Canada Pension Plan Investment Board Sells 39,300 Shares of Leggett & Platt, Incorporated (NYSE:LEG)

Canada Pension Plan Investment Board lessened its stake in shares of Leggett & Platt, Incorporated (NYSE:LEG - Free Report) by 90.3% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 4,200 shares of the company's stock after selling 39,300 shares during the quarter. Canada Pension Plan Investment Board's holdings in Leggett & Platt were worth $40,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. Counterpoint Mutual Funds LLC bought a new stake in Leggett & Platt during the fourth quarter valued at about $666,000. Vanguard Group Inc. grew its holdings in Leggett & Platt by 4.9% in the 4th quarter. Vanguard Group Inc. now owns 15,478,476 shares of the company's stock valued at $148,593,000 after buying an additional 722,024 shares during the last quarter. American Century Companies Inc. increased its position in Leggett & Platt by 50.3% in the 4th quarter. American Century Companies Inc. now owns 138,972 shares of the company's stock worth $1,334,000 after buying an additional 46,499 shares during the period. Trexquant Investment LP boosted its position in shares of Leggett & Platt by 89.0% in the fourth quarter. Trexquant Investment LP now owns 1,177,891 shares of the company's stock valued at $11,308,000 after acquiring an additional 554,814 shares during the period. Finally, Amundi grew its stake in shares of Leggett & Platt by 90.3% in the fourth quarter. Amundi now owns 82,890 shares of the company's stock worth $814,000 after acquiring an additional 39,324 shares during the last quarter. Institutional investors and hedge funds own 64.23% of the company's stock.

Analyst Ratings Changes

Several research firms have issued reports on LEG. Piper Sandler restated a "neutral" rating and issued a $9.00 price target (down from $12.00) on shares of Leggett & Platt in a research report on Friday, April 11th. The Goldman Sachs Group lowered their price target on Leggett & Platt from $14.00 to $12.00 and set a "neutral" rating on the stock in a research note on Tuesday, January 14th. Finally, 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 report on Wednesday, January 29th.

Leggett & Platt Price Performance

Shares of Leggett & Platt stock opened at $7.29 on Monday. The firm has a market cap of $982.21 million, a P/E ratio of -1.95 and a beta of 0.98. The firm's 50-day simple moving average is $8.00 and its 200-day simple moving average is $10.08. Leggett & Platt, Incorporated has a twelve month low of $6.48 and a twelve month high of $18.39. 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 (NYSE:LEG - Get Free Report) last released its quarterly earnings data on Thursday, February 13th. The company reported $0.21 earnings per share for the quarter, meeting the consensus estimate of $0.21. The company had revenue of $1.06 billion for the quarter, compared to analyst estimates of $1.03 billion. Leggett & Platt had a positive return on equity of 17.09% and a negative net margin of 11.67%. As a group, research analysts expect that Leggett & Platt, Incorporated will post 1.14 EPS for the current fiscal year.

Leggett & Platt Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Stockholders of record on Friday, March 14th were issued a $0.05 dividend. This represents a $0.20 annualized dividend and a dividend yield of 2.74%. The ex-dividend date was Friday, March 14th. Leggett & Platt's payout ratio is -5.36%.

About Leggett & Platt

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.

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