State of New Jersey Common Pension Fund D Raises Stock Holdings in Leggett & Platt, Incorporated (NYSE:LEG)

State of New Jersey Common Pension Fund D boosted its holdings in Leggett & Platt, Incorporated (NYSE:LEG) by 23.0% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 109,280 shares of the company’s stock after purchasing an additional 20,401 shares during the period. State of New Jersey Common Pension Fund D’s holdings in Leggett & Platt were worth $2,860,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Ramirez Asset Management Inc. purchased a new position in Leggett & Platt in the third quarter valued at about $25,000. Fifth Third Bancorp boosted its holdings in Leggett & Platt by 253.3% in the fourth quarter. Fifth Third Bancorp now owns 1,007 shares of the company’s stock valued at $26,000 after purchasing an additional 722 shares during the last quarter. GAMMA Investing LLC purchased a new position in Leggett & Platt in the fourth quarter valued at about $40,000. Hexagon Capital Partners LLC boosted its holdings in Leggett & Platt by 67.5% in the third quarter. Hexagon Capital Partners LLC now owns 1,930 shares of the company’s stock valued at $49,000 after purchasing an additional 778 shares during the last quarter. Finally, ORG Partners LLC acquired a new stake in Leggett & Platt during the fourth quarter valued at approximately $49,000. Hedge funds and other institutional investors own 64.23% of the company’s stock.

Leggett & Platt Stock Up 0.2 %

Shares of Leggett & Platt stock opened at $17.99 on Monday. The company has a current ratio of 1.49, a quick ratio of 0.84 and a debt-to-equity ratio of 1.26. The business’s 50 day simple moving average is $19.12 and its 200-day simple moving average is $22.39. Leggett & Platt, Incorporated has a twelve month low of $17.19 and a twelve month high of $33.50.

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

Leggett & Platt Dividend Announcement

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

Analyst Upgrades and Downgrades

LEG has been the topic of several research reports. Truist Financial cut their price objective on Leggett & Platt from $18.00 to $16.00 and set a “hold” rating on the stock in a research note on Tuesday, March 26th. TheStreet cut Leggett & Platt from a “c” rating to a “d+” rating in a research note on Monday, March 11th. Finally, StockNews.com cut Leggett & Platt from a “hold” rating to a “sell” rating in a research note on Monday, March 11th. Two analysts have rated the stock with a sell rating and two have assigned a hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $19.33.

About Leggett & Platt

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.