Wealth Enhancement Advisory Services LLC Purchases 44,876 Shares of Leggett & Platt, Incorporated (NYSE:LEG)

Wealth Enhancement Advisory Services LLC raised its position in Leggett & Platt, Incorporated (NYSE:LEG - Free Report) by 114.4% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 84,103 shares of the company's stock after buying an additional 44,876 shares during the period. Wealth Enhancement Advisory Services LLC owned 0.06% of Leggett & Platt worth $807,000 as of its most recent filing with the SEC.

Other hedge funds have also recently modified their holdings of the company. SRS Capital Advisors Inc. lifted its holdings in Leggett & Platt by 555.8% during the fourth quarter. SRS Capital Advisors Inc. now owns 3,102 shares of the company's stock worth $30,000 after acquiring an additional 2,629 shares during the period. SBI Securities Co. Ltd. bought a new stake in shares of Leggett & Platt during the 4th quarter worth $50,000. KBC Group NV boosted its holdings in shares of Leggett & Platt by 74.5% in the 4th quarter. KBC Group NV now owns 7,028 shares of the company's stock worth $67,000 after buying an additional 3,000 shares during the last quarter. Sterling Capital Management LLC grew its position in Leggett & Platt by 17.1% during the fourth 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 during the period. Finally, HighTower Advisors LLC purchased a new stake in Leggett & Platt during the fourth quarter worth about $97,000. Institutional investors own 64.23% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on LEG shares. The Goldman Sachs Group boosted their target price on shares of Leggett & Platt from $8.00 to $9.00 and gave the company a "neutral" rating in a research note on Wednesday, April 30th. Piper Sandler reiterated a "neutral" rating and issued a $9.00 price objective (down previously from $12.00) on shares of Leggett & Platt in a research note on Friday, April 11th.

Leggett & Platt Stock Performance

Leggett & Platt stock traded up $0.36 during midday trading on Tuesday, reaching $9.61. The stock had a trading volume of 1,499,407 shares, compared to its average volume of 2,526,070. The firm has a market capitalization of $1.30 billion, a PE ratio of -2.58 and a beta of 0.75. Leggett & Platt, Incorporated has a 12 month low of $6.47 and a 12 month high of $14.23. The company has a quick ratio of 1.14, a current ratio of 2.00 and a debt-to-equity ratio of 2.70. The firm's 50-day moving average price is $8.36 and its 200 day moving average price is $9.40.

Leggett & Platt (NYSE:LEG - Get Free Report) last released its quarterly earnings data on Monday, April 28th. The company reported $0.24 EPS for the quarter, topping the consensus estimate of $0.23 by $0.01. The company had revenue of $1.02 billion during the quarter, compared to the consensus estimate of $1.02 billion. Leggett & Platt had a negative net margin of 11.67% and a positive return on equity of 17.09%. Leggett & Platt's revenue for the quarter was down 6.8% on a year-over-year basis. During the same period last year, the firm earned $0.23 EPS. As a group, research analysts predict that Leggett & Platt, Incorporated will post 1.14 earnings per share for the current fiscal year.

Leggett & Platt Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Friday, June 13th will be issued a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a yield of 2.08%. The ex-dividend date of this dividend is Friday, June 13th. Leggett & Platt's payout ratio is presently -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.