Quantbot Technologies LP Purchases New Stake in Leggett & Platt, Incorporated (NYSE:LEG)

Quantbot Technologies LP bought a new stake in Leggett & Platt, Incorporated (NYSE:LEG) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 151,544 shares of the company’s stock, valued at approximately $1,455,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Leggett & Platt in the third quarter worth about $29,000. SRS Capital Advisors Inc. grew its position in Leggett & Platt by 555.8% in the fourth quarter. SRS Capital Advisors Inc. now owns 3,102 shares of the company’s stock valued at $30,000 after acquiring an additional 2,629 shares in the last quarter. Point72 Hong Kong Ltd purchased a new stake in shares of Leggett & Platt during the third quarter valued at approximately $37,000. Brooklyn Investment Group purchased a new position in shares of Leggett & Platt in the third quarter valued at $44,000. Finally, SBI Securities Co. Ltd. acquired a new stake in Leggett & Platt during the 4th quarter valued at $50,000. 64.23% of the stock is owned by hedge funds and other institutional investors.

Leggett & Platt Stock Up 4.2 %

NYSE:LEG opened at $8.57 on Tuesday. The stock has a 50-day simple moving average of $9.63 and a 200 day simple moving average of $11.09. Leggett & Platt, Incorporated has a one year low of $7.92 and a one year high of $19.33. The company has a market capitalization of $1.15 billion, a price-to-earnings ratio of -2.30 and a beta of 1.11. 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 (NYSE:LEG) last issued its quarterly earnings results on Thursday, February 13th. The company reported $0.21 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.21. Leggett & Platt had a positive return on equity of 17.09% and a negative net margin of 11.67%. The business had revenue of $1.06 billion during the quarter, compared to the consensus estimate of $1.03 billion. Sell-side analysts predict that Leggett & Platt, Incorporated will post 1.14 EPS for the current fiscal year.

Leggett & Platt Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Friday, March 14th will be given a $0.05 dividend. The ex-dividend date is Friday, March 14th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 2.34%. Leggett & Platt’s payout ratio is currently -5.36%.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on LEG shares. Truist Financial lowered their target price on Leggett & Platt from $13.00 to $11.00 and set a “hold” rating for the company in a research note on Wednesday, January 29th. The Goldman Sachs Group dropped their price objective on Leggett & Platt from $14.00 to $12.00 and set a “neutral” rating on the stock in a report on Tuesday, January 14th.

About Leggett & Platt

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.