Principal Financial Group Inc. Buys 19,467 Shares of Leggett & Platt, Incorporated (NYSE:LEG)

Principal Financial Group Inc. grew its holdings in shares of Leggett & Platt, Incorporated (NYSE:LEG) by 3.1% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 651,204 shares of the company’s stock after purchasing an additional 19,467 shares during the quarter. Principal Financial Group Inc. owned about 0.48% of Leggett & Platt worth $6,252,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. State Street Corp increased its position in shares of Leggett & Platt by 0.6% during the 3rd quarter. State Street Corp now owns 4,437,066 shares of the company’s stock valued at $60,657,000 after purchasing an additional 27,693 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of Leggett & Platt by 2.9% in the 3rd quarter. Geode Capital Management LLC now owns 2,156,322 shares of the company’s stock worth $29,377,000 after acquiring an additional 60,166 shares in the last quarter. Wellington Management Group LLP bought a new stake in Leggett & Platt in the third quarter worth $15,735,000. Invenomic Capital Management LP increased its holdings in shares of Leggett & Platt by 384.1% in the 3rd quarter. Invenomic Capital Management LP now owns 921,472 shares of the company’s stock worth $12,550,000 after purchasing an additional 731,132 shares in the last quarter. Finally, FMR LLC raised its holdings in shares of Leggett & Platt by 3,264.5% during the third quarter. FMR LLC now owns 692,884 shares of the company’s stock valued at $9,437,000 after purchasing an additional 672,290 shares during the last quarter. 64.23% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts have commented on the company. The Goldman Sachs Group reduced their price target on Leggett & Platt from $14.00 to $12.00 and set a “neutral” rating for the company in a research report on Tuesday, January 14th. Truist Financial lowered their target price on shares of Leggett & Platt from $13.00 to $11.00 and set a “hold” rating for the company in a report on Wednesday, January 29th. Four investment analysts have rated the stock with a hold rating, According to data from MarketBeat.com, Leggett & Platt has an average rating of “Hold” and an average price target of $12.00.

Leggett & Platt Price Performance

Shares of NYSE LEG opened at $9.16 on Monday. The company has a debt-to-equity ratio of 2.70, a quick ratio of 1.14 and a current ratio of 2.00. The firm has a fifty day moving average of $10.06 and a 200 day moving average of $11.56. The firm has a market cap of $1.23 billion, a PE ratio of -2.45 and a beta of 1.12. Leggett & Platt, Incorporated has a one year low of $8.95 and a one year high of $21.03.

Leggett & Platt (NYSE:LEG) last issued its earnings results on Thursday, February 13th. The company reported $0.21 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.21. The company had revenue of $1.06 billion during the quarter, compared to analysts’ expectations of $1.03 billion. Leggett & Platt had a positive return on equity of 17.09% and a negative net margin of 11.67%. As a group, research analysts predict that Leggett & Platt, Incorporated will post 1.14 EPS for the current fiscal year.

Leggett & Platt Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Friday, March 14th will be given a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a yield of 2.18%. The ex-dividend date is Friday, March 14th. Leggett & Platt’s payout ratio is -5.36%.

Leggett & Platt Company Profile

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 Products, Specialized Products, and Furniture, Flooring & Textile Products.