United Services Automobile Association Has $496,000 Stake in Leggett & Platt, Incorporated (NYSE:LEG)

United Services Automobile Association increased its position in Leggett & Platt, Incorporated (NYSE:LEG – Get Rating) by 4.4% during the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 14,901 shares of the company’s stock after buying an additional 632 shares during the period. United Services Automobile Association’s holdings in Leggett & Platt were worth $496,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Neo Ivy Capital Management acquired a new position in Leggett & Platt in the third quarter worth approximately $26,000. Regal Investment Advisors LLC lifted its position in Leggett & Platt by 31.7% during the 3rd quarter. Regal Investment Advisors LLC now owns 68,581 shares of the company’s stock worth $2,278,000 after acquiring an additional 16,501 shares during the last quarter. Public Employees Retirement System of Ohio lifted its position in Leggett & Platt by 0.8% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 66,774 shares of the company’s stock worth $2,218,000 after acquiring an additional 526 shares during the last quarter. Two Sigma Advisers LP acquired a new position in Leggett & Platt during the 3rd quarter worth $644,000. Finally, Teza Capital Management LLC lifted its position in Leggett & Platt by 19.6% during the 3rd quarter. Teza Capital Management LLC now owns 7,208 shares of the company’s stock worth $239,000 after acquiring an additional 1,182 shares during the last quarter. Institutional investors and hedge funds own 69.42% of the company’s stock.

Leggett & Platt Stock Performance

NYSE LEG opened at $31.08 on Wednesday. The stock has a market cap of $4.13 billion, a P/E ratio of 13.69 and a beta of 1.30. The company’s 50-day simple moving average is $34.48 and its 200 day simple moving average is $34.45. Leggett & Platt, Incorporated has a twelve month low of $30.28 and a twelve month high of $41.94. The company has a quick ratio of 1.09, a current ratio of 2.02 and a debt-to-equity ratio of 1.26.

Leggett & Platt (NYSE:LEG – Get Rating) last posted its earnings results on Monday, February 6th. The company reported $0.39 earnings per share for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.09). The business had revenue of $1.20 billion during the quarter, compared to the consensus estimate of $1.24 billion. Leggett & Platt had a net margin of 6.02% and a return on equity of 19.09%. The business’s revenue was down 10.0% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.77 EPS. As a group, research analysts forecast that Leggett & Platt, Incorporated will post 1.58 earnings per share for the current fiscal year.

Leggett & Platt Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 14th. Shareholders of record on Wednesday, March 15th will be paid a dividend of $0.44 per share. The ex-dividend date of this dividend is Tuesday, March 14th. This represents a $1.76 annualized dividend and a yield of 5.66%. Leggett & Platt’s dividend payout ratio is 77.53%.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on LEG shares. StockNews.com lowered shares of Leggett & Platt from a “hold” rating to a “sell” rating in a research report on Wednesday, February 8th. Piper Sandler cut their price objective on shares of Leggett & Platt from $24.00 to $21.00 and set an “underweight” rating for the company in a research report on Wednesday, February 8th. Two analysts have rated the stock with a sell rating, one has assigned a hold rating and one has issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $32.00.

Leggett & Platt Profile

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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, Flooring, Furniture & Textile, and Specialized Products. The Bedding Products segment supplies products and components for the home, including mattress springs and specialty foam, as well as adjustable beds, bedding machinery, steel rod, and drawn wire.