Teacher Retirement System of Texas Acquires New Shares in Leggett & Platt, Incorporated (NYSE:LEG)

Teacher Retirement System of Texas acquired a new stake in Leggett & Platt, Incorporated (NYSE:LEG) during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 19,632 shares of the company’s stock, valued at approximately $155,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in LEG. Vanguard Group Inc. raised its stake in Leggett & Platt by 4.9% during the 4th quarter. Vanguard Group Inc. now owns 15,478,476 shares of the company’s stock valued at $148,593,000 after buying an additional 722,024 shares during the last quarter. Marshall Wace LLP purchased a new stake in Leggett & Platt during the 4th quarter valued at $5,858,000. Invenomic Capital Management LP raised its stake in Leggett & Platt by 64.6% during the 4th quarter. Invenomic Capital Management LP now owns 1,517,156 shares of the company’s stock valued at $14,565,000 after buying an additional 595,684 shares during the last quarter. Seven Six Capital Management LLC purchased a new stake in shares of Leggett & Platt in the 4th quarter worth $5,627,000. Finally, Trexquant Investment LP increased its stake in shares of Leggett & Platt by 89.0% in the 4th quarter. Trexquant Investment LP now owns 1,177,891 shares of the company’s stock worth $11,308,000 after purchasing an additional 554,814 shares in the last quarter. 64.23% of the stock is owned by institutional investors.

Analysts Set New Price Targets

LEG has been the subject of several analyst reports. Piper Sandler restated a “neutral” rating and issued a $9.00 price objective (down from $12.00) on shares of Leggett & Platt in a research note on Friday, April 11th. Wall Street Zen raised shares of Leggett & Platt from a “hold” rating to a “buy” rating in a report on Saturday, July 5th. Finally, The Goldman Sachs Group upped their target price on shares of Leggett & Platt from $8.00 to $9.00 and gave the stock a “neutral” rating in a report on Wednesday, April 30th.

Leggett & Platt Stock Down 1.0%

Shares of NYSE:LEG opened at $9.88 on Monday. The company has a current ratio of 2.20, a quick ratio of 1.36 and a debt-to-equity ratio of 2.59. The company has a market cap of $1.34 billion, a price-to-earnings ratio of -2.64 and a beta of 0.74. Leggett & Platt, Incorporated has a 12 month low of $6.48 and a 12 month high of $14.24. The company has a 50-day moving average price of $9.38 and a 200 day moving average price of $9.10.

Leggett & Platt (NYSE:LEG) last announced its quarterly earnings data on Monday, April 28th. The company reported $0.24 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.23 by $0.01. The business had revenue of $1.02 billion during the quarter, compared to the consensus estimate of $1.02 billion. Leggett & Platt had a negative net margin of 11.89% and a positive return on equity of 20.46%. The firm’s quarterly revenue was down 6.8% compared to the same quarter last year. During the same quarter last year, the firm earned $0.23 earnings per share. As a group, equities research analysts predict that Leggett & Platt, Incorporated will post 1.14 earnings per share for the current year.

Leggett & Platt Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, July 15th. Stockholders of record on Friday, June 13th were paid a dividend of $0.05 per share. The ex-dividend date was Friday, June 13th. This represents a $0.20 annualized dividend and a dividend yield of 2.02%. Leggett & Platt’s payout ratio is currently -5.35%.

About Leggett & Platt

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.