Virtu Financial LLC Purchases New Shares in Leggett & Platt, Incorporated (NYSE:LEG)

Virtu Financial LLC acquired a new position in shares of Leggett & Platt, Incorporated (NYSE:LEG) during the 4th quarter, Holdings Channel.com reports. The fund acquired 53,301 shares of the company’s stock, valued at approximately $512,000.

Other institutional investors also recently bought and sold shares of the company. Quantbot Technologies LP purchased a new position in shares of Leggett & Platt during the fourth quarter worth about $1,455,000. Magnetar Financial LLC acquired a new stake in Leggett & Platt during the 4th quarter worth approximately $164,000. Counterpoint Mutual Funds LLC purchased a new position in shares of Leggett & Platt in the 4th quarter valued at approximately $666,000. Swiss National Bank increased its holdings in shares of Leggett & Platt by 0.8% in the fourth quarter. Swiss National Bank now owns 263,900 shares of the company’s stock valued at $2,533,000 after purchasing an additional 2,100 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. raised its stake in shares of Leggett & Platt by 79.9% during the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 540,503 shares of the company’s stock worth $5,189,000 after purchasing an additional 240,108 shares during the last quarter. 64.23% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on LEG shares. Truist Financial lowered their price objective on shares of Leggett & Platt from $13.00 to $11.00 and set a “hold” rating on the stock in a research report on Wednesday, January 29th. The Goldman Sachs Group cut their price target on shares of 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

Leggett & Platt stock opened at $8.05 on Wednesday. The company has a market cap of $1.08 billion, a P/E ratio of -2.16 and a beta of 1.11. Leggett & Platt, Incorporated has a one year low of $7.92 and a one year high of $19.33. The business has a fifty day moving average of $9.58 and a two-hundred day moving average of $11.07. The company has a debt-to-equity ratio of 2.70, a quick ratio of 1.14 and a current ratio of 2.00.

Leggett & Platt (NYSE:LEG) last announced its quarterly 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 business had revenue of $1.06 billion during the quarter, compared to the consensus estimate of $1.03 billion. Leggett & Platt had a negative net margin of 11.67% and a positive return on equity of 17.09%. As a group, analysts predict that Leggett & Platt, Incorporated will post 1.14 earnings per share for the current fiscal year.

Leggett & Platt Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Friday, March 14th will be paid a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a dividend yield of 2.48%. The ex-dividend date is Friday, March 14th. Leggett & Platt’s dividend payout ratio (DPR) is -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.