Daiwa Securities Group Inc. Increases Stake in Leggett & Platt, Incorporated (NYSE:LEG)

Daiwa Securities Group Inc. grew its position in shares of Leggett & Platt, Incorporated (NYSE:LEG) by 38.9% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 46,322 shares of the company’s stock after buying an additional 12,979 shares during the quarter. Daiwa Securities Group Inc.’s holdings in Leggett & Platt were worth $445,000 as of its most recent filing with the SEC.

Other large investors also recently bought and sold shares of the company. PEAK6 Investments LLC purchased a new position in Leggett & Platt during the 3rd quarter worth $1,067,000. Verition Fund Management LLC raised its position in Leggett & Platt by 649.6% during the 3rd quarter. Verition Fund Management LLC now owns 97,675 shares of the company’s stock worth $1,330,000 after buying an additional 84,645 shares during the last quarter. FMR LLC increased its holdings in shares of Leggett & Platt by 3,264.5% in the 3rd 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 in the last quarter. Aigen Investment Management LP increased its holdings in shares of Leggett & Platt by 214.4% in the 4th quarter. Aigen Investment Management LP now owns 65,621 shares of the company’s stock valued at $630,000 after purchasing an additional 44,749 shares in the last quarter. Finally, JPMorgan Chase & Co. increased its holdings in shares of Leggett & Platt by 38.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 581,665 shares of the company’s stock valued at $7,922,000 after purchasing an additional 160,104 shares in the last quarter. Hedge funds and other institutional investors own 64.23% of the company’s stock.

Leggett & Platt Stock Performance

NYSE:LEG opened at $8.12 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 firm has a 50-day moving average price of $9.82 and a two-hundred day moving average price of $11.27. Leggett & Platt, Incorporated has a twelve month low of $7.92 and a twelve month high of $19.33. The company has a market capitalization of $1.09 billion, a P/E ratio of -2.18 and a beta of 1.11.

Leggett & Platt (NYSE:LEG) last posted its earnings results on Thursday, February 13th. The company reported $0.21 earnings per share for the quarter, meeting 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 firm had revenue of $1.06 billion during the quarter, compared to the consensus estimate of $1.03 billion. As a group, research analysts expect that Leggett & Platt, Incorporated will post 1.14 earnings per share for the current fiscal year.

Leggett & Platt Dividend Announcement

The firm 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 dividend of $0.05 per share. The ex-dividend date is Friday, March 14th. This represents a $0.20 annualized dividend and a yield of 2.46%. Leggett & Platt’s dividend payout ratio (DPR) is currently -5.36%.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on LEG shares. Truist Financial cut 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. The Goldman Sachs Group cut their price target on shares of Leggett & Platt from $14.00 to $12.00 and set a “neutral” rating for the company in a report on Tuesday, January 14th.

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.