Diversified Trust Co Invests $255,000 in Leggett & Platt, Incorporated (NYSE:LEG)

Diversified Trust Co acquired a new stake in Leggett & Platt, Incorporated (NYSE:LEG) in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund acquired 26,569 shares of the company’s stock, valued at approximately $255,000.

A number of other large investors have also recently bought and sold shares of LEG. Pacer Advisors Inc. raised its position in shares of Leggett & Platt by 426.2% in the second quarter. Pacer Advisors Inc. now owns 14,042,134 shares of the company’s stock valued at $160,923,000 after purchasing an additional 11,373,507 shares during the period. AQR Capital Management LLC grew its stake in Leggett & Platt by 1,098.0% in the 2nd quarter. AQR Capital Management LLC now owns 2,005,408 shares of the company’s stock valued at $22,160,000 after buying an additional 1,838,009 shares during the last quarter. Wellington Management Group LLP acquired a new position in Leggett & Platt during the 3rd quarter worth $15,735,000. Invenomic Capital Management LP lifted its position in Leggett & Platt by 384.1% during the 3rd quarter. Invenomic Capital Management LP now owns 921,472 shares of the company’s stock worth $12,550,000 after acquiring an additional 731,132 shares during the last quarter. Finally, FMR LLC boosted its holdings in Leggett & Platt by 3,264.5% during the third quarter. FMR LLC now owns 692,884 shares of the company’s stock valued at $9,437,000 after acquiring an additional 672,290 shares during the period. 64.23% of the stock is currently owned by institutional investors.

Leggett & Platt Price Performance

NYSE:LEG opened at $9.66 on Friday. The company has a debt-to-equity ratio of 2.13, a current ratio of 1.48 and a quick ratio of 0.84. Leggett & Platt, Incorporated has a one year low of $9.18 and a one year high of $26.01. The company has a fifty day moving average price of $11.15 and a 200 day moving average price of $12.04. The stock has a market cap of $1.30 billion, a P/E ratio of -1.61 and a beta of 1.11.

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

Leggett & Platt Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Friday, December 13th will be given a $0.05 dividend. The ex-dividend date is Friday, December 13th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 2.07%. Leggett & Platt’s dividend payout ratio is currently -3.33%.

Wall Street Analysts Forecast Growth

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

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.