Mirae Asset Global Investments Co. Ltd. Has $498,000 Stock Holdings in Leggett & Platt, Incorporated (NYSE:LEG)

Mirae Asset Global Investments Co. Ltd. boosted its position in shares of Leggett & Platt, Incorporated (NYSE:LEG) by 32.4% in the fourth quarter, Holdings Channel reports. The firm owned 19,039 shares of the company’s stock after purchasing an additional 4,662 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in Leggett & Platt were worth $498,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the company. Venture Visionary Partners LLC grew its holdings in shares of Leggett & Platt by 38.5% in the 4th quarter. Venture Visionary Partners LLC now owns 55,376 shares of the company’s stock valued at $1,449,000 after buying an additional 15,389 shares during the period. Prime Capital Investment Advisors LLC acquired a new position in Leggett & Platt in the fourth quarter valued at about $228,000. International Assets Investment Management LLC bought a new stake in shares of Leggett & Platt in the fourth quarter worth about $336,000. Bell Bank lifted its holdings in shares of Leggett & Platt by 5.6% during the 4th quarter. Bell Bank now owns 250,797 shares of the company’s stock valued at $6,563,000 after purchasing an additional 13,256 shares in the last quarter. Finally, Oak Thistle LLC acquired a new position in shares of Leggett & Platt in the 4th quarter valued at approximately $783,000. Institutional investors own 64.23% of the company’s stock.

Leggett & Platt Price Performance

Shares of LEG opened at $17.96 on Friday. 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 twelve month low of $17.19 and a twelve month high of $33.50. The stock has a market capitalization of $2.40 billion, a P/E ratio of -17.96 and a beta of 1.17. The company has a 50 day moving average of $19.20 and a 200-day moving average of $22.49.

Leggett & Platt (NYSE:LEG) last released its 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). Leggett & Platt had a negative net margin of 2.90% and a positive return on equity of 11.99%. The business had revenue of $1.12 billion during the quarter, compared to the consensus estimate of $1.11 billion. During the same period last year, the business posted $0.39 EPS. The firm’s revenue for the quarter was down 6.7% on a year-over-year basis. As a group, equities research analysts forecast that Leggett & Platt, Incorporated will post 1.17 EPS for the current fiscal year.

Leggett & Platt Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Friday, March 15th were given a $0.46 dividend. This represents a $1.84 dividend on an annualized basis and a dividend yield of 10.24%. The ex-dividend date of this dividend was Thursday, March 14th. Leggett & Platt’s dividend payout ratio is currently -184.00%.

Wall Street Analysts Forecast Growth

Several brokerages have commented on LEG. StockNews.com downgraded shares of Leggett & Platt from a “hold” rating to a “sell” rating in a report on Monday, March 11th. Truist Financial lowered their price objective on shares of Leggett & Platt from $18.00 to $16.00 and set a “hold” rating for the company in a research report on Tuesday, March 26th. Finally, TheStreet lowered shares of Leggett & Platt from a “c” rating to a “d+” rating in a research note on Monday, March 11th. Two investment analysts have rated the stock with a sell rating and two have given a hold rating to the company. Based on data from MarketBeat, Leggett & Platt presently has an average rating of “Hold” and an average target price of $19.33.

About Leggett & Platt

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.