Zurcher Kantonalbank Zurich Cantonalbank Buys 3,142 Shares of Leggett & Platt, Incorporated (NYSE:LEG)

Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of Leggett & Platt, Incorporated (NYSE:LEG) by 12.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 28,489 shares of the company’s stock after purchasing an additional 3,142 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Leggett & Platt were worth $746,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Pacer Advisors Inc. lifted its holdings in shares of Leggett & Platt by 68.5% during the 4th quarter. Pacer Advisors Inc. now owns 1,934,905 shares of the company’s stock valued at $50,636,000 after buying an additional 786,297 shares during the period. Qube Research & Technologies Ltd raised its holdings in Leggett & Platt by 329.6% in the 3rd quarter. Qube Research & Technologies Ltd now owns 834,221 shares of the company’s stock worth $21,198,000 after purchasing an additional 640,015 shares during the period. Invesco Ltd. lifted its position in Leggett & Platt by 45.7% during the third quarter. Invesco Ltd. now owns 1,699,580 shares of the company’s stock valued at $43,186,000 after purchasing an additional 532,780 shares in the last quarter. Hsbc Holdings PLC grew its holdings in Leggett & Platt by 675.3% during the third quarter. Hsbc Holdings PLC now owns 477,194 shares of the company’s stock valued at $12,121,000 after purchasing an additional 415,641 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its position in Leggett & Platt by 7.0% in the third quarter. Charles Schwab Investment Management Inc. now owns 6,231,637 shares of the company’s stock worth $154,888,000 after buying an additional 405,363 shares in the last quarter. Hedge funds and other institutional investors own 64.23% of the company’s stock.

Leggett & Platt Stock Performance

NYSE LEG opened at $18.33 on Tuesday. The company has a debt-to-equity ratio of 1.26, a current ratio of 1.49 and a quick ratio of 0.84. Leggett & Platt, Incorporated has a 1-year low of $17.19 and a 1-year high of $33.50. The business has a 50 day simple moving average of $19.09 and a two-hundred day simple moving average of $22.32. The stock has a market capitalization of $2.45 billion, a PE ratio of -18.33 and a beta of 1.17.

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

Leggett & Platt Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Friday, March 15th were issued a $0.46 dividend. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $1.84 dividend on an annualized basis and a dividend yield of 10.04%. Leggett & Platt’s dividend payout ratio (DPR) is presently -184.00%.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on LEG. TheStreet cut Leggett & Platt from a “c” rating to a “d+” rating in a research report on Monday, March 11th. Truist Financial lowered their price target on shares of Leggett & Platt from $18.00 to $16.00 and set a “hold” rating on the stock in a report on Tuesday, March 26th. Finally, StockNews.com cut shares of Leggett & Platt from a “hold” rating to a “sell” rating in a research note on Monday, March 11th. Two investment analysts have rated the stock with a sell rating and two have issued a hold rating to the company. Based on data from MarketBeat, Leggett & Platt has a consensus rating of “Hold” and a consensus target price of $19.33.

Leggett & Platt Company 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.