Verition Fund Management LLC boosted its position in Leggett & Platt, Incorporated (NYSE:LEG - Free Report) by 649.6% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 97,675 shares of the company's stock after buying an additional 84,645 shares during the period. Verition Fund Management LLC owned approximately 0.07% of Leggett & Platt worth $1,330,000 at the end of the most recent quarter.
Other institutional investors have also added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD increased its stake in Leggett & Platt by 26.0% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 72,502 shares of the company's stock valued at $1,389,000 after purchasing an additional 14,971 shares in the last quarter. Comerica Bank lifted its holdings in shares of Leggett & Platt by 2.4% in the first quarter. Comerica Bank now owns 68,968 shares of the company's stock valued at $1,321,000 after purchasing an additional 1,633 shares in the last quarter. Cetera Advisors LLC purchased a new position in shares of Leggett & Platt during the first quarter valued at approximately $418,000. CWM LLC grew its holdings in Leggett & Platt by 385.8% during the second quarter. CWM LLC now owns 22,931 shares of the company's stock worth $263,000 after buying an additional 18,211 shares in the last quarter. Finally, Simplicity Wealth LLC bought a new stake in Leggett & Platt during the second quarter worth $354,000. 64.23% of the stock is owned by institutional investors and hedge funds.
Leggett & Platt Stock Performance
LEG traded down $0.04 during trading on Friday, hitting $11.77. 1,597,629 shares of the company traded hands, compared to its average volume of 1,471,642. The company has a quick ratio of 0.84, a current ratio of 1.48 and a debt-to-equity ratio of 2.13. The firm has a market cap of $1.58 billion, a P/E ratio of -1.96 and a beta of 1.07. Leggett & Platt, Incorporated has a one year low of $10.11 and a one year high of $27.58. The stock's fifty day moving average is $12.49 and its 200 day moving average is $12.26.
Leggett & Platt (NYSE:LEG - Get Free Report) last posted its quarterly 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 positive return on equity of 14.99% and a negative net margin of 18.53%. The firm had revenue of $1.10 billion for the quarter, compared to the consensus estimate of $1.10 billion. During the same quarter in the previous year, the company posted $0.36 EPS. The firm's revenue was down 6.3% compared to the same quarter last year. As a group, equities analysts predict 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. Investors of record on Friday, December 13th 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 1.70%. The ex-dividend date of this dividend is Friday, December 13th. Leggett & Platt's payout ratio is currently -3.33%.
Analysts Set New Price Targets
Several brokerages have weighed in on LEG. Piper Sandler upgraded Leggett & Platt from an "underweight" rating to a "neutral" rating and raised their price objective for the company from $11.00 to $13.00 in a research note on Wednesday, October 30th. StockNews.com upgraded shares of Leggett & Platt from a "sell" rating to a "hold" rating in a report on Wednesday, August 28th. Four equities research analysts have rated the stock with a hold rating, According to MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $12.67.
Check Out Our Latest Stock Report on Leggett & Platt
Leggett & Platt Company Profile
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Free Report)
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.
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