Wellington Management Group LLP Increases Stock Position in Leggett & Platt, Incorporated (NYSE:LEG)

Wellington Management Group LLP lifted its holdings in Leggett & Platt, Incorporated (NYSE:LEG - Free Report) by 3.0% in the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 1,190,258 shares of the company's stock after acquiring an additional 34,972 shares during the quarter. Wellington Management Group LLP owned 0.89% of Leggett & Platt worth $11,426,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in the business. Counterpoint Mutual Funds LLC purchased a new stake in Leggett & Platt during the fourth quarter valued at about $666,000. Vanguard Group Inc. grew its position in Leggett & Platt by 4.9% during the 4th quarter. Vanguard Group Inc. now owns 15,478,476 shares of the company's stock worth $148,593,000 after acquiring an additional 722,024 shares during the last quarter. American Century Companies Inc. increased its stake in Leggett & Platt by 50.3% in the 4th quarter. American Century Companies Inc. now owns 138,972 shares of the company's stock worth $1,334,000 after purchasing an additional 46,499 shares during the period. Amundi increased its stake in shares of Leggett & Platt by 90.3% in the fourth quarter. Amundi now owns 82,890 shares of the company's stock worth $814,000 after buying an additional 39,324 shares during the period. Finally, AXQ Capital LP bought a new stake in Leggett & Platt during the 4th quarter valued at $771,000. Hedge funds and other institutional investors own 64.23% of the company's stock.

Leggett & Platt Stock Down 1.2 %

Shares of NYSE LEG traded down $0.09 during mid-day trading on Tuesday, hitting $6.74. 300,451 shares of the stock traded hands, compared to its average volume of 2,479,016. The company has a market cap of $907.43 million, a price-to-earnings ratio of -1.81 and a beta of 0.98. The stock has a fifty day moving average price of $8.56 and a 200-day moving average price of $10.48. Leggett & Platt, Incorporated has a 52 week low of $6.54 and a 52 week high of $18.49. The company has a debt-to-equity ratio of 2.70, a quick ratio of 1.14 and a current ratio of 2.00.

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

Leggett & Platt Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Friday, March 14th will be issued a $0.05 dividend. This represents a $0.20 annualized dividend and a yield of 2.97%. The ex-dividend date of this dividend is Friday, March 14th. Leggett & Platt's dividend payout ratio (DPR) is -5.36%.

Analyst Ratings Changes

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

Leggett & Platt Company 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.