Leggett & Platt, Incorporated (NYSE:LEG) EVP Purchases $133,900.00 in Stock

Leggett & Platt, Incorporated (NYSE:LEG) EVP Ryan Michael Kleiboeker purchased 10,000 shares of the stock in a transaction on Thursday, May 2nd. The stock was acquired at an average cost of $13.39 per share, for a total transaction of $133,900.00. Following the acquisition, the executive vice president now owns 41,535 shares in the company, valued at $556,153.65. The acquisition was disclosed in a legal filing with the SEC, which is available at this link.

Leggett & Platt Stock Performance

NYSE LEG opened at $13.95 on Friday. The company has a 50-day simple moving average of $18.63 and a two-hundred day simple moving average of $22.06. Leggett & Platt, Incorporated has a 12-month low of $11.02 and a 12-month high of $33.11. The firm has a market cap of $1.87 billion, a price-to-earnings ratio of -12.03 and a beta of 1.19. The company has a quick ratio of 0.84, a current ratio of 1.57 and a debt-to-equity ratio of 1.37.

Leggett & Platt (NYSE:LEG) last released its earnings results on Tuesday, April 30th. The company reported $0.23 earnings per share for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.01). Leggett & Platt had a negative net margin of 3.44% and a positive return on equity of 11.31%. The company had revenue of $1.10 billion during the quarter, compared to the consensus estimate of $1.11 billion. During the same period last year, the firm posted $0.39 EPS. The company’s revenue was down 9.6% on a year-over-year basis. On average, equities analysts forecast that Leggett & Platt, Incorporated will post 1.15 EPS for the current year.

Leggett & Platt Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Friday, June 14th will be issued a $0.05 dividend. This represents a $0.20 annualized dividend and a dividend yield of 1.43%. The ex-dividend date is Friday, June 14th. Leggett & Platt’s dividend payout ratio is -158.62%.

Institutional Investors Weigh In On Leggett & Platt

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Ramirez Asset Management Inc. bought a new stake in Leggett & Platt in the 3rd quarter worth $25,000. Fifth Third Bancorp grew its stake in shares of Leggett & Platt by 253.3% in the fourth quarter. Fifth Third Bancorp now owns 1,007 shares of the company’s stock worth $26,000 after purchasing an additional 722 shares during the last quarter. GAMMA Investing LLC bought a new stake in shares of Leggett & Platt in the fourth quarter worth about $40,000. ORG Partners LLC purchased a new position in Leggett & Platt during the 4th quarter valued at about $49,000. Finally, Quadrant Capital Group LLC raised its position in Leggett & Platt by 56.2% during the 4th quarter. Quadrant Capital Group LLC now owns 2,130 shares of the company’s stock valued at $56,000 after purchasing an additional 766 shares during the last quarter. 64.23% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the stock. The Goldman Sachs Group lowered their target price on shares of Leggett & Platt from $20.00 to $14.00 and set a “neutral” rating on the stock in a research note on Thursday. Truist Financial lowered their price objective on shares of Leggett & Platt from $16.00 to $13.00 and set a “hold” rating on the stock in a research report on Friday. TheStreet lowered shares of Leggett & Platt from a “c” rating to a “d+” rating in a research report on Monday, March 11th. Piper Sandler lowered their price target on Leggett & Platt from $16.00 to $13.00 and set an “underweight” rating on the stock in a research report on Wednesday. Finally, StockNews.com cut Leggett & Platt from a “hold” rating to a “sell” rating in a report on Monday, March 11th. Two investment analysts have rated the stock with a sell rating and two have issued a hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $13.33.

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.