Fmr LLC Purchases 672,290 Shares of Leggett & Platt, Incorporated (NYSE:LEG)

FMR LLC raised its stake in shares of Leggett & Platt, Incorporated (NYSE:LEG - Free Report) by 3,264.5% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 692,884 shares of the company's stock after buying an additional 672,290 shares during the period. FMR LLC owned 0.52% of Leggett & Platt worth $9,437,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of LEG. Cetera Advisors LLC bought a new position in Leggett & Platt during the first quarter valued at about $418,000. CWM LLC increased its position in Leggett & Platt by 385.8% in the 2nd quarter. CWM LLC now owns 22,931 shares of the company's stock worth $263,000 after buying an additional 18,211 shares during the period. SG Americas Securities LLC lifted its holdings in shares of Leggett & Platt by 603.8% during the second quarter. SG Americas Securities LLC now owns 69,453 shares of the company's stock worth $796,000 after buying an additional 59,585 shares during the last quarter. Sequoia Financial Advisors LLC acquired a new position in shares of Leggett & Platt during the second quarter worth approximately $119,000. Finally, SteelPeak Wealth LLC lifted its holdings in shares of Leggett & Platt by 10.2% during the second quarter. SteelPeak Wealth LLC now owns 12,348 shares of the company's stock worth $142,000 after buying an additional 1,140 shares during the last quarter. 64.23% of the stock is currently owned by institutional investors.

Leggett & Platt Trading Down 1.2 %

NYSE:LEG traded down $0.14 during mid-day trading on Thursday, hitting $11.51. The company had a trading volume of 2,965,069 shares, compared to its average volume of 2,241,233. Leggett & Platt, Incorporated has a fifty-two week low of $10.11 and a fifty-two week high of $27.58. The business's fifty day moving average is $12.39 and its two-hundred day moving average is $12.29. The company has a debt-to-equity ratio of 2.13, a quick ratio of 0.84 and a current ratio of 1.48. The firm has a market cap of $1.55 billion, a P/E ratio of -1.94 and a beta of 1.07.

Leggett & Platt (NYSE:LEG - Get Free Report) last released its earnings results on Monday, October 28th. The company reported $0.32 earnings per share for the quarter, missing the consensus estimate 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 company had revenue of $1.10 billion during the quarter, compared to analyst estimates of $1.10 billion. During the same period in the previous year, the company posted $0.36 EPS. The company's quarterly revenue was down 6.3% compared to the same quarter last year. As a group, research analysts expect that Leggett & Platt, Incorporated will post 1.05 earnings per share for the current year.

Leggett & Platt Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Friday, December 13th will be given a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.74%. The ex-dividend date of this dividend is Friday, December 13th. Leggett & Platt's dividend payout ratio is currently -3.33%.

Analyst Ratings Changes

A number of research analysts have recently commented on the company. Piper Sandler upgraded Leggett & Platt from an "underweight" rating to a "neutral" rating and upped their price target for the stock from $11.00 to $13.00 in a report on Wednesday, October 30th. StockNews.com upgraded Leggett & Platt from a "sell" rating to a "hold" rating in a research note on Wednesday, August 28th. Four investment analysts have rated the stock with a hold rating, According to MarketBeat.com, Leggett & Platt currently has a consensus rating of "Hold" and an average target price of $12.67.

Leggett & Platt Profile

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.