Daiwa Securities Group Inc. Increases Stake in Leggett & Platt, Incorporated (NYSE:LEG)

Daiwa Securities Group Inc. increased its holdings in shares of Leggett & Platt, Incorporated (NYSE:LEG) by 38.9% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 46,322 shares of the company’s stock after buying an additional 12,979 shares during the period. Daiwa Securities Group Inc.’s holdings in Leggett & Platt were worth $445,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. Charles Schwab Investment Management Inc. increased its position in shares of Leggett & Platt by 4.7% in the 4th 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 last quarter. State Street Corp increased its position in shares of Leggett & Platt by 0.6% in the 3rd quarter. State Street Corp now owns 4,437,066 shares of the company’s stock valued at $60,657,000 after purchasing an additional 27,693 shares during the last quarter. Geode Capital Management LLC increased its position in shares of Leggett & Platt by 2.9% in the 3rd quarter. Geode Capital Management LLC now owns 2,156,322 shares of the company’s stock valued at $29,377,000 after purchasing an additional 60,166 shares during the last quarter. Wellington Management Group LLP purchased a new stake in shares of Leggett & Platt in the 3rd quarter valued at approximately $15,735,000. Finally, Invenomic Capital Management LP boosted its holdings in shares of Leggett & Platt by 384.1% in 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. 64.23% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on LEG. Truist Financial lowered their target price on shares of Leggett & Platt from $13.00 to $11.00 and set a “hold” rating for the company in a report on Wednesday, January 29th. The Goldman Sachs Group lowered their target price on shares of Leggett & Platt from $14.00 to $12.00 and set a “neutral” rating for the company in a report on Tuesday, January 14th.

Leggett & Platt Stock Up 1.6 %

Shares of NYSE:LEG opened at $8.12 on Monday. The stock has a market cap of $1.09 billion, a P/E ratio of -2.18 and a beta of 1.11. The firm has a fifty day moving average price of $9.82 and a 200 day moving average price of $11.27. 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 $7.92 and a 1-year high of $19.33.

Leggett & Platt (NYSE:LEG) last issued 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. The firm 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%. Sell-side analysts predict that Leggett & Platt, Incorporated will post 1.14 EPS for the current year.

Leggett & Platt Dividend Announcement

The firm 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 dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a yield of 2.46%. The ex-dividend date is Friday, March 14th. Leggett & Platt’s dividend payout ratio is currently -5.36%.

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.