CIBC Private Wealth Group LLC Buys 18,257 Shares of Leggett & Platt, Incorporated (NYSE:LEG)

CIBC Private Wealth Group LLC boosted its stake in shares of Leggett & Platt, Incorporated (NYSE:LEG - Get Rating) by 103.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 35,956 shares of the company's stock after purchasing an additional 18,257 shares during the quarter. CIBC Private Wealth Group LLC's holdings in Leggett & Platt were worth $1,159,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. BlackRock Inc. boosted its position in Leggett & Platt by 2.0% during the third quarter. BlackRock Inc. now owns 15,118,584 shares of the company's stock worth $502,239,000 after purchasing an additional 301,672 shares during the period. State Street Corp boosted its position in shares of Leggett & Platt by 35.5% in the first quarter. State Street Corp now owns 14,506,308 shares of the company's stock valued at $510,661,000 after acquiring an additional 3,803,469 shares during the period. Vanguard Group Inc. boosted its position in shares of Leggett & Platt by 0.5% in the third quarter. Vanguard Group Inc. now owns 12,946,780 shares of the company's stock valued at $430,093,000 after acquiring an additional 64,443 shares during the period. Charles Schwab Investment Management Inc. boosted its position in shares of Leggett & Platt by 5.8% in the first quarter. Charles Schwab Investment Management Inc. now owns 4,879,061 shares of the company's stock valued at $169,791,000 after acquiring an additional 265,480 shares during the period. Finally, Dimensional Fund Advisors LP boosted its position in shares of Leggett & Platt by 11.0% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,233,966 shares of the company's stock valued at $72,000,000 after acquiring an additional 221,468 shares during the period. 69.42% of the stock is owned by institutional investors.

A number of equities research analysts have recently issued reports on LEG shares. The Goldman Sachs Group cut shares of Leggett & Platt from a "buy" rating to a "neutral" rating and reduced their target price for the company from $39.00 to $34.00 in a research report on Tuesday, April 11th. Piper Sandler reduced 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 report on Wednesday, February 8th. Finally, StockNews.com began coverage on shares of Leggett & Platt in a research report on Thursday, May 18th. They issued a "hold" rating for the company.

LEG stock opened at $30.99 on Tuesday. The company has a market cap of $4.12 billion, a PE ratio of 15.49 and a beta of 1.30. The business has a 50-day simple moving average of $31.73 and a 200 day simple moving average of $33.11. Leggett & Platt, Incorporated has a 52 week low of $30.05 and a 52 week high of $41.94. 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 posted its quarterly earnings results on Monday, May 1st. The company reported $0.39 EPS for the quarter, beating analysts' consensus estimates of $0.26 by $0.13. The business had revenue of $1.21 billion during the quarter, compared to the consensus estimate of $1.19 billion. Leggett & Platt had a return on equity of 16.83% and a net margin of 5.42%. Leggett & Platt's revenue for the quarter was down 8.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.66 earnings per share. Sell-side analysts anticipate that Leggett & Platt, Incorporated will post 1.61 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 14th. Shareholders of record on Thursday, June 15th will be paid a dividend of $0.46 per share. This is an increase 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 yield of 5.94%. Leggett & Platt's payout ratio is presently 88.00%.

In other Leggett & Platt news, Director Phoebe A. Wood sold 6,000 shares of the business's stock in a transaction dated Tuesday, May 23rd. The stock was sold at an average price of $32.61, for a total transaction of $195,660.00. Following the completion of the transaction, the director now owns 53,109 shares of the company's stock, valued at $1,731,884.49. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 1.62% of the company's stock.

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.

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