American Century Companies Inc. Raises Stake in Leggett & Platt, Incorporated (NYSE:LEG)

American Century Companies Inc. lifted its position in shares of Leggett & Platt, Incorporated (NYSE:LEGFree Report) by 332.4% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 233,806 shares of the company’s stock after buying an additional 179,734 shares during the quarter. American Century Companies Inc.’s holdings in Leggett & Platt were worth $5,941,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Point72 Asset Management L.P. purchased a new stake in shares of Leggett & Platt during the second quarter worth about $28,000. Ramirez Asset Management Inc. acquired a new stake in shares of Leggett & Platt in the third quarter worth approximately $25,000. Quent Capital LLC boosted its position in shares of Leggett & Platt by 133.6% in the third quarter. Quent Capital LLC now owns 1,014 shares of the company’s stock worth $26,000 after acquiring an additional 580 shares during the last quarter. Industrial Alliance Investment Management Inc. acquired a new stake in shares of Leggett & Platt in the fourth quarter worth approximately $48,000. Finally, Ancora Advisors LLC boosted its position in shares of Leggett & Platt by 119.4% in the first quarter. Ancora Advisors LLC now owns 1,700 shares of the company’s stock worth $78,000 after acquiring an additional 925 shares during the last quarter. 64.23% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms recently issued reports on LEG. StockNews.com cut shares of Leggett & Platt from a “hold” rating to a “sell” rating in a research report on Monday, March 11th. TheStreet cut shares of Leggett & Platt from a “c” rating to a “d+” rating in a research report on Monday, March 11th. Finally, Truist Financial decreased their target price on shares of Leggett & Platt from $18.00 to $16.00 and set a “hold” rating on the stock in a research report on Tuesday. Two investment analysts have rated the stock with a sell rating and two have given a hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $19.33.

Get Our Latest Research Report on Leggett & Platt

Leggett & Platt Trading Down 3.3 %

Shares of LEG stock opened at $18.08 on Wednesday. The stock has a market cap of $2.42 billion, a price-to-earnings ratio of -18.08 and a beta of 1.18. The company has a quick ratio of 0.84, a current ratio of 1.49 and a debt-to-equity ratio of 1.26. Leggett & Platt, Incorporated has a fifty-two week low of $17.81 and a fifty-two week high of $33.50. The firm’s 50 day moving average price is $21.06 and its two-hundred day moving average price is $23.50.

Leggett & Platt (NYSE:LEGGet Free Report) last announced its quarterly earnings results on Friday, February 9th. The company reported $0.26 earnings per share for the quarter, missing analysts’ consensus estimates of $0.27 by ($0.01). The business had revenue of $1.12 billion for the quarter, compared to analyst estimates of $1.11 billion. Leggett & Platt had a negative net margin of 2.90% and a positive return on equity of 11.99%. The company’s quarterly revenue was down 6.7% on a year-over-year basis. During the same period last year, the firm earned $0.39 earnings per share. On average, analysts anticipate that Leggett & Platt, Incorporated will post 1.17 EPS for the current year.

Leggett & Platt Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, April 15th. Stockholders of record on Friday, March 15th will be paid a dividend of $0.46 per share. The ex-dividend date of this dividend is Thursday, March 14th. This represents a $1.84 dividend on an annualized basis and a dividend yield of 10.18%. Leggett & Platt’s dividend payout ratio is currently -184.00%.

About Leggett & Platt

(Free Report)

Leggett & Platt, Incorporated designs, manufactures, and sells engineered components and products in the United States, Europe, China, Canada, Mexico, and internationally. It operates through three segments: Bedding Products; Specialized Products; and Furniture, Flooring & Textile Products. The company offers steel rods, drawn wires, specialty foam chemicals and additives, innersprings, specialty foam for use in bedding and furniture, private label finished mattresses, ready-to-assemble mattress foundations, static foundations, and adjustable beds, as well as machines for producing innersprings; industrial sewing and quilting machines; mattress-packaging; and glue-drying equipment for various industrial users of steel rod and wire, manufacturers of finished bedding, bedding brands and mattress retailers, E-commerce retailers, big box retailers, department stores, and home improvement centers.

Further Reading

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Institutional Ownership by Quarter for Leggett & Platt (NYSE:LEG)

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