Polymer Capital Management US LLC Makes New $223,000 Investment in Leggett & Platt, Incorporated (NYSE:LEG)

Polymer Capital Management US LLC bought a new position in Leggett & Platt, Incorporated (NYSE:LEG) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 23,210 shares of the company’s stock, valued at approximately $223,000.

A number of other institutional investors have also made changes to their positions in the company. Cerity Partners LLC boosted its holdings in Leggett & Platt by 24.8% in the fourth quarter. Cerity Partners LLC now owns 104,092 shares of the company’s stock worth $999,000 after purchasing an additional 20,690 shares during the period. Aster Capital Management DIFC Ltd lifted its position in shares of Leggett & Platt by 1,163.9% in the 4th quarter. Aster Capital Management DIFC Ltd now owns 49,836 shares of the company’s stock worth $478,000 after buying an additional 45,893 shares during the last quarter. Dynamic Technology Lab Private Ltd acquired a new position in shares of Leggett & Platt in the 4th quarter valued at about $619,000. Bryce Point Capital LLC bought a new stake in shares of Leggett & Platt during the 4th quarter valued at about $418,000. Finally, Trexquant Investment LP raised its stake in Leggett & Platt by 89.0% during the fourth quarter. Trexquant Investment LP now owns 1,177,891 shares of the company’s stock worth $11,308,000 after acquiring an additional 554,814 shares during the period. 64.23% of the stock is currently owned by institutional investors.

Leggett & Platt Price Performance

Shares of NYSE:LEG opened at $6.85 on Wednesday. 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 firm’s 50 day moving average is $8.90 and its two-hundred day moving average is $10.70. The firm has a market capitalization of $922.25 million, a P/E ratio of -1.84 and a beta of 0.98. Leggett & Platt, Incorporated has a 52 week low of $6.68 and a 52 week high of $19.33.

Leggett & Platt (NYSE:LEG) last announced its earnings results on Thursday, February 13th. The company reported $0.21 earnings per share for the quarter, meeting the consensus estimate of $0.21. The firm had revenue of $1.06 billion for the quarter, compared to the consensus estimate of $1.03 billion. Leggett & Platt had a positive return on equity of 17.09% and a negative net margin of 11.67%. Analysts anticipate 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. Investors of record on Friday, March 14th will be issued a dividend of $0.05 per share. The ex-dividend date is Friday, March 14th. This represents a $0.20 annualized dividend and a yield of 2.92%. Leggett & Platt’s payout ratio is -5.36%.

Analyst Upgrades and Downgrades

Several research firms have recently commented on LEG. The Goldman Sachs Group lowered 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. 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 note on Wednesday, January 29th.

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.