Mirae Asset Global Investments Co. Ltd. Has $498,000 Stock Holdings in Leggett & Platt, Incorporated (NYSE:LEG)

Mirae Asset Global Investments Co. Ltd. grew its stake in shares of Leggett & Platt, Incorporated (NYSE:LEG) by 32.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 19,039 shares of the company’s stock after purchasing an additional 4,662 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in Leggett & Platt were worth $498,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of LEG. Ramirez Asset Management Inc. purchased a new position in Leggett & Platt during the 3rd quarter worth approximately $25,000. Fifth Third Bancorp grew its holdings in shares of Leggett & Platt by 253.3% during the fourth quarter. Fifth Third Bancorp now owns 1,007 shares of the company’s stock valued at $26,000 after buying an additional 722 shares in the last quarter. Hexagon Capital Partners LLC raised its position in Leggett & Platt by 67.5% during the third quarter. Hexagon Capital Partners LLC now owns 1,930 shares of the company’s stock valued at $49,000 after buying an additional 778 shares during the period. Covestor Ltd lifted its stake in Leggett & Platt by 17.6% in the 3rd quarter. Covestor Ltd now owns 3,575 shares of the company’s stock worth $91,000 after acquiring an additional 535 shares in the last quarter. Finally, Cary Street Partners Investment Advisory LLC boosted its position in Leggett & Platt by 18.5% during the 3rd quarter. Cary Street Partners Investment Advisory LLC now owns 3,888 shares of the company’s stock worth $99,000 after acquiring an additional 606 shares during the period. Institutional investors and hedge funds own 64.23% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the company. Truist Financial dropped their target price on Leggett & Platt from $18.00 to $16.00 and set a “hold” rating on the stock in a report on Tuesday, March 26th. TheStreet downgraded shares of Leggett & Platt from a “c” rating to a “d+” rating in a research report on Monday, March 11th. Finally, StockNews.com lowered shares of Leggett & Platt from a “hold” rating to a “sell” rating in a research note on Monday, March 11th. Two analysts have rated the stock with a sell rating and two have given a hold rating to the company. According to MarketBeat, Leggett & Platt presently has an average rating of “Hold” and a consensus price target of $19.33.

Leggett & Platt Trading Down 1.3 %

Shares of NYSE LEG opened at $17.96 on Friday. The business has a 50 day simple moving average of $19.20 and a 200 day simple moving average of $22.49. Leggett & Platt, Incorporated has a 52 week low of $17.19 and a 52 week high of $33.50. The stock has a market cap of $2.40 billion, a price-to-earnings ratio of -17.96 and a beta of 1.17. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.84 and a current ratio of 1.49.

Leggett & Platt (NYSE:LEG) last posted its earnings results on Friday, February 9th. The company reported $0.26 EPS for the quarter, missing the consensus estimate of $0.27 by ($0.01). The business had revenue of $1.12 billion during the quarter, compared to the consensus estimate of $1.11 billion. Leggett & Platt had a positive return on equity of 11.99% and a negative net margin of 2.90%. The business’s revenue was down 6.7% on a year-over-year basis. During the same period in the prior year, the firm earned $0.39 earnings per share. On average, research analysts predict that Leggett & Platt, Incorporated will post 1.17 earnings per share for the current fiscal year.

Leggett & Platt Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Friday, March 15th were given a dividend of $0.46 per share. This represents a $1.84 annualized dividend and a yield of 10.24%. The ex-dividend date of this dividend was Thursday, March 14th. Leggett & Platt’s payout ratio is -184.00%.

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.