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

HighTower Advisors LLC acquired a new stake in shares of Leggett & Platt, Incorporated (NYSE:LEG) during the fourth quarter, Holdings Channel reports. The fund acquired 10,057 shares of the company’s stock, valued at approximately $97,000.

Other large investors have also recently modified their holdings of the company. Wellington Management Group LLP purchased a new stake in Leggett & Platt during the 3rd quarter valued at about $15,735,000. FMR LLC boosted its stake in shares of Leggett & Platt by 3,264.5% during the third quarter. FMR LLC now owns 692,884 shares of the company’s stock valued at $9,437,000 after purchasing an additional 672,290 shares during the period. Charles Schwab Investment Management Inc. boosted its stake in shares of Leggett & Platt by 4.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 4,751,066 shares of the company’s stock valued at $45,610,000 after purchasing an additional 214,571 shares during the period. JPMorgan Chase & Co. grew its holdings in shares of Leggett & Platt by 38.0% in the third quarter. JPMorgan Chase & Co. now owns 581,665 shares of the company’s stock worth $7,922,000 after purchasing an additional 160,104 shares during the last quarter. Finally, Oak Thistle LLC purchased a new position in shares of Leggett & Platt in the fourth quarter worth $856,000. Hedge funds and other institutional investors own 64.23% of the company’s stock.

Leggett & Platt Stock Down 3.7 %

Shares of Leggett & Platt stock opened at $7.16 on Friday. The company’s fifty day simple moving average is $9.12 and its two-hundred day simple moving average is $10.85. Leggett & Platt, Incorporated has a 12-month low of $6.68 and a 12-month high of $19.33. The company has a current ratio of 2.00, a quick ratio of 1.14 and a debt-to-equity ratio of 2.70. The company has a market cap of $964.02 million, a P/E ratio of -1.92 and a beta of 1.11.

Leggett & Platt (NYSE:LEG) last released its quarterly 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 the consensus estimate 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 anticipate that Leggett & Platt, Incorporated will post 1.14 EPS for the current year.

Leggett & Platt Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Friday, March 14th will be paid a $0.05 dividend. The ex-dividend date is Friday, March 14th. This represents a $0.20 annualized dividend and a yield of 2.80%. Leggett & Platt’s payout ratio is -5.36%.

Analyst Ratings Changes

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