PharVision Advisers LLC Invests $467,000 in Leggett & Platt, Incorporated (NYSE:LEG)

PharVision Advisers LLC bought a new stake in shares of Leggett & Platt, Incorporated (NYSE:LEG) during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 48,672 shares of the company’s stock, valued at approximately $467,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in Leggett & Platt by 13.3% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 440,909 shares of the company’s stock valued at $4,233,000 after purchasing an additional 51,841 shares during the period. Squarepoint Ops LLC raised its holdings in shares of Leggett & Platt by 49.6% during the 4th quarter. Squarepoint Ops LLC now owns 345,589 shares of the company’s stock valued at $3,318,000 after buying an additional 114,536 shares during the period. Two Sigma Advisers LP raised its holdings in shares of Leggett & Platt by 82.1% during the 4th quarter. Two Sigma Advisers LP now owns 630,100 shares of the company’s stock valued at $6,049,000 after buying an additional 284,100 shares during the period. Two Sigma Investments LP lifted its position in Leggett & Platt by 45.1% during the 4th quarter. Two Sigma Investments LP now owns 874,668 shares of the company’s stock worth $8,397,000 after acquiring an additional 271,917 shares in the last quarter. Finally, Seven Six Capital Management LLC purchased a new position in Leggett & Platt in the 4th quarter worth approximately $5,627,000. Institutional investors and hedge funds own 64.23% of the company’s stock.

Wall Street Analyst Weigh In

LEG has been the topic of a number of analyst reports. Piper Sandler reiterated a “neutral” rating and set a $9.00 price objective (down previously from $12.00) on shares of Leggett & Platt in a research note on Friday, April 11th. The Goldman Sachs Group raised their price target on shares of Leggett & Platt from $8.00 to $9.00 and gave the company a “neutral” rating in a report on Wednesday, April 30th. Finally, Truist Financial cut their price objective on shares of Leggett & Platt from $13.00 to $11.00 and set a “hold” rating on the stock in a report on Wednesday, January 29th.

Leggett & Platt Price Performance

LEG stock opened at $9.16 on Wednesday. The stock’s 50 day moving average is $8.12 and its two-hundred day moving average is $9.71. Leggett & Platt, Incorporated has a 52-week low of $6.48 and a 52-week high of $14.24. The company has a market capitalization of $1.24 billion, a PE ratio of -2.46 and a beta of 0.75. 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 released its quarterly earnings results on Monday, April 28th. The company reported $0.24 earnings per share for the quarter, topping analysts’ consensus estimates of $0.23 by $0.01. The business had revenue of $1.02 billion during the quarter, compared to the consensus estimate of $1.02 billion. Leggett & Platt had a negative net margin of 11.67% and a positive return on equity of 17.09%. The business’s quarterly revenue was down 6.8% compared to the same quarter last year. During the same quarter last year, the company earned $0.23 earnings per share. Analysts predict that Leggett & Platt, Incorporated will post 1.14 earnings per share for the current fiscal year.

Leggett & Platt Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Friday, June 13th will be paid a $0.05 dividend. The ex-dividend date of this dividend is Friday, June 13th. This represents a $0.20 dividend on an annualized basis and a yield of 2.18%. Leggett & Platt’s dividend payout ratio (DPR) is -5.35%.

Leggett & Platt Company Profile

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.