Charles Schwab Investment Management Inc. Increases Stake in Leggett & Platt, Incorporated (NYSE:LEG)

Charles Schwab Investment Management Inc. grew its position in Leggett & Platt, Incorporated (NYSE:LEG) by 4.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 4,751,066 shares of the company’s stock after acquiring an additional 214,571 shares during the period. Charles Schwab Investment Management Inc. owned about 3.54% of Leggett & Platt worth $45,610,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. CIBC Asset Management Inc boosted its holdings in Leggett & Platt by 7.7% in the 4th quarter. CIBC Asset Management Inc now owns 13,986 shares of the company’s stock valued at $134,000 after purchasing an additional 1,001 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Leggett & Platt in the third quarter valued at approximately $29,000. SRS Capital Advisors Inc. grew its holdings in Leggett & Platt by 555.8% during the fourth quarter. SRS Capital Advisors Inc. now owns 3,102 shares of the company’s stock worth $30,000 after acquiring an additional 2,629 shares during the period. Point72 Hong Kong Ltd purchased a new position in Leggett & Platt in the third quarter worth $37,000. Finally, KBC Group NV raised its position in Leggett & Platt by 74.5% in the fourth quarter. KBC Group NV now owns 7,028 shares of the company’s stock worth $67,000 after acquiring an additional 3,000 shares in the last quarter. 64.23% of the stock is currently owned by institutional investors and hedge funds.

Leggett & Platt Trading Up 1.6 %

Shares of LEG stock opened at $8.12 on Friday. The stock has a market cap of $1.09 billion, a P/E ratio of -2.18 and a beta of 1.11. The company has a quick ratio of 1.14, a current ratio of 2.00 and a debt-to-equity ratio of 2.70. Leggett & Platt, Incorporated has a fifty-two week low of $7.92 and a fifty-two week high of $19.33. The business has a fifty day simple moving average of $9.84 and a 200-day simple moving average of $11.32.

Leggett & Platt (NYSE:LEG) last announced its earnings results on Thursday, February 13th. The company reported $0.21 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.21. The company had revenue of $1.06 billion during the quarter, compared to analysts’ expectations of $1.03 billion. Leggett & Platt had a negative net margin of 11.67% and a positive return on equity of 17.09%. On average, analysts forecast that Leggett & Platt, Incorporated will post 1.14 earnings per share for the current fiscal year.

Leggett & Platt Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Friday, March 14th will be given a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a yield of 2.46%. The ex-dividend date is Friday, March 14th. Leggett & Platt’s payout ratio is -5.36%.

Analysts Set New Price Targets

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

Leggett & Platt Profile

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.