Point72 Asia Singapore Pte. Ltd. Makes New $29,000 Investment in Leggett & Platt, Incorporated (NYSE:LEG)

Point72 Asia Singapore Pte. Ltd. bought a new position in Leggett & Platt, Incorporated (NYSE:LEG) during the third quarter, Holdings Channel.com reports. The firm bought 2,116 shares of the company’s stock, valued at approximately $29,000.

Several other institutional investors also recently modified their holdings of the business. Pacer Advisors Inc. boosted its position in Leggett & Platt by 426.2% in the second quarter. Pacer Advisors Inc. now owns 14,042,134 shares of the company’s stock worth $160,923,000 after purchasing an additional 11,373,507 shares during the last quarter. AQR Capital Management LLC raised its stake in shares of Leggett & Platt by 1,098.0% during the 2nd quarter. AQR Capital Management LLC now owns 2,005,408 shares of the company’s stock worth $22,160,000 after purchasing an additional 1,838,009 shares during the period. FMR LLC boosted 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 buying an additional 672,290 shares during the last quarter. Principal Financial Group Inc. grew its position in Leggett & Platt by 31.0% during the second quarter. Principal Financial Group Inc. now owns 658,117 shares of the company’s stock valued at $7,542,000 after buying an additional 155,860 shares during the period. Finally, Public Sector Pension Investment Board purchased a new stake in Leggett & Platt during the second quarter worth about $3,380,000. 64.23% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts have weighed in on LEG shares. Piper Sandler upgraded shares of Leggett & Platt from an “underweight” rating to a “neutral” rating and boosted their target price for the company from $11.00 to $13.00 in a research note on Wednesday, October 30th. StockNews.com upgraded Leggett & Platt from a “sell” rating to a “hold” rating in a research note on Wednesday, August 28th. Four equities research analysts have rated the stock with a hold rating, According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $12.67.

Leggett & Platt Price Performance

NYSE LEG opened at $11.77 on Friday. The company has a quick ratio of 0.84, a current ratio of 1.48 and a debt-to-equity ratio of 2.13. The company has a market cap of $1.58 billion, a PE ratio of -1.96 and a beta of 1.07. Leggett & Platt, Incorporated has a 52 week low of $10.11 and a 52 week high of $27.58. The firm’s 50-day simple moving average is $12.49 and its two-hundred day simple moving average is $12.26.

Leggett & Platt (NYSE:LEG) last announced its quarterly earnings results on Monday, October 28th. The company reported $0.32 EPS for the quarter, missing analysts’ consensus estimates of $0.33 by ($0.01). Leggett & Platt had a negative net margin of 18.53% and a positive return on equity of 14.99%. The business had revenue of $1.10 billion for the quarter, compared to analysts’ expectations of $1.10 billion. During the same quarter in the previous year, the company posted $0.36 earnings per share. The business’s quarterly revenue was down 6.3% compared to the same quarter last year. Research analysts predict that Leggett & Platt, Incorporated will post 1.05 earnings per share for the current year.

Leggett & Platt Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Friday, December 13th will be given a $0.05 dividend. This represents a $0.20 annualized dividend and a dividend yield of 1.70%. The ex-dividend date of this dividend is Friday, December 13th. Leggett & Platt’s dividend payout ratio (DPR) is presently -3.33%.

Leggett & Platt Profile

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.