Connor Clark & Lunn Investment Management Ltd. Boosts Holdings in Leggett & Platt, Incorporated (NYSE:LEG)

Connor Clark & Lunn Investment Management Ltd. grew its position in Leggett & Platt, Incorporated (NYSE:LEG - Free Report) by 79.9% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 540,503 shares of the company's stock after acquiring an additional 240,108 shares during the period. Connor Clark & Lunn Investment Management Ltd. owned 0.40% of Leggett & Platt worth $5,189,000 as of its most recent filing with the SEC.

Other hedge funds also recently modified their holdings of the company. HighTower Advisors LLC acquired a new stake in shares of Leggett & Platt in the fourth quarter valued at about $97,000. Wealthfront Advisers LLC acquired a new stake in Leggett & Platt during the 4th quarter valued at approximately $155,000. Inspire Advisors LLC raised its holdings in Leggett & Platt by 6.9% during the 4th quarter. Inspire Advisors LLC now owns 137,127 shares of the company's stock worth $1,316,000 after purchasing an additional 8,818 shares during the last quarter. Daiwa Securities Group Inc. lifted its position in shares of Leggett & Platt by 38.9% in the 4th quarter. Daiwa Securities Group Inc. now owns 46,322 shares of the company's stock worth $445,000 after purchasing an additional 12,979 shares during the period. Finally, Amundi boosted its stake in shares of Leggett & Platt by 90.3% in the 4th quarter. Amundi now owns 82,890 shares of the company's stock valued at $814,000 after purchasing an additional 39,324 shares during the last quarter. Institutional investors and hedge funds own 64.23% of the company's stock.

Wall Street Analyst Weigh In

LEG has been the topic of several research analyst reports. Truist Financial cut their target price on shares of Leggett & Platt from $13.00 to $11.00 and set a "hold" rating on the stock in a research note on Wednesday, January 29th. The Goldman Sachs Group reduced their target price on Leggett & Platt from $14.00 to $12.00 and set a "neutral" rating for the company in a research note on Tuesday, January 14th.

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Leggett & Platt Stock Performance

LEG traded up $0.03 during midday trading on Thursday, reaching $8.29. The company had a trading volume of 2,284,793 shares, compared to its average volume of 2,043,328. The business has a 50-day moving average price of $9.72 and a two-hundred day moving average price of $11.18. 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 12-month low of $7.91 and a 12-month high of $19.33. The stock has a market cap of $1.12 billion, a PE ratio of -2.22 and a beta of 1.11.

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

Leggett & Platt Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Friday, March 14th will be given 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 dividend yield of 2.41%. Leggett & Platt's dividend payout ratio (DPR) is presently -5.36%.

Leggett & Platt 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.