Quadrature Capital Ltd Purchases 12,064 Shares of Leggett & Platt, Incorporated (NYSE:LEG)

Quadrature Capital Ltd boosted its stake in shares of Leggett & Platt, Incorporated (NYSE:LEG) by 32.0% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 49,792 shares of the company’s stock after acquiring an additional 12,064 shares during the period. Quadrature Capital Ltd’s holdings in Leggett & Platt were worth $1,303,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its stake in Leggett & Platt by 0.4% during the 4th quarter. Vanguard Group Inc. now owns 12,996,067 shares of the company’s stock worth $340,107,000 after acquiring an additional 49,086 shares during the period. Dimensional Fund Advisors LP increased its stake in Leggett & Platt by 12.4% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,373,959 shares of the company’s stock worth $62,127,000 after acquiring an additional 262,145 shares during the period. Pacer Advisors Inc. increased its stake in shares of Leggett & Platt by 68.5% in the 4th quarter. Pacer Advisors Inc. now owns 1,934,905 shares of the company’s stock valued at $50,636,000 after purchasing an additional 786,297 shares during the last quarter. Invesco Ltd. increased its stake in shares of Leggett & Platt by 45.7% in the 3rd quarter. Invesco Ltd. now owns 1,699,580 shares of the company’s stock valued at $43,186,000 after purchasing an additional 532,780 shares during the last quarter. Finally, Norges Bank bought a new position in shares of Leggett & Platt in the 4th quarter valued at $26,814,000. Institutional investors own 64.23% of the company’s stock.

Insider Transactions at Leggett & Platt

In other Leggett & Platt news, EVP Ryan Michael Kleiboeker acquired 10,000 shares of the stock in a transaction dated Thursday, May 2nd. The stock was purchased at an average cost of $13.39 per share, with a total value of $133,900.00. Following the transaction, the executive vice president now owns 41,535 shares in the company, valued at approximately $556,153.65. The acquisition was disclosed in a filing with the SEC, which is available at this link. In other Leggett & Platt news, EVP Ryan Michael Kleiboeker acquired 10,000 shares of the stock in a transaction dated Thursday, May 2nd. The stock was purchased at an average cost of $13.39 per share, with a total value of $133,900.00. Following the transaction, the executive vice president now owns 41,535 shares in the company, valued at approximately $556,153.65. The acquisition was disclosed in a filing with the SEC, which is available at this link. Also, CFO Benjamin Michael Burns bought 3,850 shares of the firm’s stock in a transaction that occurred on Thursday, June 6th. The stock was purchased at an average cost of $12.20 per share, with a total value of $46,970.00. Following the completion of the transaction, the chief financial officer now directly owns 81,362 shares in the company, valued at $992,616.40. The disclosure for this purchase can be found here. In the last ninety days, insiders acquired 65,635 shares of company stock valued at $773,447. Corporate insiders own 1.92% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently issued reports on LEG. TheStreet lowered Leggett & Platt from a “c” rating to a “d+” rating in a research note on Monday, March 11th. Piper Sandler decreased their price target on Leggett & Platt from $16.00 to $13.00 and set an “underweight” rating on the stock in a research note on Wednesday, May 1st. The Goldman Sachs Group decreased their price target on Leggett & Platt from $20.00 to $14.00 and set a “neutral” rating on the stock in a research note on Thursday, May 2nd. StockNews.com lowered Leggett & Platt from a “hold” rating to a “sell” rating in a research note on Wednesday. Finally, Truist Financial decreased their price target on Leggett & Platt from $16.00 to $13.00 and set a “hold” rating on the stock in a research note on Friday, May 3rd. Two equities research analysts have rated the stock with a sell rating and two have given a hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $13.33.

Leggett & Platt Stock Down 0.8 %

Shares of LEG opened at $11.55 on Thursday. The company has a market capitalization of $1.55 billion, a PE ratio of -9.96 and a beta of 1.10. Leggett & Platt, Incorporated has a 12 month low of $10.11 and a 12 month high of $31.20. The stock’s 50-day moving average price is $13.64 and its two-hundred day moving average price is $19.38. The company has a current ratio of 1.57, a quick ratio of 0.89 and a debt-to-equity ratio of 1.37.

Leggett & Platt (NYSE:LEG) last announced its earnings results on Tuesday, April 30th. The company reported $0.23 EPS for the quarter, missing the consensus estimate of $0.24 by ($0.01). The company had revenue of $1.10 billion for the quarter, compared to analyst estimates of $1.11 billion. Leggett & Platt had a positive return on equity of 11.31% and a negative net margin of 3.44%. The firm’s quarterly revenue was down 9.6% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.39 earnings per share. On average, analysts anticipate that Leggett & Platt, Incorporated will post 1.13 EPS for the current year.

Leggett & Platt Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Friday, June 14th will be given a $0.05 dividend. This represents a $0.20 annualized dividend and a dividend yield of 1.73%. The ex-dividend date is Friday, June 14th. Leggett & Platt’s dividend payout ratio (DPR) is presently -17.24%.

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.