Quarry LP Purchases New Stake in Leggett & Platt, Incorporated (NYSE:LEG)

Quarry LP purchased a new stake in Leggett & Platt, Incorporated (NYSE:LEG) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 22,213 shares of the company’s stock, valued at approximately $213,000.

A number of other hedge funds also recently made changes to their positions in LEG. SRS Capital Advisors Inc. increased its position in shares of Leggett & Platt by 555.8% during the fourth 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 during the period. SBI Securities Co. Ltd. acquired a new stake in shares of Leggett & Platt during the fourth quarter worth $50,000. KBC Group NV increased its position in shares of Leggett & Platt by 74.5% during the fourth quarter. KBC Group NV now owns 7,028 shares of the company’s stock worth $67,000 after buying an additional 3,000 shares during the period. Sterling Capital Management LLC increased its position in shares of Leggett & Platt by 17.1% during the fourth quarter. Sterling Capital Management LLC now owns 7,972 shares of the company’s stock worth $77,000 after buying an additional 1,163 shares during the period. Finally, Blue Trust Inc. increased its position in shares of Leggett & Platt by 461.6% during the fourth quarter. Blue Trust Inc. now owns 9,688 shares of the company’s stock worth $93,000 after buying an additional 7,963 shares during the period. Hedge funds and other institutional investors own 64.23% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on LEG shares. The Goldman Sachs Group decreased their price objective on shares of Leggett & Platt from $14.00 to $12.00 and set a “neutral” rating for the company in a research report on Tuesday, January 14th. Piper Sandler restated a “neutral” rating and issued a $9.00 price target (down from $12.00) on shares of Leggett & Platt in a report on Friday, April 11th. Finally, Truist Financial reduced their price target on shares of Leggett & Platt from $13.00 to $11.00 and set a “hold” rating for the company in a report on Wednesday, January 29th.

Leggett & Platt Trading Down 1.8 %

NYSE:LEG opened at $7.29 on Monday. 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 capitalization of $982.21 million, a price-to-earnings ratio of -1.95 and a beta of 0.98. The firm has a fifty day simple moving average of $8.00 and a two-hundred day simple moving average of $10.08. Leggett & Platt, Incorporated has a 12 month low of $6.48 and a 12 month high of $18.39.

Leggett & Platt (NYSE:LEG) last issued its quarterly earnings data on Thursday, February 13th. The company reported $0.21 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.21. The firm had revenue of $1.06 billion during the quarter, compared to analysts’ expectations of $1.03 billion. Leggett & Platt had a negative net margin of 11.67% and a positive return on equity of 17.09%. Analysts expect that Leggett & Platt, Incorporated will post 1.14 EPS for the current fiscal year.

Leggett & Platt Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, April 15th. Stockholders of record on Friday, March 14th were issued a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a dividend yield of 2.74%. The ex-dividend date was Friday, March 14th. Leggett & Platt’s dividend payout ratio is currently -5.36%.

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.