Zurcher Kantonalbank Zurich Cantonalbank Boosts Stock Position in Leggett & Platt, Incorporated (NYSE:LEG)

Zurcher Kantonalbank Zurich Cantonalbank lifted its position in Leggett & Platt, Incorporated (NYSE:LEG) by 12.4% in the 4th quarter, HoldingsChannel reports. The firm owned 28,489 shares of the company’s stock after purchasing an additional 3,142 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Leggett & Platt were worth $746,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Insight Folios Inc raised its position in Leggett & Platt by 5.2% during the 4th quarter. Insight Folios Inc now owns 9,374 shares of the company’s stock worth $245,000 after buying an additional 460 shares during the last quarter. Federated Hermes Inc. lifted its position in Leggett & Platt by 2.8% during the third quarter. Federated Hermes Inc. now owns 18,641 shares of the company’s stock valued at $474,000 after purchasing an additional 499 shares during the period. Arizona State Retirement System lifted its position in Leggett & Platt by 1.4% during the third quarter. Arizona State Retirement System now owns 37,901 shares of the company’s stock valued at $963,000 after purchasing an additional 523 shares during the period. Covestor Ltd boosted its holdings in Leggett & Platt by 17.6% in the third quarter. Covestor Ltd now owns 3,575 shares of the company’s stock valued at $91,000 after purchasing an additional 535 shares during the last quarter. Finally, GPS Wealth Strategies Group LLC grew its position in Leggett & Platt by 15.1% during the 4th quarter. GPS Wealth Strategies Group LLC now owns 4,624 shares of the company’s stock worth $121,000 after purchasing an additional 605 shares during the period. Institutional investors and hedge funds own 64.23% of the company’s stock.

Analyst Upgrades and Downgrades

LEG has been the subject of several analyst reports. TheStreet cut Leggett & Platt from a “c” rating to a “d+” rating in a report on Monday, March 11th. StockNews.com downgraded Leggett & Platt from a “hold” rating to a “sell” rating in a report on Monday, March 11th. Finally, Truist Financial dropped their price objective on shares of Leggett & Platt from $18.00 to $16.00 and set a “hold” rating on the stock in a research note on Tuesday, March 26th. Two research analysts have rated the stock with a sell rating and two have issued a hold rating to the stock. Based on data from MarketBeat, Leggett & Platt has a consensus rating of “Hold” and a consensus target price of $19.33.

Leggett & Platt Price Performance

NYSE:LEG opened at $18.33 on Tuesday. The stock has a market capitalization of $2.45 billion, a PE ratio of -18.33 and a beta of 1.17. The stock’s 50-day moving average price is $19.09 and its 200-day moving average price is $22.32. The company has a quick ratio of 0.84, a current ratio of 1.49 and a debt-to-equity ratio of 1.26. Leggett & Platt, Incorporated has a 52 week low of $17.19 and a 52 week high of $33.50.

Leggett & Platt (NYSE:LEG) last posted its quarterly 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 positive return on equity of 11.99% and a negative net margin of 2.90%. The business had revenue of $1.12 billion during the quarter, compared to analysts’ expectations of $1.11 billion. During the same period in the prior year, the business posted $0.39 earnings per share. The business’s quarterly revenue was down 6.7% on a year-over-year basis. As a group, equities analysts expect that Leggett & Platt, Incorporated will post 1.17 EPS for the current fiscal year.

Leggett & Platt Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Friday, March 15th were issued a $0.46 dividend. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $1.84 annualized dividend and a dividend yield of 10.04%. Leggett & Platt’s dividend payout ratio is presently -184.00%.

Leggett & Platt Company 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.