Quantbot Technologies LP Acquires 218,786 Shares of Leggett & Platt, Incorporated (NYSE:LEG)

Quantbot Technologies LP grew its holdings in Leggett & Platt, Incorporated (NYSE:LEG) by 1,109.0% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 238,515 shares of the company’s stock after purchasing an additional 218,786 shares during the period. Quantbot Technologies LP’s holdings in Leggett & Platt were worth $2,733,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of LEG. International Assets Investment Management LLC acquired a new stake in Leggett & Platt in the fourth quarter valued at about $336,000. Teacher Retirement System of Texas boosted its stake in shares of Leggett & Platt by 22.0% in the 4th quarter. Teacher Retirement System of Texas now owns 25,042 shares of the company’s stock valued at $655,000 after purchasing an additional 4,521 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of Leggett & Platt by 12.4% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,373,959 shares of the company’s stock valued at $62,127,000 after purchasing an additional 262,145 shares during the last quarter. Vanguard Personalized Indexing Management LLC increased its position in Leggett & Platt by 149.1% during the 4th quarter. Vanguard Personalized Indexing Management LLC now owns 25,229 shares of the company’s stock worth $660,000 after purchasing an additional 15,101 shares in the last quarter. Finally, Janney Montgomery Scott LLC bought a new position in Leggett & Platt in the 4th quarter valued at approximately $3,210,000. Institutional investors and hedge funds own 64.23% of the company’s stock.

Analysts Set New Price Targets

LEG has been the topic of a number of research reports. Truist Financial boosted their target price on shares of Leggett & Platt from $11.00 to $13.00 and gave the stock a “hold” rating in a research note on Monday, August 5th. The Goldman Sachs Group lowered their target price on Leggett & Platt from $14.00 to $12.00 and set a “neutral” rating for the company in a report on Wednesday, July 10th. Finally, StockNews.com raised Leggett & Platt from a “sell” rating to a “hold” rating in a research note on Wednesday, August 28th. One analyst has rated the stock with a sell rating and three have given a hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $12.67.

Leggett & Platt Price Performance

LEG stock opened at $12.90 on Wednesday. The company has a debt-to-equity ratio of 2.55, a quick ratio of 0.88 and a current ratio of 1.53. Leggett & Platt, Incorporated has a 52-week low of $10.11 and a 52-week high of $27.58. The company has a market capitalization of $1.73 billion, a P/E ratio of -11.12 and a beta of 1.07. The company has a fifty day moving average price of $12.44 and a 200-day moving average price of $14.15.

Leggett & Platt (NYSE:LEG) last announced its earnings results on Thursday, August 1st. The company reported $0.29 EPS for the quarter, hitting the consensus estimate of $0.29. The firm had revenue of $1.13 billion for the quarter, compared to the consensus estimate of $1.13 billion. Leggett & Platt had a positive return on equity of 12.65% and a negative net margin of 18.05%. As a group, equities analysts expect that Leggett & Platt, Incorporated will post 1.14 EPS for the current year.

Leggett & Platt Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Friday, September 13th will be given a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a yield of 1.55%. The ex-dividend date is Friday, September 13th. Leggett & Platt’s dividend payout ratio is presently -17.24%.

Leggett & Platt Profile

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.