AXQ Capital LP Acquires New Position in Leggett & Platt, Incorporated (NYSE:LEG)

AXQ Capital LP bought a new position in Leggett & Platt, Incorporated (NYSE:LEG) in the fourth quarter, Holdings Channel reports. The firm bought 80,287 shares of the company’s stock, valued at approximately $771,000.

Several other large investors also recently bought and sold shares of LEG. CIBC Asset Management Inc boosted its holdings in Leggett & Platt by 7.7% in the 4th quarter. CIBC Asset Management Inc now owns 13,986 shares of the company’s stock worth $134,000 after buying an additional 1,001 shares during the last quarter. Swiss National Bank grew its stake in Leggett & Platt by 0.8% during the 4th quarter. Swiss National Bank now owns 263,900 shares of the company’s stock valued at $2,533,000 after acquiring an additional 2,100 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new stake in Leggett & Platt in the 3rd quarter valued at about $29,000. SRS Capital Advisors Inc. lifted its stake in Leggett & Platt by 555.8% in the 4th quarter. SRS Capital Advisors Inc. now owns 3,102 shares of the company’s stock worth $30,000 after purchasing an additional 2,629 shares in the last quarter. Finally, Point72 Hong Kong Ltd acquired a new position in shares of Leggett & Platt during the 3rd quarter worth approximately $37,000. Hedge funds and other institutional investors own 64.23% of the company’s stock.

Analyst Upgrades and Downgrades

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

Leggett & Platt Stock Down 1.0 %

Shares of NYSE:LEG opened at $8.22 on Friday. The business has a 50-day moving average price of $9.66 and a 200 day moving average price of $11.13. Leggett & Platt, Incorporated has a 12-month low of $7.92 and a 12-month high of $19.33. The company has a current ratio of 2.00, a quick ratio of 1.14 and a debt-to-equity ratio of 2.70. The company has a market capitalization of $1.11 billion, a price-to-earnings ratio of -2.20 and a beta of 1.11.

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

Leggett & Platt Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Friday, March 14th will be issued a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a dividend yield of 2.43%. The ex-dividend date is Friday, March 14th. Leggett & Platt’s dividend payout ratio (DPR) is currently -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.