Intact Investment Management Inc. Invests $2.98 Million in Leggett & Platt, Incorporated (NYSE:LEG)

Intact Investment Management Inc. bought a new position in Leggett & Platt, Incorporated (NYSE:LEG) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 113,800 shares of the company’s stock, valued at approximately $2,978,000.

A number of other hedge funds have also modified their holdings of the stock. Vanguard Group Inc. grew its position in Leggett & Platt by 0.9% during the 3rd quarter. Vanguard Group Inc. now owns 12,946,981 shares of the company’s stock worth $328,983,000 after acquiring an additional 117,499 shares during the last quarter. South Dakota Investment Council grew its position in Leggett & Platt by 52.9% during the 4th quarter. South Dakota Investment Council now owns 145,846 shares of the company’s stock worth $3,817,000 after acquiring an additional 50,438 shares during the last quarter. Fifth Third Bancorp grew its position in Leggett & Platt by 253.3% during the 4th quarter. Fifth Third Bancorp now owns 1,007 shares of the company’s stock worth $26,000 after acquiring an additional 722 shares during the last quarter. Pacer Advisors Inc. grew its position in Leggett & Platt by 68.5% during the 4th quarter. Pacer Advisors Inc. now owns 1,934,905 shares of the company’s stock worth $50,636,000 after acquiring an additional 786,297 shares during the last quarter. Finally, Invesco Ltd. grew its position in Leggett & Platt by 45.7% during the 3rd quarter. Invesco Ltd. now owns 1,699,580 shares of the company’s stock worth $43,186,000 after acquiring an additional 532,780 shares during the last quarter. 64.23% of the stock is owned by institutional investors and hedge funds.

Leggett & Platt Stock Up 0.2 %

Shares of NYSE:LEG traded up $0.03 during midday trading on Friday, reaching $17.99. The company had a trading volume of 1,510,890 shares, compared to its average volume of 1,482,541. The company has a quick ratio of 0.84, a current ratio of 1.49 and a debt-to-equity ratio of 1.26. The business’s 50 day moving average price is $19.12 and its 200 day moving average price is $22.39. The stock has a market cap of $2.41 billion, a PE ratio of -17.99 and a beta of 1.17. Leggett & Platt, Incorporated has a 1-year low of $17.19 and a 1-year high of $33.50.

Leggett & Platt (NYSE:LEG) last released its earnings results on Friday, February 9th. The company reported $0.26 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.27 by ($0.01). The company had revenue of $1.12 billion during the quarter, compared to analyst estimates of $1.11 billion. Leggett & Platt had a negative net margin of 2.90% and a positive return on equity of 11.99%. Leggett & Platt’s revenue was down 6.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.39 EPS. Research analysts forecast that Leggett & Platt, Incorporated will post 1.17 EPS for the current fiscal year.

Leggett & Platt Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Friday, March 15th were issued a dividend of $0.46 per share. This represents a $1.84 dividend on an annualized basis and a yield of 10.23%. The ex-dividend date of this dividend was Thursday, March 14th. Leggett & Platt’s payout ratio is currently -184.00%.

Analysts Set New Price Targets

A number of research analysts have commented on the company. TheStreet lowered Leggett & Platt from a “c” rating to a “d+” rating in a research report on Monday, March 11th. StockNews.com downgraded Leggett & Platt from a “hold” rating to a “sell” rating in a research note on Monday, March 11th. Finally, Truist Financial dropped their price target on Leggett & Platt from $18.00 to $16.00 and set a “hold” rating on the stock in a research note on Tuesday, March 26th. Two equities research analysts have rated the stock with a sell rating and two have assigned a hold rating to the company. According to data from MarketBeat.com, Leggett & Platt has an average rating of “Hold” and an average target price of $19.33.

About Leggett & Platt

Leggett & Platt, Incorporated designs, manufactures, and sells engineered components and products in the United States, Europe, China, Canada, Mexico, and internationally. It operates through three segments: Bedding Products; Specialized Products; and Furniture, Flooring & Textile Products. The company offers steel rods, drawn wires, specialty foam chemicals and additives, innersprings, specialty foam for use in bedding and furniture, private label finished mattresses, ready-to-assemble mattress foundations, static foundations, and adjustable beds, as well as machines for producing innersprings; industrial sewing and quilting machines; mattress-packaging; and glue-drying equipment for various industrial users of steel rod and wire, manufacturers of finished bedding, bedding brands and mattress retailers, E-commerce retailers, big box retailers, department stores, and home improvement centers.