17,978 Shares in Leggett & Platt, Incorporated (NYSE:LEG) Purchased by Bridgefront Capital LLC

Bridgefront Capital LLC bought a new stake in Leggett & Platt, Incorporated (NYSE:LEG) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 17,978 shares of the company’s stock, valued at approximately $173,000.

Several other large investors have also recently bought and sold shares of LEG. Captrust Financial Advisors boosted its holdings in shares of Leggett & Platt by 27.5% in the fourth quarter. Captrust Financial Advisors now owns 13,521 shares of the company’s stock valued at $130,000 after acquiring an additional 2,915 shares in the last quarter. Bastion Asset Management Inc. bought a new position in Leggett & Platt during the 4th quarter valued at $2,680,000. Schonfeld Strategic Advisors LLC raised its stake in shares of Leggett & Platt by 273.2% in the 4th quarter. Schonfeld Strategic Advisors LLC now owns 167,706 shares of the company’s stock worth $1,610,000 after buying an additional 122,765 shares in the last quarter. AQR Capital Management LLC raised its stake in shares of Leggett & Platt by 12.4% in the 4th quarter. AQR Capital Management LLC now owns 1,632,152 shares of the company’s stock worth $15,669,000 after buying an additional 179,938 shares in the last quarter. Finally, Quarry LP acquired a new stake in shares of Leggett & Platt in the fourth quarter valued at $213,000. Institutional investors and hedge funds own 64.23% of the company’s stock.

Leggett & Platt Trading Up 1.7 %

NYSE:LEG opened at $9.27 on Friday. The stock has a fifty day simple moving average of $7.95 and a 200 day simple moving average of $9.88. The firm has a market capitalization of $1.25 billion, a price-to-earnings ratio of -2.48 and a beta of 0.75. Leggett & Platt, Incorporated has a 1-year low of $6.48 and a 1-year high of $14.24. The company has a quick ratio of 1.14, a current ratio of 2.00 and a debt-to-equity ratio of 2.70.

Leggett & Platt (NYSE:LEG) last announced its earnings results on Monday, April 28th. The company reported $0.24 EPS for the quarter, topping the consensus estimate of $0.23 by $0.01. Leggett & Platt had a negative net margin of 11.67% and a positive return on equity of 17.09%. The company had revenue of $1.02 billion during the quarter, compared to analysts’ expectations of $1.02 billion. During the same period last year, the company posted $0.23 earnings per share. The business’s revenue for the quarter was down 6.8% on a year-over-year basis. Sell-side analysts forecast that Leggett & Platt, Incorporated will post 1.14 earnings per share for the current year.

Leggett & Platt Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Friday, June 13th will be issued a $0.05 dividend. The ex-dividend date is Friday, June 13th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 2.16%. Leggett & Platt’s payout ratio is currently -5.35%.

Analyst Upgrades and Downgrades

LEG has been the topic of several research reports. The Goldman Sachs Group boosted their price target on shares of Leggett & Platt from $8.00 to $9.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 30th. Piper Sandler reiterated a “neutral” rating and issued a $9.00 target price (down from $12.00) on shares of Leggett & Platt in a report on Friday, April 11th. Finally, Truist Financial reduced 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.

About Leggett & Platt

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.