Cambridge Investment Research Advisors Inc. Acquires 8,260 Shares of Leggett & Platt, Incorporated (NYSE:LEG)

Cambridge Investment Research Advisors Inc. raised its holdings in Leggett & Platt, Incorporated (NYSE:LEG) by 16.7% during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 57,580 shares of the company’s stock after acquiring an additional 8,260 shares during the quarter. Cambridge Investment Research Advisors Inc.’s holdings in Leggett & Platt were worth $455,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently bought and sold shares of the company. Sterling Capital Management LLC grew its position in shares of Leggett & Platt by 17.1% during the 4th quarter. Sterling Capital Management LLC now owns 7,972 shares of the company’s stock worth $77,000 after buying an additional 1,163 shares in the last quarter. HighTower Advisors LLC bought a new position in shares of Leggett & Platt during the 4th quarter worth $97,000. Coldstream Capital Management Inc. bought a new position in shares of Leggett & Platt during the 4th quarter worth $111,000. Captrust Financial Advisors grew its position in shares of Leggett & Platt by 27.5% during the 4th quarter. Captrust Financial Advisors now owns 13,521 shares of the company’s stock worth $130,000 after buying an additional 2,915 shares in the last quarter. Finally, Jones Financial Companies Lllp grew its position in shares of Leggett & Platt by 29.3% during the 4th quarter. Jones Financial Companies Lllp now owns 13,529 shares of the company’s stock worth $130,000 after buying an additional 3,069 shares in the last quarter. Institutional investors own 64.23% of the company’s stock.

Leggett & Platt Trading Up 2.5%

Shares of NYSE LEG opened at $10.34 on Friday. The company has a debt-to-equity ratio of 2.59, a current ratio of 2.20 and a quick ratio of 1.36. The stock has a market capitalization of $1.40 billion, a P/E ratio of -2.76 and a beta of 0.74. Leggett & Platt, Incorporated has a 1-year low of $6.48 and a 1-year high of $14.24. The business has a fifty day moving average price of $9.30 and a 200 day moving average price of $9.09.

Leggett & Platt (NYSE:LEG) last released its quarterly earnings results on Monday, April 28th. The company reported $0.24 EPS for the quarter, beating analysts’ consensus estimates of $0.23 by $0.01. Leggett & Platt had a positive return on equity of 20.46% and a negative net margin of 11.89%. The company had revenue of $1.02 billion during the quarter, compared to analysts’ expectations of $1.02 billion. During the same period last year, the business posted $0.23 earnings per share. The firm’s revenue was down 6.8% compared to the same quarter last year. Equities research analysts expect that Leggett & Platt, Incorporated will post 1.14 EPS for the current fiscal year.

Leggett & Platt Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Friday, June 13th will be paid a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a yield of 1.94%. The ex-dividend date of this dividend is Friday, June 13th. Leggett & Platt’s dividend payout ratio (DPR) is presently -5.35%.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the company. The Goldman Sachs Group increased their price target on Leggett & Platt from $8.00 to $9.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 30th. Wall Street Zen upgraded Leggett & Platt from a “hold” rating to a “buy” rating in a research note on Saturday, July 5th. Finally, Piper Sandler restated a “neutral” rating and set a $9.00 price objective (down from $12.00) on shares of Leggett & Platt in a research note on Friday, April 11th.

About Leggett & Platt

Leggett & Platt, Inc engages in the manufacture and distribution of furniture and engineered components and products among homes, offices, automobiles, and commercial aircraft. It operates through the following segments: Bedding Products, Specialized Products, and Furniture, Flooring & Textile Products.