Arbor Wealth Advisors LLC Makes New $1.49 Million Investment in Leggett & Platt, Incorporated (NYSE:LEG)

Arbor Wealth Advisors LLC bought a new stake in shares of Leggett & Platt, Incorporated (NYSE:LEG - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm bought 56,752 shares of the company's stock, valued at approximately $1,485,000. Leggett & Platt makes up about 1.5% of Arbor Wealth Advisors LLC's portfolio, making the stock its 14th largest position.

Other hedge funds and other institutional investors have also modified their holdings of the company. Ramirez Asset Management Inc. acquired a new stake in shares of Leggett & Platt in the 3rd quarter valued at about $25,000. Fifth Third Bancorp raised its stake in Leggett & Platt by 253.3% during the fourth quarter. Fifth Third Bancorp now owns 1,007 shares of the company's stock valued at $26,000 after buying an additional 722 shares in the last quarter. GAMMA Investing LLC bought a new position in Leggett & Platt during the 4th quarter worth approximately $40,000. ORG Partners LLC acquired a new position in shares of Leggett & Platt in the 4th quarter worth approximately $49,000. Finally, Hexagon Capital Partners LLC increased its holdings in shares of Leggett & Platt by 67.5% in the 3rd quarter. Hexagon Capital Partners LLC now owns 1,930 shares of the company's stock valued at $49,000 after acquiring an additional 778 shares during the last quarter. 64.23% of the stock is owned by hedge funds and other institutional investors.

Leggett & Platt Stock Performance

Shares of LEG traded down $0.06 during mid-day trading on Tuesday, reaching $18.21. 1,349,668 shares of the company's stock traded hands, compared to its average volume of 1,647,023. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.84 and a current ratio of 1.49. The business's 50-day moving average price is $19.26 and its 200-day moving average price is $22.57. The stock has a market capitalization of $2.43 billion, a P/E ratio of -18.21 and a beta of 1.17. Leggett & Platt, Incorporated has a 12 month low of $17.19 and a 12 month high of $33.50.

Leggett & Platt (NYSE:LEG - Get Free Report) last announced its earnings results on Friday, February 9th. The company reported $0.26 earnings per share for the quarter, missing the consensus estimate of $0.27 by ($0.01). Leggett & Platt had a negative net margin of 2.90% and a positive return on equity of 11.99%. The business had revenue of $1.12 billion for the quarter, compared to the consensus estimate of $1.11 billion. During the same period in the previous year, the firm earned $0.39 EPS. The firm's revenue was down 6.7% on a year-over-year basis. Equities analysts predict that Leggett & Platt, Incorporated will post 1.17 earnings per share for the current year.

Leggett & Platt Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Friday, March 15th were given a $0.46 dividend. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $1.84 dividend on an annualized basis and a yield of 10.11%. Leggett & Platt's dividend payout ratio is presently -184.00%.

Analyst Ratings Changes

LEG has been the subject of a number of research reports. TheStreet downgraded shares of Leggett & Platt from a "c" rating to a "d+" rating in a report on Monday, March 11th. Truist Financial cut their price target on Leggett & Platt from $18.00 to $16.00 and set a "hold" rating on the stock in a report on Tuesday, March 26th. Finally, StockNews.com lowered Leggett & Platt from a "hold" rating to a "sell" rating in a research report on Monday, March 11th. Two analysts have rated the stock with a sell rating and two have issued a hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $19.33.

Leggett & Platt Profile

Leggett & Platt, Incorporated designs, manufactures, and sells engineered components and products in the United States, Europe, China, Canada, Mexico, and internationally. It operates through three segments: Bedding Products; Specialized Products; and Furniture, Flooring & Textile Products. The company offers steel rods, drawn wires, specialty foam chemicals and additives, innersprings, specialty foam for use in bedding and furniture, private label finished mattresses, ready-to-assemble mattress foundations, static foundations, and adjustable beds, as well as machines for producing innersprings; industrial sewing and quilting machines; mattress-packaging; and glue-drying equipment for various industrial users of steel rod and wire, manufacturers of finished bedding, bedding brands and mattress retailers, E-commerce retailers, big box retailers, department stores, and home improvement centers.

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