Counterpoint Mutual Funds LLC Invests $666,000 in Leggett & Platt, Incorporated (NYSE:LEG)

Counterpoint Mutual Funds LLC acquired a new position in Leggett & Platt, Incorporated (NYSE:LEG - Free Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 69,412 shares of the company's stock, valued at approximately $666,000. Counterpoint Mutual Funds LLC owned approximately 0.05% of Leggett & Platt at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Point72 Asia Singapore Pte. Ltd. bought a new position in Leggett & Platt during the third quarter valued at about $29,000. SRS Capital Advisors Inc. increased its holdings in shares of Leggett & Platt by 555.8% during the fourth quarter. SRS Capital Advisors Inc. now owns 3,102 shares of the company's stock worth $30,000 after buying an additional 2,629 shares in the last quarter. Point72 Hong Kong Ltd bought a new position in shares of Leggett & Platt in the third quarter valued at approximately $37,000. Brooklyn Investment Group acquired a new position in shares of Leggett & Platt in the 3rd quarter worth approximately $44,000. Finally, SBI Securities Co. Ltd. bought a new stake in Leggett & Platt during the 4th quarter worth approximately $50,000. 64.23% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

LEG has been the topic of a number of recent analyst reports. The Goldman Sachs Group reduced their price objective 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. Truist Financial reduced their price target on shares of Leggett & Platt from $13.00 to $11.00 and set a "hold" rating on the stock in a research report on Wednesday, January 29th.

Remove Ads

Leggett & Platt Trading Down 1.0 %

Shares of NYSE LEG traded down $0.09 during midday trading on Friday, hitting $8.22. The stock had a trading volume of 21,124,416 shares, compared to its average volume of 2,294,280. The firm has a market cap of $1.11 billion, a P/E ratio of -2.20 and a beta of 1.11. Leggett & Platt, Incorporated has a fifty-two week low of $7.92 and a fifty-two week high of $19.33. The company has a debt-to-equity ratio of 2.70, a current ratio of 2.00 and a quick ratio of 1.14. The company's 50-day simple moving average is $9.69 and its 200 day simple moving average is $11.16.

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

Leggett & Platt Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Friday, March 14th will be given a dividend of $0.05 per share. The ex-dividend date of this dividend is Friday, March 14th. This represents a $0.20 annualized dividend and a dividend yield of 2.43%. Leggett & Platt's payout ratio is currently -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.