Connor Clark & Lunn Investment Management Ltd. Sells 55,546 Shares of Leggett & Platt, Incorporated (NYSE:LEG)

Connor Clark & Lunn Investment Management Ltd. reduced its holdings in Leggett & Platt, Incorporated (NYSE:LEG - Free Report) by 15.6% during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 300,395 shares of the company's stock after selling 55,546 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned 0.22% of Leggett & Platt worth $4,091,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. Pacer Advisors Inc. grew its position in Leggett & Platt by 426.2% in the second quarter. Pacer Advisors Inc. now owns 14,042,134 shares of the company's stock worth $160,923,000 after acquiring an additional 11,373,507 shares in the last quarter. AQR Capital Management LLC boosted its holdings in shares of Leggett & Platt by 1,098.0% in the 2nd quarter. AQR Capital Management LLC now owns 2,005,408 shares of the company's stock worth $22,160,000 after purchasing an additional 1,838,009 shares in the last quarter. Public Sector Pension Investment Board bought a new position in shares of Leggett & Platt during the 2nd quarter valued at about $3,380,000. Invenomic Capital Management LP purchased a new position in shares of Leggett & Platt during the 1st quarter valued at about $4,203,000. Finally, Quantbot Technologies LP lifted its position in Leggett & Platt by 1,109.0% in the 2nd quarter. Quantbot Technologies LP now owns 238,515 shares of the company's stock worth $2,733,000 after buying an additional 218,786 shares during the last quarter. Hedge funds and other institutional investors own 64.23% of the company's stock.

Leggett & Platt Trading Up 2.2 %

LEG traded up $0.25 during trading on Friday, hitting $11.66. 1,745,694 shares of the stock traded hands, compared to its average volume of 1,777,193. The firm has a 50-day moving average of $12.67 and a 200 day moving average of $12.25. Leggett & Platt, Incorporated has a 12-month low of $10.11 and a 12-month high of $27.58. The firm has a market capitalization of $1.57 billion, a P/E ratio of -1.94 and a beta of 1.07. The company has a debt-to-equity ratio of 2.13, a current ratio of 1.48 and a quick ratio of 0.84.

Leggett & Platt (NYSE:LEG - Get Free Report) last released its quarterly earnings results on Monday, October 28th. The company reported $0.32 EPS for the quarter, missing analysts' consensus estimates of $0.33 by ($0.01). Leggett & Platt had a negative net margin of 18.53% and a positive return on equity of 14.99%. The business had revenue of $1.10 billion for the quarter, compared to the consensus estimate of $1.10 billion. During the same period in the previous year, the company earned $0.36 EPS. The company's revenue for the quarter was down 6.3% on a year-over-year basis. Equities research analysts anticipate that Leggett & Platt, Incorporated will post 1.05 EPS for the current year.

Leggett & Platt Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Friday, December 13th will be issued a $0.05 dividend. The ex-dividend date is Friday, December 13th. This represents a $0.20 annualized dividend and a yield of 1.72%. Leggett & Platt's dividend payout ratio (DPR) is presently -3.33%.

Analyst Upgrades and Downgrades

Several research analysts have commented on LEG shares. StockNews.com raised shares of Leggett & Platt from a "sell" rating to a "hold" rating in a research note on Wednesday, August 28th. Piper Sandler raised shares of Leggett & Platt from an "underweight" rating to a "neutral" rating and boosted their price target for the stock from $11.00 to $13.00 in a research note on Wednesday, October 30th. Finally, Truist Financial upped their price target on shares of Leggett & Platt from $11.00 to $13.00 and gave the company a "hold" rating in a research report on Monday, August 5th. Four equities research analysts have rated the stock with a hold rating, According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $12.67.

About Leggett & Platt

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.