AlphaQuest LLC Sells 18,267 Shares of Leggett & Platt, Incorporated (NYSE:LEG)

AlphaQuest LLC decreased its position in shares of Leggett & Platt, Incorporated (NYSE:LEG) by 40.5% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor 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 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Wellington Management Group LLP purchased a new position in shares of Leggett & Platt during the 3rd quarter valued at about $15,735,000. Invenomic Capital Management LP raised its stake in shares of Leggett & Platt by 384.1% during the third quarter. Invenomic Capital Management LP now owns 921,472 shares of the company’s stock worth $12,550,000 after acquiring an additional 731,132 shares in the last quarter. FMR LLC lifted its holdings in shares of Leggett & Platt by 3,264.5% in the 3rd quarter. FMR LLC now owns 692,884 shares of the company’s stock worth $9,437,000 after acquiring an additional 672,290 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its stake in shares of Leggett & Platt by 4.7% in 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. Finally, JPMorgan Chase & Co. grew its holdings in shares of Leggett & Platt by 38.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 581,665 shares of the company’s stock valued at $7,922,000 after purchasing an additional 160,104 shares during the last quarter. Institutional investors own 64.23% of the company’s stock.

Analyst Ratings Changes

Several research firms have issued reports on LEG. Truist Financial cut their price target 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. The Goldman Sachs Group dropped their target price on Leggett & Platt from $14.00 to $12.00 and set a “neutral” rating for the company in a report on Tuesday, January 14th.

Leggett & Platt Price Performance

Shares of Leggett & Platt stock opened at $8.12 on Friday. The business has a 50 day moving average of $9.82 and a 200 day moving average of $11.28. Leggett & Platt, Incorporated has a 52 week low of $7.92 and a 52 week high of $19.33. The company has a market cap of $1.09 billion, a PE 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 posted its earnings results on Thursday, February 13th. The company reported $0.21 EPS for the quarter, hitting the consensus estimate of $0.21. Leggett & Platt had a negative net margin of 11.67% and a positive return on equity of 17.09%. The firm had revenue of $1.06 billion during the quarter, compared to analysts’ expectations of $1.03 billion. As a group, equities research analysts forecast that Leggett & Platt, Incorporated will post 1.14 earnings per share for the current year.

Leggett & Platt Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Friday, March 14th will be given a $0.05 dividend. This represents a $0.20 annualized dividend and a dividend yield of 2.46%. The ex-dividend date of this dividend is Friday, March 14th. Leggett & Platt’s dividend payout ratio is currently -5.36%.

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.