Counterpoint Mutual Funds LLC Makes New $666,000 Investment in Leggett & Platt, Incorporated (NYSE:LEG)

Counterpoint Mutual Funds LLC acquired a new stake in shares of Leggett & Platt, Incorporated (NYSE:LEG) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 69,412 shares of the company’s stock, valued at approximately $666,000. Counterpoint Mutual Funds LLC owned about 0.05% of Leggett & Platt at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of LEG. Point72 Asia Singapore Pte. Ltd. purchased a new stake in Leggett & Platt during the third quarter valued at approximately $29,000. Point72 Hong Kong Ltd bought a new stake in shares of Leggett & Platt during the third quarter valued at approximately $37,000. SRS Capital Advisors Inc. grew its position in shares of Leggett & Platt by 555.8% during the 4th quarter. SRS Capital Advisors Inc. now owns 3,102 shares of the company’s stock worth $30,000 after buying an additional 2,629 shares in the last quarter. Brooklyn Investment Group bought a new stake in shares of Leggett & Platt in the 3rd quarter valued at about $44,000. Finally, SBI Securities Co. Ltd. bought a new stake in Leggett & Platt during the 4th quarter valued at $50,000. Hedge funds and other institutional investors own 64.23% of the company’s stock.

Leggett & Platt Stock Up 1.6 %

Shares of NYSE LEG opened at $8.12 on Monday. The business’s 50 day moving average is $9.82 and its two-hundred day moving average is $11.27. Leggett & Platt, Incorporated has a 52-week low of $7.92 and a 52-week high of $19.33. The firm has a market cap of $1.09 billion, a price-to-earnings ratio of -2.18 and a beta of 1.11. The company has a quick ratio of 1.14, a current ratio of 2.00 and a debt-to-equity ratio of 2.70.

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

Leggett & Platt Announces Dividend

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

Wall Street Analyst Weigh In

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

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.