Leggett & Platt, Incorporated (NYSE:LEG) Holdings Lifted by GAMMA Investing LLC

GAMMA Investing LLC boosted its holdings in Leggett & Platt, Incorporated (NYSE:LEG) by 2,069.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 12,302 shares of the company’s stock after acquiring an additional 11,735 shares during the quarter. GAMMA Investing LLC’s holdings in Leggett & Platt were worth $118,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of LEG. Arizona State Retirement System increased its holdings in shares of Leggett & Platt by 2.2% in the second quarter. Arizona State Retirement System now owns 37,438 shares of the company’s stock valued at $429,000 after buying an additional 799 shares in the last quarter. Allspring Global Investments Holdings LLC raised its position in shares of Leggett & Platt by 76.3% during the third quarter. Allspring Global Investments Holdings LLC now owns 2,043 shares of the company’s stock worth $28,000 after purchasing an additional 884 shares during the period. Applied Capital LLC FL raised its holdings in Leggett & Platt by 5.4% during the 3rd quarter. Applied Capital LLC FL now owns 25,987 shares of the company’s stock worth $354,000 after buying an additional 1,327 shares during the period. Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of Leggett & Platt in the third quarter worth about $29,000. Finally, Bleakley Financial Group LLC increased its position in shares of Leggett & Platt by 8.1% in the third quarter. Bleakley Financial Group LLC now owns 33,352 shares of the company’s stock worth $454,000 after acquiring an additional 2,501 shares in the last quarter. 64.23% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Separately, Piper Sandler upgraded shares of Leggett & Platt from an “underweight” rating to a “neutral” rating and upped their price target for the company from $11.00 to $13.00 in a research report on Wednesday, October 30th. Four research analysts have rated the stock with a hold rating, According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $12.67.

Leggett & Platt Trading Down 0.4 %

Shares of NYSE LEG opened at $9.79 on Friday. The firm has a market capitalization of $1.31 billion, a PE ratio of -1.63 and a beta of 1.11. Leggett & Platt, Incorporated has a one year low of $9.18 and a one year high of $26.07. The company has a current ratio of 1.48, a quick ratio of 0.84 and a debt-to-equity ratio of 2.13. The business has a 50-day moving average price of $11.24 and a two-hundred day moving average price of $12.06.

Leggett & Platt (NYSE:LEG) last posted its quarterly earnings results on Monday, October 28th. The company reported $0.32 EPS for the quarter, missing the consensus estimate of $0.33 by ($0.01). Leggett & Platt had a negative net margin of 18.53% and a positive return on equity of 14.99%. The company had revenue of $1.10 billion for the quarter, compared to analysts’ expectations of $1.10 billion. During the same quarter in the prior year, the firm earned $0.36 earnings per share. The company’s revenue was down 6.3% on a year-over-year basis. As a group, analysts predict that Leggett & Platt, Incorporated will post 1.05 earnings per share for the current fiscal year.

Leggett & Platt Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Friday, December 13th will be given a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a yield of 2.04%. The ex-dividend date is Friday, December 13th. Leggett & Platt’s payout ratio is presently -3.33%.

About Leggett & Platt

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.