AQR Capital Management LLC Purchases 1,838,009 Shares of Leggett & Platt, Incorporated (NYSE:LEG)

AQR Capital Management LLC grew its position in shares of Leggett & Platt, Incorporated (NYSE:LEG) by 1,098.0% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,005,408 shares of the company’s stock after purchasing an additional 1,838,009 shares during the quarter. AQR Capital Management LLC owned approximately 1.50% of Leggett & Platt worth $22,160,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Treasurer of the State of North Carolina boosted its stake in shares of Leggett & Platt by 1.0% in the 4th quarter. Treasurer of the State of North Carolina now owns 58,754 shares of the company’s stock valued at $1,538,000 after purchasing an additional 570 shares in the last quarter. TFO Wealth Partners LLC grew its stake in shares of Leggett & Platt by 10,833.3% during the fourth quarter. TFO Wealth Partners LLC now owns 656 shares of the company’s stock valued at $157,000 after buying an additional 650 shares during the last quarter. New York State Teachers Retirement System increased its holdings in shares of Leggett & Platt by 0.4% in the first quarter. New York State Teachers Retirement System now owns 161,369 shares of the company’s stock worth $3,090,000 after buying an additional 700 shares during the period. Arizona State Retirement System lifted its stake in shares of Leggett & Platt by 2.2% in the 2nd quarter. Arizona State Retirement System now owns 37,438 shares of the company’s stock valued at $429,000 after acquiring an additional 799 shares during the last quarter. Finally, State of Michigan Retirement System boosted its holdings in Leggett & Platt by 2.5% during the 1st quarter. State of Michigan Retirement System now owns 32,748 shares of the company’s stock valued at $627,000 after acquiring an additional 800 shares during the period. 64.23% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts have recently weighed in on LEG shares. The Goldman Sachs Group dropped their price objective on Leggett & Platt from $14.00 to $12.00 and set a “neutral” rating for the company in a research note on Wednesday, July 10th. StockNews.com raised shares of Leggett & Platt from a “sell” rating to a “hold” rating in a research note on Wednesday, August 28th. Finally, Truist Financial raised their target price on Leggett & Platt from $11.00 to $13.00 and gave the stock a “hold” rating in a research note on Monday, August 5th. One investment analyst has rated the stock with a sell rating and three have assigned a hold rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $12.67.

Leggett & Platt Price Performance

Shares of NYSE LEG opened at $13.63 on Tuesday. The company has a debt-to-equity ratio of 2.55, a current ratio of 1.53 and a quick ratio of 0.88. Leggett & Platt, Incorporated has a 1 year low of $10.11 and a 1 year high of $27.58. The company’s 50-day moving average is $12.68 and its 200 day moving average is $13.67. The stock has a market capitalization of $1.83 billion, a P/E ratio of -11.75 and a beta of 1.07.

Leggett & Platt (NYSE:LEG) last released its earnings results on Thursday, August 1st. The company reported $0.29 EPS for the quarter, meeting analysts’ consensus estimates of $0.29. Leggett & Platt had a positive return on equity of 12.65% and a negative net margin of 18.05%. The company had revenue of $1.13 billion during the quarter, compared to analysts’ expectations of $1.13 billion. On average, sell-side analysts expect that Leggett & Platt, Incorporated will post 1.14 earnings per share for the current year.

Leggett & Platt Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Friday, September 13th will be issued a dividend of $0.05 per share. The ex-dividend date is Friday, September 13th. This represents a $0.20 annualized dividend and a dividend yield of 1.47%. Leggett & Platt’s payout ratio is -17.24%.

Leggett & Platt Company Profile

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.