Scientech Research LLC Purchases New Holdings in Leggett & Platt, Incorporated (NYSE:LEG)

Scientech Research LLC bought a new position in shares of Leggett & Platt, Incorporated (NYSE:LEG) during the second quarter, according to the company in its most recent disclosure with the SEC. The firm bought 56,702 shares of the company’s stock, valued at approximately $650,000.

A number of other large investors also recently bought and sold shares of the company. AQR Capital Management LLC lifted its holdings in Leggett & Platt by 1,098.0% during the 2nd quarter. AQR Capital Management LLC now owns 2,005,408 shares of the company’s stock worth $22,160,000 after buying an additional 1,838,009 shares during the last quarter. Bank of Montreal Can lifted its holdings in Leggett & Platt by 14.7% during the 2nd quarter. Bank of Montreal Can now owns 103,703 shares of the company’s stock worth $1,194,000 after buying an additional 13,280 shares during the last quarter. Public Sector Pension Investment Board bought a new position in Leggett & Platt during the 2nd quarter worth approximately $3,380,000. EverSource Wealth Advisors LLC lifted its holdings in Leggett & Platt by 343.8% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 4,371 shares of the company’s stock worth $50,000 after buying an additional 3,386 shares during the last quarter. Finally, Legacy Financial Advisors Inc. bought a new position in Leggett & Platt during the 2nd quarter worth approximately $197,000. Institutional investors own 64.23% of the company’s stock.

Leggett & Platt Stock Up 3.7 %

Shares of Leggett & Platt stock opened at $14.12 on Friday. Leggett & Platt, Incorporated has a twelve month low of $10.11 and a twelve month high of $27.58. The company has a current ratio of 1.53, a quick ratio of 0.88 and a debt-to-equity ratio of 2.55. The stock has a market capitalization of $1.89 billion, a price-to-earnings ratio of -12.17 and a beta of 1.07. The business’s 50 day simple moving average is $12.66 and its 200-day simple moving average is $13.74.

Leggett & Platt (NYSE:LEG) last posted its earnings results on Thursday, August 1st. The company reported $0.29 EPS for the quarter, meeting the consensus estimate of $0.29. Leggett & Platt had a positive return on equity of 12.65% and a negative net margin of 18.05%. The firm had revenue of $1.13 billion for the quarter, compared to analysts’ expectations of $1.13 billion. Equities research analysts forecast that Leggett & Platt, Incorporated will post 1.14 earnings per share for the current year.

Leggett & Platt Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Friday, September 13th will be given a $0.05 dividend. This represents a $0.20 annualized dividend and a yield of 1.42%. The ex-dividend date is Friday, September 13th. Leggett & Platt’s dividend payout ratio is currently -17.24%.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the company. StockNews.com raised Leggett & Platt from a “sell” rating to a “hold” rating in a report on Wednesday, August 28th. The Goldman Sachs Group dropped their price target on Leggett & Platt from $14.00 to $12.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 10th. Finally, Truist Financial increased their price target on Leggett & Platt from $11.00 to $13.00 and gave the stock a “hold” rating in a research report on Monday, August 5th. One research analyst has rated the stock with a sell rating and three have given a hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $12.67.

About Leggett & Platt

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.