Wealthfront Advisers LLC Makes New $155,000 Investment in Leggett & Platt, Incorporated (NYSE:LEG)

Wealthfront Advisers LLC bought a new position in Leggett & Platt, Incorporated (NYSE:LEG) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 16,147 shares of the company’s stock, valued at approximately $155,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Charles Schwab Investment Management Inc. boosted its holdings in shares of Leggett & Platt by 4.7% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 4,751,066 shares of the company’s stock worth $45,610,000 after buying an additional 214,571 shares during the period. State Street Corp boosted its holdings in shares of Leggett & Platt by 0.6% during the third quarter. State Street Corp now owns 4,437,066 shares of the company’s stock worth $60,657,000 after purchasing an additional 27,693 shares during the period. Geode Capital Management LLC boosted its holdings in shares of Leggett & Platt by 2.9% during the third quarter. Geode Capital Management LLC now owns 2,156,322 shares of the company’s stock worth $29,377,000 after purchasing an additional 60,166 shares during the period. Wellington Management Group LLP acquired a new stake in shares of Leggett & Platt during the third quarter worth approximately $15,735,000. Finally, Invenomic Capital Management LP boosted its holdings in shares of Leggett & Platt by 384.1% during the third quarter. Invenomic Capital Management LP now owns 921,472 shares of the company’s stock worth $12,550,000 after purchasing an additional 731,132 shares during the period. 64.23% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts recently commented on the stock. The Goldman Sachs Group decreased 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. Truist Financial decreased 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 Price Performance

Shares of LEG opened at $8.06 on Tuesday. The firm has a market cap of $1.09 billion, a PE ratio of -2.16 and a beta of 1.11. The firm’s 50 day moving average price is $9.79 and its 200 day moving average price is $11.23. 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, Incorporated has a twelve month low of $7.92 and a twelve month high of $19.33.

Leggett & Platt (NYSE:LEG) last issued its quarterly earnings data on Thursday, February 13th. The company reported $0.21 earnings per share for the quarter, meeting the consensus estimate of $0.21. The firm 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, research analysts expect that Leggett & Platt, Incorporated will post 1.14 EPS for the current fiscal year.

Leggett & Platt Announces Dividend

The firm also recently disclosed 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 yield of 2.48%. The ex-dividend date of this dividend is Friday, March 14th. Leggett & Platt’s payout ratio is presently -5.36%.

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.