Leggett & Platt, Incorporated (NYSE:LEG) Shares Purchased by Neo Ivy Capital Management

Neo Ivy Capital Management boosted its position in Leggett & Platt, Incorporated (NYSE:LEG - Get Rating) by 3,577.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 28,722 shares of the company's stock after purchasing an additional 27,941 shares during the period. Neo Ivy Capital Management's holdings in Leggett & Platt were worth $926,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in LEG. Rockefeller Capital Management L.P. lifted its position in shares of Leggett & Platt by 179.6% during the 4th quarter. Rockefeller Capital Management L.P. now owns 2,024 shares of the company's stock valued at $64,000 after acquiring an additional 1,300 shares during the period. Regal Investment Advisors LLC lifted its position in shares of Leggett & Platt by 18.1% during the 4th quarter. Regal Investment Advisors LLC now owns 80,983 shares of the company's stock valued at $2,610,000 after acquiring an additional 12,402 shares during the period. Voya Investment Management LLC lifted its position in shares of Leggett & Platt by 324.1% during the 4th quarter. Voya Investment Management LLC now owns 74,346 shares of the company's stock valued at $2,396,000 after acquiring an additional 56,817 shares during the period. Natixis acquired a new stake in shares of Leggett & Platt during the 4th quarter valued at approximately $204,000. Finally, IMS Capital Management acquired a new stake in shares of Leggett & Platt during the 4th quarter valued at approximately $229,000. Institutional investors and hedge funds own 69.42% of the company's stock.

In related news, Director Phoebe A. Wood sold 6,000 shares of Leggett & Platt stock in a transaction on Tuesday, May 23rd. The shares were sold at an average price of $32.61, for a total transaction of $195,660.00. Following the transaction, the director now owns 53,109 shares in the company, valued at approximately $1,731,884.49. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 1.62% of the company's stock.

Shares of NYSE LEG traded down $0.70 during trading on Monday, hitting $30.99. 737,632 shares of the company traded hands, compared to its average volume of 845,521. Leggett & Platt, Incorporated has a 1 year low of $30.05 and a 1 year high of $41.94. The company has a 50-day moving average price of $31.73 and a 200-day moving average price of $33.13. The firm has a market capitalization of $4.13 billion, a P/E ratio of 15.85 and a beta of 1.30. The company has a quick ratio of 1.16, a current ratio of 2.08 and a debt-to-equity ratio of 1.27.

Leggett & Platt (NYSE:LEG - Get Rating) last announced its quarterly earnings data on Monday, May 1st. The company reported $0.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.26 by $0.13. Leggett & Platt had a net margin of 5.42% and a return on equity of 16.83%. The company had revenue of $1.21 billion during the quarter, compared to analysts' expectations of $1.19 billion. During the same period in the previous year, the company earned $0.66 EPS. The business's quarterly revenue was down 8.2% compared to the same quarter last year. On average, equities analysts predict that Leggett & Platt, Incorporated will post 1.61 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 14th. Investors of record on Thursday, June 15th will be issued a dividend of $0.46 per share. This is a positive change from Leggett & Platt's previous quarterly dividend of $0.44. The ex-dividend date is Wednesday, June 14th. This represents a $1.84 annualized dividend and a dividend yield of 5.94%. Leggett & Platt's payout ratio is presently 88.00%.

Several brokerages recently issued reports on LEG. StockNews.com began coverage on Leggett & Platt in a research report on Thursday, May 18th. They set a "hold" rating for the company. The Goldman Sachs Group cut shares of Leggett & Platt from a "buy" rating to a "neutral" rating and lowered their target price for the stock from $39.00 to $34.00 in a research note on Tuesday, April 11th. Finally, Piper Sandler lowered their target price on shares of Leggett & Platt from $24.00 to $21.00 and set an "underweight" rating for the company in a research note on Wednesday, February 8th.

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, Flooring, Furniture & Textile, and Specialized Products. The Bedding Products segment supplies products and components for the home, including mattress springs and specialty foam, as well as adjustable beds, bedding machinery, steel rod, and drawn wire.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to [email protected].

Before you consider Leggett & Platt, you'll want to hear this.

MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Leggett & Platt wasn't on the list.

While Leggett & Platt currently has a "Hold" rating among analysts, top-rated analysts believe these five stocks are better buys.

View The Five Stocks Here

Click the link below and we'll send you MarketBeat's list of seven stocks and why their long-term outlooks are very promising.

Sign up for MarketBeat All Access to gain access to MarketBeat's full suite of research tools:

View the latest news, buy/sell ratings, SEC filings and insider transactions for your stocks. Compare your portfolio performance to leading indices and get personalized stock ideas based on your portfolio.

Get daily stock ideas from top-performing Wall Street analysts. Get short term trading ideas from the MarketBeat Idea Engine. View which stocks are hot on social media with MarketBeat's trending stocks report.

Identify stocks that meet your criteria using seven unique stock screeners. See what's happening in the market right now with MarketBeat's real-time news feed. Export data to Excel for your own analysis.