own 64.23% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have issued reports on the stock. The Goldman Sachs Group cut their price objective on shares of Leggett & Platt from $14.00 to $12.00 and set a "neutral" rating on the stock in a report on Tuesday, January 14th. Truist Financial reduced their price objective on Leggett & Platt from $13.00 to $11.00 and set a "hold" rating for the company in a research note on Wednesday, January 29th.

Leggett & Platt Price Performance

Leggett & Platt stock traded down $0.59 during midday trading on Thursday, reaching $6.90. 514,298 shares of the stock were exchanged, compared to its average volume of 2,466,878. The company's fifty day moving average is $8.77 and its 200-day moving average is $10.64. The company has a debt-to-equity ratio of 2.70, a quick ratio of 1.14 and a current ratio of 2.00. Leggett & Platt, Incorporated has a 52 week low of $6.66 and a 52 week high of $18.58. The firm has a market cap of $929.13 million, a PE ratio of -1.85 and a beta of 0.98.

Leggett & Platt (NYSE:LEG - Get Free Report) last announced its earnings results on Thursday, February 13th. The company reported $0.21 earnings per share for the quarter, hitting analysts' consensus estimates of $0.21. Leggett & Platt had a positive return on equity of 17.09% and a negative net margin of 11.67%. The business had revenue of $1.06 billion for the quarter, compared to analyst estimates of $1.03 billion. On average, sell-side analysts forecast that Leggett & Platt, Incorporated will post 1.14 EPS for the current year.

Leggett & Platt Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Friday, March 14th will be paid a $0.05 dividend. The ex-dividend date of this dividend is Friday, March 14th. This represents a $0.20 dividend on an annualized basis and a yield of 2.90%. Leggett & Platt's dividend payout ratio is presently -5.36%.

Leggett & Platt Company Profile

Leggett & Platt, Inc engages in the manufacture and distribution of furniture and engineered components and products among homes, offices, automobiles, and commercial aircraft. It operates through the following segments: Bedding Products, Specialized Products, and Furniture, Flooring & Textile Products.