586,167 Shares in Leggett & Platt, Incorporated (NYSE:LEG) Acquired by Seven Six Capital Management LLC

Seven Six Capital Management LLC purchased a new position in shares of Leggett & Platt, Incorporated (NYSE:LEG) in the 4th quarter, HoldingsChannel.com reports. The institutional investor purchased 586,167 shares of the company’s stock, valued at approximately $5,627,000. Leggett & Platt accounts for 4.9% of Seven Six Capital Management LLC’s holdings, making the stock its 6th biggest position.

Other institutional investors have also made changes to their positions in the company. Counterpoint Mutual Funds LLC acquired a new stake in shares of Leggett & Platt during the fourth quarter worth approximately $666,000. Vanguard Group Inc. boosted its holdings in shares of Leggett & Platt by 4.9% during the fourth quarter. Vanguard Group Inc. now owns 15,478,476 shares of the company’s stock worth $148,593,000 after purchasing an additional 722,024 shares during the period. American Century Companies Inc. boosted its holdings in shares of Leggett & Platt by 50.3% during the fourth quarter. American Century Companies Inc. now owns 138,972 shares of the company’s stock worth $1,334,000 after purchasing an additional 46,499 shares during the period. Trexquant Investment LP boosted its holdings in shares of Leggett & Platt by 89.0% during the fourth quarter. Trexquant Investment LP now owns 1,177,891 shares of the company’s stock worth $11,308,000 after purchasing an additional 554,814 shares during the period. Finally, Amundi raised its position in Leggett & Platt by 90.3% during the fourth quarter. Amundi now owns 82,890 shares of the company’s stock valued at $814,000 after acquiring an additional 39,324 shares in the last quarter. 64.23% of the stock is currently owned by institutional investors and hedge funds.

Leggett & Platt Trading Down 0.1%

Shares of LEG stock opened at $9.54 on Friday. Leggett & Platt, Incorporated has a 1 year low of $6.48 and a 1 year high of $14.24. The firm’s fifty day simple moving average is $8.08 and its 200 day simple moving average is $9.76. The firm has a market capitalization of $1.29 billion, a P/E ratio of -2.56 and a beta of 0.75. The company has a current ratio of 2.00, a quick ratio of 1.14 and a debt-to-equity ratio of 2.70.

Leggett & Platt (NYSE:LEG) last posted 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. Leggett & Platt had a negative net margin of 11.67% and a positive return on equity of 17.09%. The firm had revenue of $1.02 billion for the quarter, compared to the consensus estimate of $1.02 billion. During the same quarter in the previous year, the company earned $0.23 earnings per share. The business’s revenue was down 6.8% compared to the same quarter last year. As a group, sell-side analysts predict that Leggett & Platt, Incorporated will post 1.14 EPS for the current year.

Leggett & Platt Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Friday, June 13th will be paid a dividend of $0.05 per share. 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 2.10%. Leggett & Platt’s dividend payout ratio is currently -5.35%.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the stock. 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 research report on Wednesday, January 29th. The Goldman Sachs Group raised their price objective on shares of Leggett & Platt from $8.00 to $9.00 and gave the company a “neutral” rating in a research report on Wednesday, April 30th. Finally, Piper Sandler reaffirmed a “neutral” rating and set a $9.00 price objective (down previously from $12.00) on shares of Leggett & Platt in a research report on Friday, April 11th.

Leggett & Platt 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.