AQR Capital Management LLC raised its holdings in Leggett & Platt, Inc. (NYSE:LEG) by 18.2% in the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 98,355 shares of the company’s stock after acquiring an additional 15,135 shares during the quarter. AQR Capital Management LLC owned approximately 0.07% of Leggett & Platt worth $2,624,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also made changes to their positions in LEG. FMR LLC increased its position in Leggett & Platt by 24.5% in the 1st quarter. FMR LLC now owns 54,615 shares of the company’s stock valued at $2,306,000 after acquiring an additional 10,765 shares during the period. Victory Capital Management Inc. increased its position in Leggett & Platt by 25.5% in the 4th quarter. Victory Capital Management Inc. now owns 93,398 shares of the company’s stock valued at $4,747,000 after acquiring an additional 18,948 shares during the period. Private Advisor Group LLC acquired a new position in Leggett & Platt in the 4th quarter valued at approximately $236,000. Banque Cantonale Vaudoise acquired a new position in Leggett & Platt in the 4th quarter valued at approximately $181,000. Finally, Rafferty Asset Management LLC increased its position in Leggett & Platt by 11.5% in the 4th quarter. Rafferty Asset Management LLC now owns 12,450 shares of the company’s stock valued at $633,000 after acquiring an additional 1,288 shares during the period. Hedge funds and other institutional investors own 69.25% of the company’s stock.
Several equities analysts have issued reports on LEG shares. Raymond James upped their price target on shares of Leggett & Platt from $32.00 to $38.00 and gave the company a “strong-buy” rating in a research report on Thursday, May 28th. Piper Sandler decreased their price objective on shares of Leggett & Platt from $47.00 to $35.00 and set a “neutral” rating for the company in a research report on Wednesday, April 15th. SunTrust Banks increased their price objective on shares of Leggett & Platt from $27.00 to $30.00 and gave the stock a “hold” rating in a research report on Monday, May 18th. Zacks Investment Research cut shares of Leggett & Platt from a “hold” rating to a “sell” rating and set a $28.00 price objective for the company. in a research report on Wednesday, April 1st. Finally, TheStreet cut shares of Leggett & Platt from a “b” rating to a “c+” rating in a research report on Friday, March 6th. One analyst has rated the stock with a sell rating, six have issued a hold rating and one has issued a strong buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $34.17.
Shares of NYSE LEG opened at $34.61 on Wednesday. The firm has a market cap of $4.58 billion, a PE ratio of 13.90, a P/E/G ratio of 2.19 and a beta of 1.54. Leggett & Platt, Inc. has a 12-month low of $22.03 and a 12-month high of $55.42. The company’s fifty day simple moving average is $32.26 and its 200 day simple moving average is $38.06. The company has a quick ratio of 1.32, a current ratio of 2.08 and a debt-to-equity ratio of 2.05.
Leggett & Platt (NYSE:LEG) last issued its earnings results on Monday, May 4th. The company reported $0.41 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.40 by $0.01. The business had revenue of $1.05 billion for the quarter, compared to analyst estimates of $1.09 billion. Leggett & Platt had a net margin of 6.86% and a return on equity of 26.61%. Leggett & Platt’s revenue was down 9.5% on a year-over-year basis. During the same period in the prior year, the firm earned $0.49 earnings per share. On average, equities analysts predict that Leggett & Platt, Inc. will post 1.22 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 15th. Investors of record on Monday, June 15th will be paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 4.62%. The ex-dividend date of this dividend is Friday, June 12th. Leggett & Platt’s dividend payout ratio is presently 62.26%.
About Leggett & Platt
Leggett & Platt, Incorporated designs and produces various engineered components and products worldwide. It operates through four segments: Residential Products, Furniture Products, Industrial Products, and Specialized Products. The Residential Products segment offers innersprings, wire forms, and machines to shape wire into various types of springs; industrial sewing/finishing machines, conveyor lines, mattress packaging, and glue-drying equipment, as well as quilting machines; and structural fabrics, carpet cushions, and geo components.
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