Hotchkis & Wiley Capital Management LLC Has $6.90 Million Stake in Leggett & Platt, Incorporated (NYSE:LEG)

Hotchkis & Wiley Capital Management LLC cut its position in Leggett & Platt, Incorporated (NYSE:LEG - Free Report) by 17.7% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 506,880 shares of the company's stock after selling 108,790 shares during the quarter. Hotchkis & Wiley Capital Management LLC owned 0.38% of Leggett & Platt worth $6,904,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Allspring Global Investments Holdings LLC boosted its stake in Leggett & Platt by 76.3% in the third quarter. Allspring Global Investments Holdings LLC now owns 2,043 shares of the company's stock valued at $28,000 after buying an additional 884 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new position in Leggett & Platt during the third quarter worth about $29,000. Point72 Hong Kong Ltd bought a new position in shares of Leggett & Platt in the third quarter worth about $37,000. Fifth Third Bancorp boosted its stake in shares of Leggett & Platt by 367.8% in the 2nd quarter. Fifth Third Bancorp now owns 3,396 shares of the company's stock valued at $39,000 after purchasing an additional 2,670 shares in the last quarter. Finally, nVerses Capital LLC bought a new stake in shares of Leggett & Platt during the 3rd quarter valued at approximately $41,000. Institutional investors own 64.23% of the company's stock.

Leggett & Platt Trading Down 0.4 %

NYSE:LEG traded down $0.05 during mid-day trading on Friday, hitting $11.76. 1,597,620 shares of the company's stock were exchanged, compared to its average volume of 2,235,031. Leggett & Platt, Incorporated has a fifty-two week low of $10.11 and a fifty-two week high of $27.58. The company has a current ratio of 1.48, a quick ratio of 0.84 and a debt-to-equity ratio of 2.13. The firm has a market capitalization of $1.58 billion, a P/E ratio of -1.97 and a beta of 1.07. The company has a 50 day simple moving average of $12.54 and a 200-day simple moving average of $12.26.

Leggett & Platt (NYSE:LEG - Get Free Report) last issued 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). The business had revenue of $1.10 billion for the quarter, compared to analyst estimates of $1.10 billion. Leggett & Platt had a positive return on equity of 14.99% and a negative net margin of 18.53%. Leggett & Platt's revenue for the quarter was down 6.3% on a year-over-year basis. During the same quarter last year, the firm posted $0.36 EPS. 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 business also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Friday, December 13th will be paid a $0.05 dividend. The ex-dividend date is Friday, December 13th. This represents a $0.20 annualized dividend and a dividend yield of 1.70%. Leggett & Platt's payout ratio is -3.33%.

Wall Street Analyst Weigh In

LEG has been the subject of several research reports. Piper Sandler raised shares of Leggett & Platt from an "underweight" rating to a "neutral" rating and increased their price objective for the company from $11.00 to $13.00 in a research note 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 data from MarketBeat.com, Leggett & Platt presently has a consensus rating of "Hold" and a consensus 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.