Sei Investments Co. Has $3.87 Million Stock Holdings in Leggett & Platt, Incorporated $LEG

Key Points

• Sei Investments increased its Leggett & Platt stake by 79.4% in the first quarter, holding 391,653 shares worth approximately $3.87 million. Institutional investors and hedge funds collectively own 64.23% of the company.
• Analysts maintain a cautious outlook, with five Hold ratings and a consensus price target of $11.33; Truist Financial lowered its target from $13 to $11.
• Leggett & Platt beat quarterly estimates with EPS of $0.39 versus $0.26 expected and revenue of $999.7 million, although revenue fell 5.5% year over year. The company also declared a quarterly dividend of $0.05 per share, implying a 2.1% annualized yield.

Sei Investments Co. lifted its holdings in shares of Leggett & Platt, Incorporated (NYSE:LEG - Free Report) by 79.4% in the first quarter, according to its most recent filing with the SEC. The firm owned 391,653 shares of the company's stock after acquiring an additional 173,306 shares during the period. Sei Investments Co. owned approximately 0.29% of Leggett & Platt worth $3,870,000 as of its most recent filing with the SEC.

Several other institutional investors have also made changes to their positions in the business. Palisade Asset Management LLC bought a new position in Leggett & Platt during the third quarter worth about $29,000. Motiv8 Investments LLC bought a new stake in shares of Leggett & Platt in the 4th quarter valued at approximately $34,000. Hantz Financial Services Inc. grew its stake in shares of Leggett & Platt by 32.0% in the 4th quarter. Hantz Financial Services Inc. now owns 3,231 shares of the company's stock valued at $36,000 after purchasing an additional 783 shares during the period. Advisory Services Network LLC acquired a new position in shares of Leggett & Platt in the 3rd quarter worth approximately $51,000. Finally, Kingdom Financial Group LLC. bought a new position in shares of Leggett & Platt during the 4th quarter worth approximately $66,000. 64.23% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts recently commented on LEG shares. Truist Financial decreased their price target on Leggett & Platt from $13.00 to $11.00 and set a "hold" rating on the stock in a research note on Friday, May 8th. Weiss Ratings lowered Leggett & Platt from a "hold (c)" rating to a "hold (c-)" rating in a research note on Wednesday, July 29th. Finally, Zacks Research raised Leggett & Platt from a "strong sell" rating to a "hold" rating in a report on Monday, July 20th. Five research analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, Leggett & Platt has an average rating of "Hold" and a consensus target price of $11.33.

Leggett & Platt Price Performance

Shares of Leggett & Platt stock opened at $9.68 on Friday. The stock has a market capitalization of $1.32 billion, a price-to-earnings ratio of 6.01 and a beta of 0.73. The firm's 50-day moving average price is $10.77 and its two-hundred day moving average price is $10.88. The company has a current ratio of 2.33, a quick ratio of 1.45 and a debt-to-equity ratio of 1.44. Leggett & Platt, Incorporated has a 1-year low of $8.32 and a 1-year high of $13.00.

Leggett & Platt (NYSE:LEG - Get Free Report) last posted 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 company had revenue of $999.70 million during the quarter, compared to analysts' expectations of $982.86 million. Leggett & Platt had a net margin of 5.69% and a return on equity of 12.62%. Leggett & Platt's quarterly revenue was down 5.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.30 earnings per share. On average, equities analysts predict that Leggett & Platt, Incorporated will post 0.9 earnings per share for the current fiscal 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 given a $0.05 dividend. The ex-dividend date is Monday, August 10th. This represents a $0.20 annualized dividend and a yield of 2.1%. Leggett & Platt's payout ratio is presently 12.42%.

Leggett & Platt Company Profile

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.

Want to see what other hedge funds are holding LEG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Leggett & Platt, Incorporated (NYSE:LEG - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source