Sanctuary Advisors LLC Makes New Investment in Leggett & Platt, Incorporated (NYSE:LEG)

Sanctuary Advisors LLC purchased a new position in Leggett & Platt, Incorporated (NYSE:LEG) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 11,272 shares of the company’s stock, valued at approximately $108,000.

Several other hedge funds have also bought and sold shares of the stock. State Street Corp raised its position in shares of Leggett & Platt by 0.6% during 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 in the last quarter. Geode Capital Management LLC raised its position in shares of Leggett & Platt by 2.9% during the 3rd quarter. Geode Capital Management LLC now owns 2,156,322 shares of the company’s stock valued at $29,377,000 after buying an additional 60,166 shares in the last quarter. Wellington Management Group LLP purchased a new stake in shares of Leggett & Platt during the 3rd quarter valued at about $15,735,000. Invenomic Capital Management LP raised its position in shares of Leggett & Platt by 384.1% during the 3rd quarter. Invenomic Capital Management LP now owns 921,472 shares of the company’s stock valued at $12,550,000 after buying an additional 731,132 shares in the last quarter. Finally, FMR LLC raised its position in shares of Leggett & Platt by 3,264.5% during the 3rd quarter. FMR LLC now owns 692,884 shares of the company’s stock valued at $9,437,000 after buying an additional 672,290 shares in the last quarter. Hedge funds and other institutional investors own 64.23% of the company’s stock.

Leggett & Platt Stock Performance

Leggett & Platt stock opened at $8.60 on Friday. The company has a debt-to-equity ratio of 2.70, a current ratio of 2.00 and a quick ratio of 1.14. Leggett & Platt, Incorporated has a 1-year low of $8.43 and a 1-year high of $20.91. The firm has a market capitalization of $1.16 billion, a P/E ratio of -2.30 and a beta of 1.12. The company’s 50-day moving average is $9.99 and its 200 day moving average is $11.49.

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

Leggett & Platt Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Friday, March 14th will be paid a $0.05 dividend. The ex-dividend date of this dividend is Friday, March 14th. This represents a $0.20 dividend on an annualized basis and a yield of 2.33%. Leggett & Platt’s dividend payout ratio is currently -5.36%.

Analysts Set New Price Targets

Several brokerages have recently issued reports on LEG. Truist Financial decreased 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. The Goldman Sachs Group reduced their price objective on shares of Leggett & Platt from $14.00 to $12.00 and set a “neutral” rating on the stock in a research report on Tuesday, January 14th. Four investment analysts have rated the stock with a hold rating, According to data from MarketBeat.com, Leggett & Platt presently has a consensus rating of “Hold” and an average price target of $12.00.

Leggett & Platt Company 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.