Daiwa Securities Group Inc. Acquires 1,346 Shares of Leggett & Platt, Incorporated (NYSE:LEG)

Daiwa Securities Group Inc. raised its holdings in shares of Leggett & Platt, Incorporated (NYSE:LEG) by 17.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 9,263 shares of the company’s stock after acquiring an additional 1,346 shares during the quarter. Daiwa Securities Group Inc.’s holdings in Leggett & Platt were worth $242,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also bought and sold shares of the company. Vanguard Group Inc. increased its holdings in shares of Leggett & Platt by 0.9% in the third 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. Fifth Third Bancorp increased its holdings in shares of Leggett & Platt by 253.3% in the fourth quarter. Fifth Third Bancorp now owns 1,007 shares of the company’s stock worth $26,000 after purchasing an additional 722 shares during the period. Pacer Advisors Inc. increased its holdings in shares of Leggett & Platt by 68.5% in the fourth quarter. Pacer Advisors Inc. now owns 1,934,905 shares of the company’s stock worth $50,636,000 after purchasing an additional 786,297 shares during the period. Invesco Ltd. increased its holdings in shares of Leggett & Platt by 45.7% in the third quarter. Invesco Ltd. now owns 1,699,580 shares of the company’s stock worth $43,186,000 after purchasing an additional 532,780 shares during the period. Finally, American Century Companies Inc. increased its holdings in shares of Leggett & Platt by 332.4% in the third quarter. American Century Companies Inc. now owns 233,806 shares of the company’s stock worth $5,941,000 after purchasing an additional 179,734 shares during the period. Institutional investors own 64.23% of the company’s stock.

Leggett & Platt Stock Up 0.1 %

Shares of NYSE:LEG opened at $17.99 on Friday. Leggett & Platt, Incorporated has a 52-week low of $17.19 and a 52-week high of $33.50. The firm has a fifty day moving average of $19.16 and a 200 day moving average of $22.46. The firm has a market capitalization of $2.41 billion, a PE ratio of -17.98 and a beta of 1.17. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.84 and a current ratio of 1.49.

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 company had revenue of $1.12 billion during the quarter, compared to analysts’ expectations of $1.11 billion. During the same quarter last year, the firm posted $0.39 earnings per share. The firm’s revenue was down 6.7% on a year-over-year basis. As a group, research analysts anticipate that Leggett & Platt, Incorporated will post 1.17 EPS for the current fiscal year.

Leggett & Platt Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Friday, March 15th were given a dividend of $0.46 per share. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $1.84 annualized dividend and a yield of 10.23%. Leggett & Platt’s payout ratio is -184.00%.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the stock. Truist Financial decreased their price target on shares of Leggett & Platt from $18.00 to $16.00 and set a “hold” rating on the stock in a report on Tuesday, March 26th. TheStreet lowered shares of Leggett & Platt from a “c” rating to a “d+” rating in a research report on Monday, March 11th. Finally, StockNews.com lowered shares of Leggett & Platt from a “hold” rating to a “sell” rating in a research report on Monday, March 11th. Two equities research analysts have rated the stock with a sell rating and two have issued a hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $19.33.

Leggett & Platt Company 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.