Leggett & Platt, Incorporated (NYSE:LEG) Shares Bought by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. increased its position in Leggett & Platt, Incorporated (NYSE:LEG) by 4.7% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 4,751,066 shares of the company’s stock after acquiring an additional 214,571 shares during the period. Charles Schwab Investment Management Inc.’s holdings in Leggett & Platt were worth $45,610,000 at the end of the most recent quarter.

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

Wall Street Analysts Forecast Growth

LEG has been the subject of a number of research analyst reports. The Goldman Sachs Group dropped 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 note on Tuesday, January 14th. Truist Financial dropped their price target on shares of Leggett & Platt from $13.00 to $11.00 and set a “hold” rating for the company in a research report on Wednesday, January 29th.

Leggett & Platt Stock Performance

NYSE:LEG opened at $8.12 on Friday. The firm’s fifty day simple moving average is $9.84 and its 200 day simple moving average is $11.32. The firm has a market capitalization of $1.09 billion, a price-to-earnings ratio of -2.18 and a beta of 1.11. Leggett & Platt, Incorporated has a twelve month low of $7.92 and a twelve month high of $19.33. The company has a current ratio of 2.00, a quick ratio of 1.14 and a debt-to-equity ratio of 2.70.

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

Leggett & Platt Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Friday, March 14th will be given a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a dividend yield of 2.46%. The ex-dividend date of this dividend is 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.