1,155,286 Shares in Leggett & Platt, Incorporated (NYSE:LEG) Purchased by Wellington Management Group LLP

Wellington Management Group LLP acquired a new stake in Leggett & Platt, Incorporated (NYSE:LEG) in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 1,155,286 shares of the company’s stock, valued at approximately $15,735,000. Wellington Management Group LLP owned approximately 0.86% of Leggett & Platt at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Pacer Advisors Inc. raised its position in Leggett & Platt by 426.2% in the 2nd quarter. Pacer Advisors Inc. now owns 14,042,134 shares of the company’s stock worth $160,923,000 after purchasing an additional 11,373,507 shares during the last quarter. State Street Corp increased its stake in shares of Leggett & Platt by 0.6% in the 3rd quarter. State Street Corp now owns 4,437,066 shares of the company’s stock valued at $60,657,000 after buying an additional 27,693 shares during the period. AQR Capital Management LLC raised its position in shares of Leggett & Platt by 1,098.0% during the second quarter. AQR Capital Management LLC now owns 2,005,408 shares of the company’s stock worth $22,160,000 after acquiring an additional 1,838,009 shares during the last quarter. Invenomic Capital Management LP lifted its stake 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 valued at $12,550,000 after acquiring an additional 731,132 shares during the period. Finally, FMR LLC boosted its holdings in Leggett & Platt by 3,264.5% in 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 last quarter. 64.23% of the stock is owned by institutional investors.

Leggett & Platt Trading Down 1.8 %

NYSE:LEG opened at $11.25 on Friday. The firm has a market capitalization of $1.51 billion, a price-to-earnings ratio of -1.87 and a beta of 1.07. Leggett & Platt, Incorporated has a 1-year low of $10.11 and a 1-year high of $27.58. The business’s 50-day moving average price is $12.31 and its two-hundred day moving average price is $12.30. The company has a current ratio of 1.48, a quick ratio of 0.84 and a debt-to-equity ratio of 2.13.

Leggett & Platt (NYSE:LEG) last issued its quarterly earnings data on Monday, October 28th. The company reported $0.32 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 firm had revenue of $1.10 billion for the quarter, compared to analyst estimates of $1.10 billion. During the same quarter in the prior year, the firm posted $0.36 EPS. The firm’s revenue for the quarter was down 6.3% compared to the same quarter last year. On average, equities analysts expect that Leggett & Platt, Incorporated will post 1.05 earnings per share for the current year.

Leggett & Platt Announces Dividend

The company 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 $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.78%. The ex-dividend date is Friday, December 13th. Leggett & Platt’s dividend payout ratio is currently -3.33%.

Wall Street Analyst Weigh In

Several brokerages have weighed in on LEG. StockNews.com raised Leggett & Platt from a “sell” rating to a “hold” rating in a report on Wednesday, August 28th. Piper Sandler raised shares of Leggett & Platt from an “underweight” rating to a “neutral” rating and boosted their price target 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, Leggett & Platt presently has a consensus rating of “Hold” and an average target price of $12.67.

Leggett & Platt Company 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.