Wealthfront Advisers LLC Takes Position in Leggett & Platt, Incorporated (NYSE:LEG)

Wealthfront Advisers LLC purchased a new stake in Leggett & Platt, Incorporated (NYSE:LEG) during the fourth quarter, HoldingsChannel.com reports. The fund purchased 16,147 shares of the company’s stock, valued at approximately $155,000.

Other institutional investors also recently modified their holdings of the company. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Leggett & Platt in the third quarter valued at approximately $29,000. SRS Capital Advisors Inc. raised its position in shares of 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 purchasing an additional 2,629 shares during the period. Point72 Hong Kong Ltd bought a new position in shares of Leggett & Platt in the third quarter valued at approximately $37,000. Brooklyn Investment Group bought a new position in shares of Leggett & Platt in the third quarter valued at approximately $44,000. Finally, SBI Securities Co. Ltd. bought a new position in Leggett & Platt during the fourth quarter worth $50,000. Institutional investors own 64.23% of the company’s stock.

Leggett & Platt Trading Down 0.7 %

Shares of LEG stock opened at $8.06 on Tuesday. Leggett & Platt, Incorporated has a 1 year low of $7.92 and a 1 year high of $19.33. The firm’s fifty day simple moving average is $9.79 and its 200 day simple moving average is $11.23. The firm has a market capitalization of $1.09 billion, a P/E ratio of -2.16 and a beta of 1.11. The company has a current ratio of 2.00, a quick ratio of 1.14 and a debt-to-equity ratio of 2.70.

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

Leggett & Platt Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Friday, March 14th will be paid a dividend of $0.05 per share. 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 2.48%. Leggett & Platt’s dividend payout ratio is currently -5.36%.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on LEG. Truist Financial dropped 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 dropped their target price 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.

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.