Trexquant Investment LP Has $5.05 Million Stock Holdings in Leggett & Platt, Incorporated (NYSE:LEG)

Trexquant Investment LP lifted its position in shares of Leggett & Platt, Incorporated (NYSE:LEG) by 17.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 192,801 shares of the company’s stock after purchasing an additional 27,953 shares during the quarter. Trexquant Investment LP owned 0.14% of Leggett & Platt worth $5,046,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. boosted its position in shares of Leggett & Platt by 0.9% during the third quarter. Vanguard Group Inc. now owns 12,946,981 shares of the company’s stock worth $328,983,000 after purchasing an additional 117,499 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in Leggett & Platt by 7.0% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 6,231,637 shares of the company’s stock valued at $154,888,000 after acquiring an additional 405,363 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in Leggett & Platt by 12.4% in the 4th quarter. Dimensional Fund Advisors LP now owns 2,373,959 shares of the company’s stock valued at $62,127,000 after acquiring an additional 262,145 shares in the last quarter. Pacer Advisors Inc. lifted its position in Leggett & Platt by 68.5% in the 4th quarter. Pacer Advisors Inc. now owns 1,934,905 shares of the company’s stock valued at $50,636,000 after acquiring an additional 786,297 shares in the last quarter. Finally, Invesco Ltd. lifted its position in Leggett & Platt by 45.7% in the 3rd quarter. Invesco Ltd. now owns 1,699,580 shares of the company’s stock valued at $43,186,000 after acquiring an additional 532,780 shares in the last quarter. 64.23% of the stock is owned by institutional investors.

Leggett & Platt Stock Performance

Shares of LEG opened at $11.21 on Thursday. Leggett & Platt, Incorporated has a 52 week low of $11.02 and a 52 week high of $32.86. The firm’s 50-day simple moving average is $16.56 and its 200 day simple moving average is $21.04. The company has a current ratio of 1.57, a quick ratio of 0.89 and a debt-to-equity ratio of 1.37.

Leggett & Platt (NYSE:LEG) last announced its quarterly earnings results on Tuesday, April 30th. The company reported $0.23 EPS for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.01). Leggett & Platt had a negative net margin of 3.44% and a positive return on equity of 11.31%. The company had revenue of $1.10 billion during the quarter, compared to analyst estimates of $1.11 billion. During the same quarter last year, the company posted $0.39 EPS. The firm’s quarterly revenue was down 9.6% on a year-over-year basis. Sell-side analysts forecast that Leggett & Platt, Incorporated will post 1.13 EPS for the current fiscal year.

Leggett & Platt Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Friday, June 14th will be issued a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a yield of 1.78%. The ex-dividend date is Friday, June 14th. Leggett & Platt’s dividend payout ratio is currently -158.62%.

Insider Transactions at Leggett & Platt

In related news, EVP Ryan Michael Kleiboeker acquired 10,000 shares of the company’s stock in a transaction that occurred on Thursday, May 2nd. The stock was acquired at an average price of $13.39 per share, with a total value of $133,900.00. Following the purchase, the executive vice president now directly owns 41,535 shares in the company, valued at $556,153.65. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.57% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several research firms recently commented on LEG. TheStreet cut shares of Leggett & Platt from a “c” rating to a “d+” rating in a research report on Monday, March 11th. Piper Sandler lowered their price target on shares of Leggett & Platt from $16.00 to $13.00 and set an “underweight” rating on the stock in a research note on Wednesday, May 1st. The Goldman Sachs Group lowered their price target on shares of Leggett & Platt from $20.00 to $14.00 and set a “neutral” rating on the stock in a research note on Thursday, May 2nd. Truist Financial lowered their price target on shares of Leggett & Platt from $16.00 to $13.00 and set a “hold” rating on the stock in a research note on Friday, May 3rd. Finally, StockNews.com upgraded shares of Leggett & Platt from a “sell” rating to a “hold” rating in a research note on Tuesday, May 7th. One research analyst has rated the stock with a sell rating and three have given a hold rating to the company. Based on data from MarketBeat.com, Leggett & Platt currently has a consensus rating of “Hold” and an average target price of $13.33.

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.