AlphaQuest LLC Cuts Position in Leggett & Platt, Incorporated (NYSE:LEG)

AlphaQuest LLC trimmed its holdings in shares of Leggett & Platt, Incorporated (NYSE:LEG) by 40.5% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 26,852 shares of the company’s stock after selling 18,267 shares during the period. AlphaQuest LLC’s holdings in Leggett & Platt were worth $258,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in LEG. Amundi raised its stake in Leggett & Platt by 90.3% during the fourth quarter. Amundi now owns 82,890 shares of the company’s stock valued at $814,000 after buying an additional 39,324 shares during the last quarter. Raymond James Financial Inc. purchased a new position in shares of Leggett & Platt in the 4th quarter worth about $575,000. Aigen Investment Management LP boosted its stake in Leggett & Platt by 214.4% in the 4th quarter. Aigen Investment Management LP now owns 65,621 shares of the company’s stock worth $630,000 after purchasing an additional 44,749 shares in the last quarter. Proficio Capital Partners LLC purchased a new stake in Leggett & Platt during the 4th quarter valued at about $158,000. Finally, Charles Schwab Investment Management Inc. increased its stake in Leggett & Platt by 4.7% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 4,751,066 shares of the company’s stock valued at $45,610,000 after purchasing an additional 214,571 shares in the last quarter. 64.23% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the stock. The Goldman Sachs Group cut their price target on shares of Leggett & Platt from $14.00 to $12.00 and set a “neutral” rating on the stock in a report on Tuesday, January 14th. Truist Financial reduced their target price on Leggett & Platt from $13.00 to $11.00 and set a “hold” rating for the company in a report on Wednesday, January 29th.

Leggett & Platt Stock Up 1.6 %

Leggett & Platt stock opened at $8.12 on Friday. The stock has a market cap of $1.09 billion, a PE ratio of -2.18 and a beta of 1.11. 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 stock has a fifty day moving average of $9.82 and a 200 day moving average of $11.28. Leggett & Platt, Incorporated has a one year low of $7.92 and a one year high of $19.33.

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

Leggett & Platt Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Friday, March 14th will be paid a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a dividend yield of 2.46%. The ex-dividend date is Friday, March 14th. Leggett & Platt’s dividend payout ratio (DPR) is -5.36%.

Leggett & Platt 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.