Virtu Financial LLC Makes New $512,000 Investment in Leggett & Platt, Incorporated (NYSE:LEG)

Virtu Financial LLC acquired a new position in shares of Leggett & Platt, Incorporated (NYSE:LEG) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 53,301 shares of the company’s stock, valued at approximately $512,000.

Other hedge funds have also modified their holdings of the company. CIBC Asset Management Inc increased its holdings in Leggett & Platt by 7.7% during the 4th quarter. CIBC Asset Management Inc now owns 13,986 shares of the company’s stock worth $134,000 after purchasing an additional 1,001 shares during the period. Swiss National Bank boosted its stake in shares of Leggett & Platt by 0.8% in the 4th quarter. Swiss National Bank now owns 263,900 shares of the company’s stock valued at $2,533,000 after buying an additional 2,100 shares during the period. Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of Leggett & Platt during the third quarter worth about $29,000. SRS Capital Advisors Inc. increased its stake in shares of Leggett & Platt by 555.8% during the fourth quarter. SRS Capital Advisors Inc. now owns 3,102 shares of the company’s stock worth $30,000 after buying an additional 2,629 shares during the period. Finally, Point72 Hong Kong Ltd acquired a new stake in Leggett & Platt in the third quarter valued at approximately $37,000. 64.23% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

LEG has been the subject of several analyst reports. Truist Financial dropped 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 lowered their target price on shares of Leggett & Platt from $14.00 to $12.00 and set a “neutral” rating for the company in a research note on Tuesday, January 14th.

Leggett & Platt Price Performance

LEG stock opened at $8.05 on Wednesday. The stock has a market cap of $1.08 billion, a price-to-earnings ratio of -2.16 and a beta of 1.11. Leggett & Platt, Incorporated has a fifty-two week low of $7.92 and a fifty-two week high of $19.33. The company has a quick ratio of 1.14, a current ratio of 2.00 and a debt-to-equity ratio of 2.70. The business has a 50 day moving average price of $9.58 and a 200 day moving average price of $11.07.

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

Leggett & Platt Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Friday, March 14th will be given a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a dividend yield of 2.48%. The ex-dividend date is Friday, March 14th. 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.