JPMorgan Chase & Co. Purchases 160,104 Shares of Leggett & Platt, Incorporated (NYSE:LEG)

JPMorgan Chase & Co. lifted its stake in Leggett & Platt, Incorporated (NYSE:LEG - Free Report) by 38.0% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 581,665 shares of the company's stock after acquiring an additional 160,104 shares during the quarter. JPMorgan Chase & Co. owned 0.43% of Leggett & Platt worth $7,922,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in LEG. Pacer Advisors Inc. boosted its holdings 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 purchasing an additional 11,373,507 shares during the last quarter. State Street Corp boosted its stake in shares of Leggett & Platt by 0.6% in the 3rd quarter. State Street Corp now owns 4,437,066 shares of the company's stock worth $60,657,000 after buying an additional 27,693 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of Leggett & Platt by 2.9% in the third quarter. Geode Capital Management LLC now owns 2,156,322 shares of the company's stock worth $29,377,000 after acquiring an additional 60,166 shares during the period. AQR Capital Management LLC increased its position in Leggett & Platt by 1,098.0% during the second quarter. AQR Capital Management LLC now owns 2,005,408 shares of the company's stock valued at $22,160,000 after acquiring an additional 1,838,009 shares during the last quarter. Finally, Wellington Management Group LLP purchased a new stake in Leggett & Platt during the third quarter valued at $15,735,000. 64.23% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the company. Piper Sandler upgraded Leggett & Platt from an "underweight" rating to a "neutral" rating and boosted their price target for the company from $11.00 to $13.00 in a research note on Wednesday, October 30th. The Goldman Sachs Group decreased their price target on shares of Leggett & Platt from $14.00 to $12.00 and set a "neutral" rating on the stock in a research report on Tuesday. Four investment analysts have rated the stock with a hold rating, Based on data from MarketBeat.com, Leggett & Platt presently has an average rating of "Hold" and an average price target of $12.67.

Leggett & Platt Stock Performance

NYSE LEG traded up $0.37 on Wednesday, reaching $10.72. 1,710,335 shares of the stock were exchanged, compared to its average volume of 1,768,554. The company has a current ratio of 1.48, a quick ratio of 0.84 and a debt-to-equity ratio of 2.13. Leggett & Platt, Incorporated has a one year low of $9.18 and a one year high of $25.29. The firm has a market capitalization of $1.44 billion, a PE ratio of -1.78 and a beta of 1.11. The company's 50-day simple moving average is $11.06 and its two-hundred day simple moving average is $12.03.

Leggett & Platt (NYSE:LEG - Get Free Report) last issued 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). The firm had revenue of $1.10 billion during the quarter, compared to the consensus estimate of $1.10 billion. Leggett & Platt had a positive return on equity of 14.99% and a negative net margin of 18.53%. The company's quarterly revenue was down 6.3% on a year-over-year basis. During the same period in the prior year, the company posted $0.36 EPS. Analysts expect that Leggett & Platt, Incorporated will post 1.05 EPS for the current fiscal year.

Leggett & Platt Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders 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 yield of 1.87%. Leggett & Platt's payout ratio is -3.33%.

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.