Daiwa Securities Group Inc. Has $399,000 Stake in Leggett & Platt, Incorporated (NYSE:LEG)

Daiwa Securities Group Inc. lifted its holdings in shares of Leggett & Platt, Incorporated (NYSE:LEG) by 100.1% during the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 34,853 shares of the company’s stock after purchasing an additional 17,437 shares during the period. Daiwa Securities Group Inc.’s holdings in Leggett & Platt were worth $399,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Dimensional Fund Advisors LP increased its stake in shares of Leggett & Platt by 12.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,373,959 shares of the company’s stock valued at $62,127,000 after buying an additional 262,145 shares in the last quarter. Beacon Pointe Advisors LLC raised its holdings in Leggett & Platt by 72.7% during the 4th quarter. Beacon Pointe Advisors LLC now owns 33,078 shares of the company’s stock worth $866,000 after purchasing an additional 13,923 shares during the last quarter. Private Advisor Group LLC raised its stake in shares of Leggett & Platt by 8.6% during the fourth quarter. Private Advisor Group LLC now owns 19,610 shares of the company’s stock worth $513,000 after buying an additional 1,551 shares during the last quarter. Vanguard Group Inc. boosted its stake in Leggett & Platt by 0.4% in the fourth quarter. Vanguard Group Inc. now owns 12,996,067 shares of the company’s stock valued at $340,107,000 after acquiring an additional 49,086 shares during the last quarter. Finally, Norges Bank bought a new stake in shares of Leggett & Platt during the 4th quarter valued at $26,814,000. 64.23% of the stock is currently owned by institutional investors and hedge funds.

Leggett & Platt Stock Up 0.3 %

Leggett & Platt stock opened at $12.84 on Tuesday. The firm has a market capitalization of $1.72 billion, a PE ratio of -11.06 and a beta of 1.07. The company’s 50-day moving average is $12.40 and its 200-day moving average is $14.20. Leggett & Platt, Incorporated has a fifty-two week low of $10.11 and a fifty-two week high of $27.58. The company has a debt-to-equity ratio of 2.55, a current ratio of 1.53 and a quick ratio of 0.88.

Leggett & Platt (NYSE:LEG) last announced its quarterly earnings results on Thursday, August 1st. The company reported $0.29 EPS for the quarter, meeting analysts’ consensus estimates of $0.29. Leggett & Platt had a negative net margin of 18.05% and a positive return on equity of 12.65%. The business had revenue of $1.13 billion for the quarter, compared to analyst estimates of $1.13 billion. Sell-side analysts anticipate that Leggett & Platt, Incorporated will post 1.14 earnings per share for the current year.

Leggett & Platt Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Friday, September 13th will be paid a $0.05 dividend. The ex-dividend date is Friday, September 13th. This represents a $0.20 dividend on an annualized basis and a yield of 1.56%. Leggett & Platt’s dividend payout ratio (DPR) is currently -17.24%.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the company. StockNews.com upgraded Leggett & Platt from a “sell” rating to a “hold” rating in a report on Wednesday, August 28th. The Goldman Sachs Group lowered their price objective on shares of Leggett & Platt from $14.00 to $12.00 and set a “neutral” rating for the company in a research report on Wednesday, July 10th. Finally, Truist Financial boosted their target price on Leggett & Platt from $11.00 to $13.00 and gave the company a “hold” rating in a research note on Monday, August 5th. One research analyst has rated the stock with a sell rating and three have issued a hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus 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.