Leggett & Platt, Incorporated (NYSE:LEG) Shares Purchased by State of New Jersey Common Pension Fund D

State of New Jersey Common Pension Fund D lifted its stake in shares of Leggett & Platt, Incorporated (NYSE:LEG - Free Report) by 19.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 183,333 shares of the company's stock after purchasing an additional 29,924 shares during the quarter. State of New Jersey Common Pension Fund D owned about 0.14% of Leggett & Platt worth $1,760,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. PEAK6 Investments LLC purchased a new position in Leggett & Platt in the third quarter worth $1,067,000. Verition Fund Management LLC raised its position in Leggett & Platt by 649.6% in the third quarter. Verition Fund Management LLC now owns 97,675 shares of the company's stock worth $1,330,000 after acquiring an additional 84,645 shares in the last quarter. FMR LLC raised its position in Leggett & Platt by 3,264.5% in the third quarter. FMR LLC now owns 692,884 shares of the company's stock worth $9,437,000 after acquiring an additional 672,290 shares in the last quarter. JPMorgan Chase & Co. raised its position in Leggett & Platt by 38.0% in the third quarter. JPMorgan Chase & Co. now owns 581,665 shares of the company's stock worth $7,922,000 after acquiring an additional 160,104 shares in the last quarter. Finally, Centiva Capital LP purchased a new position in Leggett & Platt in the third quarter worth $654,000. Hedge funds and other institutional investors own 64.23% of the company's stock.

Leggett & Platt Price Performance

Leggett & Platt stock traded up $0.02 during trading hours on Friday, hitting $9.16. The stock had a trading volume of 2,588,772 shares, compared to its average volume of 1,807,799. 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 stock has a market capitalization of $1.23 billion, a price-to-earnings ratio of -2.45 and a beta of 1.12. Leggett & Platt, Incorporated has a 1-year low of $8.95 and a 1-year high of $21.03. The stock's fifty day moving average is $10.06 and its two-hundred day moving average is $11.57.

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

Leggett & Platt Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Friday, March 14th will be paid a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a dividend yield of 2.18%. The ex-dividend date is Friday, March 14th. Leggett & Platt's payout ratio is currently -5.36%.

Analyst Ratings Changes

Several research analysts have issued reports on the company. Truist Financial cut their price objective on Leggett & Platt from $13.00 to $11.00 and set a "hold" rating for the company in a research report on Wednesday, January 29th. The Goldman Sachs Group cut their price objective on Leggett & Platt from $14.00 to $12.00 and set a "neutral" rating for the company in a research report on Tuesday, January 14th. Four analysts have rated the stock with a hold rating, Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $12.00.

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.