Raymond James Financial Inc. Invests $575,000 in Leggett & Platt, Incorporated (NYSE:LEG)

Raymond James Financial Inc. bought a new position in shares of Leggett & Platt, Incorporated (NYSE:LEG - Free Report) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 59,936 shares of the company's stock, valued at approximately $575,000.

Other large investors have also recently made changes to their positions in the company. CIBC Asset Management Inc grew its stake in Leggett & Platt by 7.7% in the fourth quarter. CIBC Asset Management Inc now owns 13,986 shares of the company's stock worth $134,000 after purchasing an additional 1,001 shares in the last quarter. SRS Capital Advisors Inc. grew its position in shares of Leggett & Platt by 555.8% during the 4th 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. KBC Group NV raised its holdings in shares of Leggett & Platt by 74.5% in the fourth quarter. KBC Group NV now owns 7,028 shares of the company's stock valued at $67,000 after acquiring an additional 3,000 shares in the last quarter. Jones Financial Companies Lllp lifted its stake in Leggett & Platt by 29.3% in the fourth quarter. Jones Financial Companies Lllp now owns 13,529 shares of the company's stock worth $130,000 after acquiring an additional 3,069 shares during the period. Finally, Stifel Financial Corp grew its holdings in Leggett & Platt by 3.9% during the 3rd quarter. Stifel Financial Corp now owns 84,996 shares of the company's stock worth $1,158,000 after acquiring an additional 3,202 shares in the last quarter. 64.23% of the stock is owned by hedge funds and other institutional investors.

Leggett & Platt Stock Performance

Shares of NYSE LEG traded down $0.12 during midday trading on Friday, reaching $6.83. The company had a trading volume of 2,621,912 shares, compared to its average volume of 2,485,981. Leggett & Platt, Incorporated has a 1 year low of $6.54 and a 1 year high of $18.49. The business's 50-day simple moving average is $8.63 and its 200 day simple moving average is $10.55. The company has a current ratio of 2.00, a quick ratio of 1.14 and a debt-to-equity ratio of 2.70. The stock has a market cap of $920.50 million, a P/E ratio of -1.83 and a beta of 0.98.

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

Leggett & Platt Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Friday, March 14th will be issued a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a dividend yield of 2.93%. The ex-dividend date of this dividend is Friday, March 14th. Leggett & Platt's dividend payout ratio (DPR) is -5.36%.

Wall Street Analyst Weigh In

Several research firms have recently commented on LEG. The Goldman Sachs Group reduced their price target on shares of Leggett & Platt from $14.00 to $12.00 and set a "neutral" rating for the company in a report on Tuesday, January 14th. Truist Financial dropped their target price on Leggett & Platt from $13.00 to $11.00 and set a "hold" rating on the stock in a research note on Wednesday, January 29th. Finally, Piper Sandler reiterated a "neutral" rating and issued a $9.00 price target (down from $12.00) on shares of Leggett & Platt in a research note on Friday.

Leggett & Platt Profile

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.