Lcnb Corp Purchases New Position in Leggett & Platt, Incorporated (NYSE:LEG)

Key Points

• Lcnb Corp purchased 31,243 shares of Leggett & Platt, valued at approximately $247,000, indicating growing institutional interest in the company.
• Leggett & Platt reported earnings per share (EPS) of $0.30 for the last quarter, surpassing analysts' expectations of $0.29, despite a year-over-year revenue decline of 6.3%.
• The company announced a quarterly dividend of $0.05 per share, representing a 2.3% yield based on an annualized payout of $0.20.

Lcnb Corp acquired a new stake in Leggett & Platt, Incorporated (NYSE:LEG - Free Report) in the 1st quarter, according to the company in its most recent filing with the SEC. The fund acquired 31,243 shares of the company's stock, valued at approximately $247,000.

Other hedge funds also recently modified their holdings of the company. Cerity Partners LLC raised its stake in shares of Leggett & Platt by 24.8% during the 4th quarter. Cerity Partners LLC now owns 104,092 shares of the company's stock valued at $999,000 after purchasing an additional 20,690 shares during the period. Invesco Ltd. lifted its holdings in Leggett & Platt by 6.5% in the 4th quarter. Invesco Ltd. now owns 803,440 shares of the company's stock worth $7,713,000 after buying an additional 48,925 shares during the period. Raymond James Financial Inc. bought a new position in shares of Leggett & Platt in the 4th quarter worth approximately $575,000. Jaffetilchin Investment Partners LLC bought a new position in shares of Leggett & Platt in the 4th quarter worth approximately $1,046,000. Finally, Sterling Capital Management LLC increased its position in Leggett & Platt by 17.1% during the 4th quarter. Sterling Capital Management LLC now owns 7,972 shares of the company's stock valued at $77,000 after buying an additional 1,163 shares in the last quarter. Institutional investors own 64.23% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts recently commented on LEG shares. Wall Street Zen lowered Leggett & Platt from a "buy" rating to a "hold" rating in a report on Saturday, August 2nd. Piper Sandler reissued a "neutral" rating and set a $9.00 price target (down previously from $10.00) on shares of Leggett & Platt in a report on Monday, August 4th. Finally, The Goldman Sachs Group upped their price objective on Leggett & Platt from $8.00 to $9.00 and gave the stock a "neutral" rating in a research note on Wednesday, April 30th.

Leggett & Platt Trading Up 5.0%

LEG stock traded up $0.45 during midday trading on Wednesday, reaching $9.42. 621,707 shares of the company traded hands, compared to its average volume of 2,511,583. The company has a debt-to-equity ratio of 2.09, a quick ratio of 1.36 and a current ratio of 2.17. The business has a 50 day moving average of $9.47 and a 200-day moving average of $9.00. Leggett & Platt, Incorporated has a 52-week low of $6.47 and a 52-week high of $14.23. The firm has a market capitalization of $1.27 billion, a price-to-earnings ratio of 9.12 and a beta of 0.70.

Leggett & Platt (NYSE:LEG - Get Free Report) last announced its quarterly earnings results on Thursday, July 31st. The company reported $0.30 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.29 by $0.01. The business had revenue of $1.06 billion for the quarter, compared to the consensus estimate of $1.06 billion. Leggett & Platt had a return on equity of 19.42% and a net margin of 3.36%. The business's revenue was down 6.3% compared to the same quarter last year. During the same period last year, the business posted $0.29 EPS. As a group, sell-side analysts expect that Leggett & Platt, Incorporated will post 1.14 earnings per share for the current fiscal year.

Leggett & Platt Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 15th. Stockholders of record on Monday, September 15th will be issued a $0.05 dividend. This represents a $0.20 annualized dividend and a dividend yield of 2.1%. The ex-dividend date of this dividend is Monday, September 15th. Leggett & Platt's payout ratio is 19.42%.

Leggett & Platt 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.