Strs Ohio purchased a new stake in Leggett & Platt, Incorporated (NYSE:LEG - Get Rating) during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 37,622 shares of the company's stock, valued at approximately $1,249,000.
Several other institutional investors have also recently added to or reduced their stakes in LEG. Cibc World Market Inc. boosted its holdings in Leggett & Platt by 3.7% in the 2nd quarter. Cibc World Market Inc. now owns 8,304 shares of the company's stock valued at $287,000 after purchasing an additional 299 shares in the last quarter. Geneos Wealth Management Inc. boosted its holdings in Leggett & Platt by 18.9% in the 1st quarter. Geneos Wealth Management Inc. now owns 1,915 shares of the company's stock valued at $66,000 after purchasing an additional 305 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in Leggett & Platt by 0.6% in the 2nd quarter. Price T Rowe Associates Inc. MD now owns 56,604 shares of the company's stock valued at $1,957,000 after purchasing an additional 312 shares in the last quarter. Archford Capital Strategies LLC boosted its holdings in Leggett & Platt by 3.0% in the 3rd quarter. Archford Capital Strategies LLC now owns 11,016 shares of the company's stock valued at $366,000 after purchasing an additional 324 shares in the last quarter. Finally, Avantax Advisory Services Inc. boosted its holdings in Leggett & Platt by 5.8% in the 2nd quarter. Avantax Advisory Services Inc. now owns 6,534 shares of the company's stock valued at $226,000 after purchasing an additional 357 shares in the last quarter. Institutional investors and hedge funds own 69.42% of the company's stock.
Analyst Upgrades and Downgrades
A number of equities research analysts have weighed in on the company. TheStreet lowered Leggett & Platt from a "b-" rating to a "c+" rating in a report on Thursday, October 20th. The Goldman Sachs Group decreased their price target on Leggett & Platt from $45.00 to $40.00 and set a "buy" rating on the stock in a research note on Wednesday, October 12th. Piper Sandler lowered Leggett & Platt from a "neutral" rating to an "underweight" rating and decreased their price target for the stock from $31.00 to $24.00 in a research note on Monday, December 12th. Truist Financial reduced their target price on Leggett & Platt from $41.00 to $35.00 in a research note on Tuesday, October 11th. Finally, StockNews.com upgraded Leggett & Platt from a "sell" rating to a "hold" rating in a report on Friday, January 6th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and one has given a buy rating to the company's stock. According to MarketBeat, Leggett & Platt presently has an average rating of "Hold" and a consensus price target of $37.25.
Leggett & Platt Stock Performance
Shares of LEG stock opened at $35.49 on Friday. The company has a debt-to-equity ratio of 1.37, a quick ratio of 1.06 and a current ratio of 2.07. Leggett & Platt, Incorporated has a one year low of $30.28 and a one year high of $42.58. The company's 50-day simple moving average is $34.05 and its 200-day simple moving average is $35.69. The stock has a market capitalization of $4.71 billion, a price-to-earnings ratio of 13.39 and a beta of 1.26.
Leggett & Platt (NYSE:LEG - Get Rating) last issued its quarterly earnings results on Monday, October 31st. The company reported $0.52 EPS for the quarter, topping the consensus estimate of $0.49 by $0.03. Leggett & Platt had a net margin of 6.86% and a return on equity of 22.32%. The business had revenue of $1.29 billion for the quarter, compared to analysts' expectations of $1.23 billion. During the same quarter last year, the company posted $0.71 earnings per share. The company's quarterly revenue was down 2.2% compared to the same quarter last year. Equities analysts anticipate that Leggett & Platt, Incorporated will post 2.36 earnings per share for the current fiscal year.
Leggett & Platt Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 13th. Investors of record on Thursday, December 15th will be paid a dividend of $0.44 per share. The ex-dividend date is Wednesday, December 14th. This represents a $1.76 annualized dividend and a yield of 4.96%. Leggett & Platt's dividend payout ratio (DPR) is 66.42%.
About Leggett & Platt
Leggett & Platt, Incorporated designs, manufactures, and markets engineered components and products worldwide. It operates through three segments: Bedding Products; Specialized Products; and Furniture, Flooring & Textile Products. The company offers steel rods, drawn wires, foam chemicals and additives, innersprings, specialty foams, private label finished mattresses, mattress foundations, wire forms for mattress foundations, adjustable beds, industrial sewing and quilting machines, and mattress packaging and glue drying equipment, as well as machines to produce innersprings for industrial users of steel rods and wires, manufacturers of finished bedding, big box and e-commerce retailers, bedding brands and mattress retailers, department stores, and home improvement centers.
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