Trexquant Investment LP Purchases 554,814 Shares of Leggett & Platt, Incorporated (NYSE:LEG)

Trexquant Investment LP lifted its position in shares of Leggett & Platt, Incorporated (NYSE:LEG) by 89.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,177,891 shares of the company’s stock after purchasing an additional 554,814 shares during the period. Trexquant Investment LP owned 0.88% of Leggett & Platt worth $11,308,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in LEG. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Leggett & Platt during the third quarter worth $29,000. SRS Capital Advisors Inc. raised 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. Point72 Hong Kong Ltd acquired a new stake in Leggett & Platt in the 3rd quarter worth about $37,000. SBI Securities Co. Ltd. bought a new stake in Leggett & Platt in the 4th quarter valued at about $50,000. Finally, KBC Group NV grew its position in shares of Leggett & Platt by 74.5% during the 4th quarter. KBC Group NV now owns 7,028 shares of the company’s stock worth $67,000 after purchasing an additional 3,000 shares in the last quarter. 64.23% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the stock. The Goldman Sachs Group dropped their price target on shares of Leggett & Platt from $14.00 to $12.00 and set a “neutral” rating for the company in a research report on Tuesday, January 14th. Truist Financial cut their target price on 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 Performance

NYSE LEG opened at $8.27 on Thursday. The firm’s 50 day simple moving average is $9.26 and its 200 day simple moving average is $10.91. The firm has a market capitalization of $1.11 billion, a price-to-earnings ratio of -2.22 and a beta of 1.11. The company has a current ratio of 2.00, a quick ratio of 1.14 and a debt-to-equity ratio of 2.70. Leggett & Platt, Incorporated has a 1 year low of $7.73 and a 1 year high of $19.33.

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

Leggett & Platt Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Friday, March 14th will be issued a $0.05 dividend. The ex-dividend date of this dividend is Friday, March 14th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 2.42%. 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.