Alberta Investment Management Corp bought a new position in shares of Leggett & Platt, Incorporated (NYSE:LEG - Free Report) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 228,695 shares of the company's stock, valued at approximately $2,678,000. Alberta Investment Management Corp owned 0.17% of Leggett & Platt as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds have also recently added to or reduced their stakes in LEG. Elevation Wealth Partners LLC grew its holdings in Leggett & Platt by 752.8% during the 2nd quarter. Elevation Wealth Partners LLC now owns 2,311 shares of the company's stock worth $27,000 after acquiring an additional 2,040 shares in the last quarter. Motiv8 Investments LLC acquired a new stake in Leggett & Platt in the fourth quarter valued at $34,000. Palisade Asset Management LLC purchased a new stake in Leggett & Platt during the 3rd quarter worth about $29,000. Hantz Financial Services Inc. lifted its holdings in Leggett & Platt by 32.0% during the 4th quarter. Hantz Financial Services Inc. now owns 3,231 shares of the company's stock worth $36,000 after buying an additional 783 shares during the last quarter. Finally, Advisory Services Network LLC acquired a new position in shares of Leggett & Platt during the 3rd quarter worth about $51,000. Institutional investors and hedge funds own 64.23% of the company's stock.
Analyst Upgrades and Downgrades
Several brokerages have recently weighed in on LEG. Weiss Ratings cut Leggett & Platt from a "hold (c)" rating to a "hold (c-)" rating in a research note on Wednesday, July 29th. Truist Financial dropped their price target on shares of Leggett & Platt from $13.00 to $11.00 and set a "hold" rating on the stock in a research note on Friday, May 8th. Zacks Research upgraded shares of Leggett & Platt from a "strong sell" rating to a "hold" rating in a research note on Monday, July 20th. Finally, Piper Sandler cut their price objective on shares of Leggett & Platt from $12.00 to $10.00 and set a "neutral" rating on the stock in a report on Wednesday, August 12th. Five research analysts have rated the stock with a Hold rating, According to data from MarketBeat, Leggett & Platt presently has an average rating of "Hold" and an average target price of $10.67.
Check Out Our Latest Stock Analysis on LEG
Leggett & Platt Stock Performance
Shares of LEG stock opened at $9.55 on Tuesday. The stock's 50-day moving average is $10.71 and its two-hundred day moving average is $10.74. The company has a debt-to-equity ratio of 1.38, a quick ratio of 1.53 and a current ratio of 2.35. Leggett & Platt, Incorporated has a 1 year low of $8.34 and a 1 year high of $13.00. The firm has a market cap of $1.30 billion, a price-to-earnings ratio of 6.12 and a beta of 0.73.
Leggett & Platt (NYSE:LEG - Get Free Report) last announced its earnings results on Thursday, August 6th. The company reported $0.39 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.26 by $0.13. The firm had revenue of $999.70 million during the quarter, compared to analysts' expectations of $982.86 million. Leggett & Platt had a return on equity of 13.31% and a net margin of 5.64%.The business's revenue was down 5.5% on a year-over-year basis. During the same period in the prior year, the firm earned $0.30 EPS. Analysts predict that Leggett & Platt, Incorporated will post 1.04 earnings per share for the current year.
Leggett & Platt Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, August 24th. Shareholders of record on Monday, August 10th will be paid a $0.05 dividend. The ex-dividend date is Monday, August 10th. This represents a $0.20 dividend on an annualized basis and a yield of 2.1%. Leggett & Platt's payout ratio is currently 12.82%.
Leggett & Platt Profile
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Free Report)
Leggett & Platt, Inc is a diversified manufacturer specializing in the design, engineering and production of a wide range of engineered components and products. The company's offerings span several end markets, including residential bedding, commercial and residential furniture, automotive seating and interiors, aerospace applications and industrial products. By integrating product design with proprietary manufacturing processes, Leggett & Platt serves as a key supplier to both original equipment manufacturers and aftermarket distributors.
The company's core product lines include coil springs and support systems for mattresses and furniture, adjustable bed mechanisms, engineered components such as extruded and formed metal products, and specialty foam and bedding products.
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