Dimensional Fund Advisors LP Acquires 221,468 Shares of Leggett & Platt, Incorporated (NYSE:LEG)

Dimensional Fund Advisors LP raised its holdings in Leggett & Platt, Incorporated (NYSE:LEG – Get Rating) by 11.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,233,966 shares of the company’s stock after acquiring an additional 221,468 shares during the period. Dimensional Fund Advisors LP owned about 1.68% of Leggett & Platt worth $72,000,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. BlackRock Inc. lifted its stake in shares of Leggett & Platt by 2.0% in the third quarter. BlackRock Inc. now owns 15,118,584 shares of the company’s stock worth $502,239,000 after acquiring an additional 301,672 shares during the period. State Street Corp grew its holdings in Leggett & Platt by 35.5% during the first quarter. State Street Corp now owns 14,506,308 shares of the company’s stock worth $510,661,000 after buying an additional 3,803,469 shares in the last quarter. Vanguard Group Inc. grew its holdings in Leggett & Platt by 0.5% during the third quarter. Vanguard Group Inc. now owns 12,946,780 shares of the company’s stock worth $430,093,000 after buying an additional 64,443 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of Leggett & Platt by 5.8% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 4,879,061 shares of the company’s stock valued at $169,791,000 after purchasing an additional 265,480 shares during the last quarter. Finally, Epoch Investment Partners Inc. increased its position in shares of Leggett & Platt by 19.8% during the 3rd quarter. Epoch Investment Partners Inc. now owns 1,868,700 shares of the company’s stock valued at $62,078,000 after purchasing an additional 308,509 shares during the last quarter. Institutional investors own 69.42% of the company’s stock.

Insider Buying and Selling at Leggett & Platt

In related news, Director Phoebe A. Wood sold 6,000 shares of Leggett & Platt stock in a transaction dated Tuesday, May 23rd. The stock was sold at an average price of $32.61, for a total value of $195,660.00. Following the completion of the transaction, the director now owns 53,109 shares in the company, valued at approximately $1,731,884.49. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 1.57% of the company’s stock.

Leggett & Platt Trading Down 1.1 %

Shares of NYSE LEG opened at $31.63 on Friday. The company has a debt-to-equity ratio of 1.27, a quick ratio of 1.16 and a current ratio of 2.08. The business’s 50 day moving average price is $31.66 and its 200-day moving average price is $33.32. Leggett & Platt, Incorporated has a fifty-two week low of $30.05 and a fifty-two week high of $41.94. The company has a market cap of $4.21 billion, a price-to-earnings ratio of 15.82 and a beta of 1.30.

Leggett & Platt (NYSE:LEG – Get Rating) last announced its earnings results on Monday, May 1st. The company reported $0.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.26 by $0.13. The business had revenue of $1.21 billion for the quarter, compared to analysts’ expectations of $1.19 billion. Leggett & Platt had a return on equity of 16.83% and a net margin of 5.42%. The business’s revenue for the quarter was down 8.2% on a year-over-year basis. During the same quarter last year, the firm earned $0.66 EPS. On average, sell-side analysts expect that Leggett & Platt, Incorporated will post 1.61 earnings per share for the current year.

Leggett & Platt Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 14th. Shareholders of record on Thursday, June 15th will be paid a dividend of $0.46 per share. The ex-dividend date is Wednesday, June 14th. This represents a $1.84 dividend on an annualized basis and a dividend yield of 5.82%. This is a positive change from Leggett & Platt’s previous quarterly dividend of $0.44. Leggett & Platt’s dividend payout ratio (DPR) is presently 88.00%.

Wall Street Analyst Weigh In

Several brokerages have commented on LEG. Piper Sandler cut their target price on Leggett & Platt from $24.00 to $21.00 and set an “underweight” rating for the company in a research note on Wednesday, February 8th. StockNews.com assumed coverage on Leggett & Platt in a research report on Thursday, May 18th. They set a “hold” rating on the stock. Finally, The Goldman Sachs Group cut Leggett & Platt from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $39.00 to $34.00 in a research note on Tuesday, April 11th.

About Leggett & Platt

(Get Rating)

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, Flooring, Furniture & Textile, and Specialized Products. The Bedding Products segment supplies products and components for the home, including mattress springs and specialty foam, as well as adjustable beds, bedding machinery, steel rod, and drawn wire.