Lecap Asset Management Ltd. Invests $505,000 in Leggett & Platt, Incorporated (NYSE:LEG)

Lecap Asset Management Ltd. acquired a new position in shares of Leggett & Platt, Incorporated (NYSE:LEG) during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 19,299 shares of the company’s stock, valued at approximately $505,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. State Street Corp grew its stake in shares of Leggett & Platt by 4.0% during the 2nd quarter. State Street Corp now owns 17,633,812 shares of the company’s stock worth $530,332,000 after purchasing an additional 685,740 shares during the period. BlackRock Inc. grew its stake in shares of Leggett & Platt by 1.5% during the 1st quarter. BlackRock Inc. now owns 15,952,440 shares of the company’s stock worth $508,564,000 after purchasing an additional 239,935 shares during the period. Vanguard Group Inc. grew its stake in shares of Leggett & Platt by 0.9% during the 3rd quarter. Vanguard Group Inc. now owns 12,946,981 shares of the company’s stock worth $328,983,000 after purchasing an additional 117,499 shares during the period. Charles Schwab Investment Management Inc. grew its stake in Leggett & Platt by 7.0% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 6,231,637 shares of the company’s stock valued at $154,888,000 after acquiring an additional 405,363 shares during the period. Finally, Dimensional Fund Advisors LP grew its stake in Leggett & Platt by 0.8% in the 1st quarter. Dimensional Fund Advisors LP now owns 2,252,773 shares of the company’s stock valued at $71,811,000 after acquiring an additional 18,807 shares during the period. Institutional investors and hedge funds own 64.23% of the company’s stock.

Leggett & Platt Stock Performance

Shares of LEG opened at $17.66 on Monday. Leggett & Platt, Incorporated has a 52-week low of $17.59 and a 52-week high of $33.50. The company has a quick ratio of 0.84, a current ratio of 1.49 and a debt-to-equity ratio of 1.26. The firm’s fifty day moving average is $19.81 and its two-hundred day moving average is $22.87.

Leggett & Platt (NYSE:LEG) last announced its earnings results on Friday, February 9th. The company reported $0.26 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.27 by ($0.01). Leggett & Platt had a positive return on equity of 11.99% and a negative net margin of 2.90%. The business had revenue of $1.12 billion for the quarter, compared to analyst estimates of $1.11 billion. During the same period last year, the firm earned $0.39 EPS. The company’s revenue for the quarter was down 6.7% compared to the same quarter last year. Equities analysts predict that Leggett & Platt, Incorporated will post 1.17 earnings per share for the current fiscal year.

Leggett & Platt Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, April 15th. Stockholders of record on Friday, March 15th will be issued a dividend of $0.46 per share. The ex-dividend date of this dividend is Thursday, March 14th. This represents a $1.84 annualized dividend and a dividend yield of 10.42%. Leggett & Platt’s dividend payout ratio is presently -184.00%.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on LEG shares. StockNews.com cut shares of Leggett & Platt from a “hold” rating to a “sell” rating in a research note on Monday, March 11th. TheStreet cut shares of Leggett & Platt from a “c” rating to a “d+” rating in a research note on Monday, March 11th. Finally, Truist Financial dropped their price target on shares of Leggett & Platt from $18.00 to $16.00 and set a “hold” rating on the stock in a research note on Tuesday, March 26th. Two analysts have rated the stock with a sell rating and two have issued a hold rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $19.33.

Leggett & Platt Profile

Leggett & Platt, Incorporated designs, manufactures, and sells engineered components and products in the United States, Europe, China, Canada, Mexico, and internationally. It operates through three segments: Bedding Products; Specialized Products; and Furniture, Flooring & Textile Products. The company offers steel rods, drawn wires, specialty foam chemicals and additives, innersprings, specialty foam for use in bedding and furniture, private label finished mattresses, ready-to-assemble mattress foundations, static foundations, and adjustable beds, as well as machines for producing innersprings; industrial sewing and quilting machines; mattress-packaging; and glue-drying equipment for various industrial users of steel rod and wire, manufacturers of finished bedding, bedding brands and mattress retailers, E-commerce retailers, big box retailers, department stores, and home improvement centers.