Mutual Advisors LLC Acquires 37,715 Shares of Leggett & Platt, Incorporated (NYSE:LEG)

Mutual Advisors LLC lifted its holdings in shares of Leggett & Platt, Incorporated (NYSE:LEG - Free Report) by 55.1% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 106,106 shares of the company's stock after purchasing an additional 37,715 shares during the quarter. Mutual Advisors LLC owned 0.08% of Leggett & Platt worth $774,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Sterling Capital Management LLC lifted its stake in Leggett & Platt by 17.1% in the 4th quarter. Sterling Capital Management LLC now owns 7,972 shares of the company's stock valued at $77,000 after acquiring an additional 1,163 shares in the last quarter. Oppenheimer & Co. Inc. boosted its holdings in shares of Leggett & Platt by 8.9% in the 1st quarter. Oppenheimer & Co. Inc. now owns 24,501 shares of the company's stock valued at $194,000 after buying an additional 2,000 shares during the last quarter. Swiss National Bank grew its stake in shares of Leggett & Platt by 0.8% in the fourth quarter. Swiss National Bank now owns 263,900 shares of the company's stock valued at $2,533,000 after buying an additional 2,100 shares in the last quarter. Deutsche Bank AG increased its holdings in Leggett & Platt by 3.2% during the fourth quarter. Deutsche Bank AG now owns 67,319 shares of the company's stock worth $646,000 after buying an additional 2,109 shares during the last quarter. Finally, Investors Research Corp increased its holdings in Leggett & Platt by 10.5% during the first quarter. Investors Research Corp now owns 28,322 shares of the company's stock worth $224,000 after buying an additional 2,687 shares during the last quarter. Institutional investors and hedge funds own 64.23% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the stock. The Goldman Sachs Group boosted their target price on shares of Leggett & Platt from $8.00 to $9.00 and gave the stock a "neutral" rating in a report on Wednesday, April 30th. Wall Street Zen upgraded shares of Leggett & Platt from a "hold" rating to a "buy" rating in a report on Saturday. Finally, Piper Sandler restated a "neutral" rating and set a $9.00 target price (down from $12.00) on shares of Leggett & Platt in a report on Friday, April 11th.

Leggett & Platt Stock Performance

NYSE LEG traded up $0.16 on Wednesday, reaching $10.08. The stock had a trading volume of 2,027,198 shares, compared to its average volume of 2,199,937. The company has a debt-to-equity ratio of 2.59, a current ratio of 2.20 and a quick ratio of 1.36. The firm has a fifty day moving average of $9.29 and a two-hundred day moving average of $9.09. Leggett & Platt, Incorporated has a 1-year low of $6.48 and a 1-year high of $14.24. The company has a market cap of $1.36 billion, a P/E ratio of -2.70 and a beta of 0.74.

Leggett & Platt (NYSE:LEG - Get Free Report) last issued its quarterly earnings data on Monday, April 28th. The company reported $0.24 EPS for the quarter, beating analysts' consensus estimates of $0.23 by $0.01. Leggett & Platt had a positive return on equity of 20.46% and a negative net margin of 11.89%. The firm had revenue of $1.02 billion for the quarter, compared to analyst estimates of $1.02 billion. During the same period in the prior year, the firm posted $0.23 EPS. The company's revenue for the quarter was down 6.8% on a year-over-year basis. On average, equities research analysts anticipate that Leggett & Platt, Incorporated will post 1.14 EPS for the current year.

Leggett & Platt Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Friday, June 13th will be given a dividend of $0.05 per share. The ex-dividend date of this dividend is Friday, June 13th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.98%. Leggett & Platt's payout ratio is -5.35%.

Leggett & Platt Company 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.