Dimensional Fund Advisors LP Buys 262,145 Shares of Leggett & Platt, Incorporated (NYSE:LEG)

Dimensional Fund Advisors LP raised its stake in shares of Leggett & Platt, Incorporated (NYSE:LEGFree Report) by 12.4% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 2,373,959 shares of the company’s stock after acquiring an additional 262,145 shares during the period. Dimensional Fund Advisors LP owned approximately 1.78% of Leggett & Platt worth $62,127,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. Insight Folios Inc lifted its stake in shares of Leggett & Platt by 5.2% in the 4th quarter. Insight Folios Inc now owns 9,374 shares of the company’s stock worth $245,000 after purchasing an additional 460 shares during the period. Federated Hermes Inc. lifted its stake in shares of Leggett & Platt by 2.8% in the 3rd quarter. Federated Hermes Inc. now owns 18,641 shares of the company’s stock worth $474,000 after purchasing an additional 499 shares during the period. Arizona State Retirement System lifted its stake in shares of Leggett & Platt by 1.4% in the 3rd quarter. Arizona State Retirement System now owns 37,901 shares of the company’s stock worth $963,000 after purchasing an additional 523 shares during the period. Covestor Ltd lifted its stake in shares of Leggett & Platt by 17.6% in the 3rd quarter. Covestor Ltd now owns 3,575 shares of the company’s stock worth $91,000 after purchasing an additional 535 shares during the period. Finally, GPS Wealth Strategies Group LLC lifted its stake in shares of Leggett & Platt by 15.1% in the 4th quarter. GPS Wealth Strategies Group LLC now owns 4,624 shares of the company’s stock worth $121,000 after purchasing an additional 605 shares during the period. Institutional investors own 64.23% of the company’s stock.

Insider Buying and Selling at Leggett & Platt

In related news, Director Mark A. Blinn acquired 6,000 shares of the business’s stock in a transaction on Thursday, May 23rd. The stock was acquired at an average cost of $10.74 per share, with a total value of $64,440.00. Following the acquisition, the director now directly owns 32,302 shares in the company, valued at approximately $346,923.48. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other Leggett & Platt news, Director Mark A. Blinn bought 6,000 shares of the business’s stock in a transaction that occurred on Thursday, May 23rd. The stock was purchased at an average cost of $10.74 per share, with a total value of $64,440.00. Following the completion of the acquisition, the director now owns 32,302 shares in the company, valued at approximately $346,923.48. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Ryan Michael Kleiboeker bought 10,000 shares of the business’s stock in a transaction that occurred on Thursday, May 2nd. The stock was acquired at an average cost of $13.39 per share, with a total value of $133,900.00. Following the completion of the acquisition, the executive vice president now owns 41,535 shares of the company’s stock, valued at approximately $556,153.65. The disclosure for this purchase can be found here. Insiders own 1.57% of the company’s stock.

Leggett & Platt Price Performance

NYSE LEG opened at $10.64 on Monday. Leggett & Platt, Incorporated has a 12 month low of $10.44 and a 12 month high of $32.86. The stock has a market cap of $1.43 billion, a price-to-earnings ratio of -9.17 and a beta of 1.19. The company’s 50 day moving average is $16.24 and its two-hundred day moving average is $20.86. The company has a current ratio of 1.57, a quick ratio of 0.89 and a debt-to-equity ratio of 1.37.

Leggett & Platt (NYSE:LEGGet Free Report) last announced its quarterly earnings data on Tuesday, April 30th. The company reported $0.23 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.01). Leggett & Platt had a negative net margin of 3.44% and a positive return on equity of 11.31%. The company had revenue of $1.10 billion for the quarter, compared to analysts’ expectations of $1.11 billion. During the same period last year, the business earned $0.39 earnings per share. The company’s quarterly revenue was down 9.6% compared to the same quarter last year. As a group, research analysts anticipate that Leggett & Platt, Incorporated will post 1.13 earnings per share for the current year.

Leggett & Platt Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Friday, June 14th will be issued a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a yield of 1.88%. The ex-dividend date of this dividend is Friday, June 14th. Leggett & Platt’s dividend payout ratio (DPR) is currently -17.24%.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on LEG shares. Truist Financial lowered their price objective on shares of Leggett & Platt from $16.00 to $13.00 and set a “hold” rating on the stock in a research note on Friday, May 3rd. Piper Sandler lowered their price objective on shares of Leggett & Platt from $16.00 to $13.00 and set an “underweight” rating on the stock in a research note on Wednesday, May 1st. TheStreet cut shares of Leggett & Platt from a “c” rating to a “d+” rating in a research note on Monday, March 11th. StockNews.com upgraded shares of Leggett & Platt from a “sell” rating to a “hold” rating in a research note on Tuesday, May 7th. Finally, The Goldman Sachs Group decreased their target price on shares of Leggett & Platt from $20.00 to $14.00 and set a “neutral” rating on the stock in a research note on Thursday, May 2nd. One equities research analyst has rated the stock with a sell rating and three have given a hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $13.33.

View Our Latest Report on Leggett & Platt

Leggett & Platt Profile

(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.

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

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