Quarry LP Grows Stock Holdings in Leggett & Platt, Incorporated (NYSE:LEG)

Quarry LP boosted its holdings in Leggett & Platt, Incorporated (NYSE:LEG) by 582.3% in the second quarter, according to its most recent filing with the SEC. The institutional investor owned 9,737 shares of the company’s stock after buying an additional 8,310 shares during the period. Quarry LP’s holdings in Leggett & Platt were worth $112,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. TFO Wealth Partners LLC boosted its stake in shares of Leggett & Platt by 10,833.3% in the fourth quarter. TFO Wealth Partners LLC now owns 656 shares of the company’s stock worth $157,000 after acquiring an additional 650 shares during the period. Abich Financial Wealth Management LLC lifted its holdings in Leggett & Platt by 93.2% in the 1st quarter. Abich Financial Wealth Management LLC now owns 1,930 shares of the company’s stock worth $37,000 after purchasing an additional 931 shares in the last quarter. CVA Family Office LLC bought a new position in Leggett & Platt in the 2nd quarter worth approximately $36,000. Fifth Third Bancorp grew its holdings in Leggett & Platt by 367.8% during the 2nd quarter. Fifth Third Bancorp now owns 3,396 shares of the company’s stock valued at $39,000 after buying an additional 2,670 shares in the last quarter. Finally, EverSource Wealth Advisors LLC raised its position in shares of Leggett & Platt by 343.8% during the second quarter. EverSource Wealth Advisors LLC now owns 4,371 shares of the company’s stock valued at $50,000 after buying an additional 3,386 shares during the last quarter. 64.23% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on LEG. Truist Financial upped their target price on shares of Leggett & Platt from $11.00 to $13.00 and gave the stock a “hold” rating in a research report on Monday, August 5th. StockNews.com raised shares of Leggett & Platt from a “sell” rating to a “hold” rating in a report on Wednesday, August 28th. Finally, The Goldman Sachs Group reduced their target price on Leggett & Platt from $14.00 to $12.00 and set a “neutral” rating on the stock in a report on Wednesday, July 10th. One analyst has rated the stock with a sell rating and three have given a hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $12.67.

Leggett & Platt Trading Up 0.3 %

Shares of LEG opened at $13.67 on Wednesday. The stock has a market capitalization of $1.83 billion, a PE ratio of -11.78 and a beta of 1.07. The company’s fifty day moving average is $12.68 and its 200 day moving average is $13.67. The company has a debt-to-equity ratio of 2.55, a quick ratio of 0.88 and a current ratio of 1.53. Leggett & Platt, Incorporated has a fifty-two week low of $10.11 and a fifty-two week high of $27.58.

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

Leggett & Platt Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Friday, September 13th will be given a dividend of $0.05 per share. The ex-dividend date is Friday, September 13th. This represents a $0.20 dividend on an annualized basis and a yield of 1.46%. Leggett & Platt’s dividend payout ratio (DPR) is presently -17.24%.

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.