Blueshift Asset Management LLC Purchases Shares of 16,241 Leggett & Platt, Incorporated (NYSE:LEG)

Blueshift Asset Management LLC purchased a new stake in Leggett & Platt, Incorporated (NYSE:LEG) during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 16,241 shares of the company’s stock, valued at approximately $128,000.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Sterling Capital Management LLC boosted its stake in Leggett & Platt by 17.1% in the fourth quarter. Sterling Capital Management LLC now owns 7,972 shares of the company’s stock worth $77,000 after purchasing an additional 1,163 shares in the last quarter. Coldstream Capital Management Inc. acquired a new position in Leggett & Platt in the fourth quarter worth $111,000. Captrust Financial Advisors boosted its stake in Leggett & Platt by 27.5% in the fourth quarter. Captrust Financial Advisors now owns 13,521 shares of the company’s stock worth $130,000 after purchasing an additional 2,915 shares in the last quarter. Janney Montgomery Scott LLC acquired a new position in Leggett & Platt in the first quarter worth $107,000. Finally, Susquehanna Fundamental Investments LLC acquired a new position in Leggett & Platt in the fourth quarter worth $131,000. Institutional investors and hedge funds own 64.23% of the company’s stock.

Leggett & Platt Trading Down 15.2%

Shares of LEG opened at $8.10 on Monday. The company has a quick ratio of 1.36, a current ratio of 2.17 and a debt-to-equity ratio of 2.09. Leggett & Platt, Incorporated has a 12-month low of $6.47 and a 12-month high of $14.23. The firm has a market capitalization of $1.09 billion, a PE ratio of 7.86 and a beta of 0.70. The stock’s fifty day simple moving average is $9.51 and its 200-day simple moving average is $9.09.

Leggett & Platt (NYSE:LEG) last issued its quarterly earnings results on Thursday, July 31st. The company reported $0.30 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.29 by $0.01. Leggett & Platt had a return on equity of 19.42% and a net margin of 3.36%. The business had revenue of $1.06 billion for the quarter, compared to analyst estimates of $1.06 billion. During the same quarter in the prior year, the firm posted $0.29 earnings per share. The firm’s revenue for the quarter was down 6.3% compared to the same quarter last year. As a group, research analysts predict that Leggett & Platt, Incorporated will post 1.14 earnings per share for the current year.

Leggett & Platt Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, July 15th. Stockholders of record on Friday, June 13th were paid a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a dividend yield of 2.5%. The ex-dividend date of this dividend was Friday, June 13th. Leggett & Platt’s dividend payout ratio is 19.42%.

Analyst Upgrades and Downgrades

A number of research firms have commented on LEG. Piper Sandler reissued a “neutral” rating and issued a $9.00 price objective (down previously from $12.00) on shares of Leggett & Platt in a research note on Friday, April 11th. Wall Street Zen lowered Leggett & Platt from a “buy” rating to a “hold” rating in a research note on Saturday. Finally, The Goldman Sachs Group boosted their price objective on Leggett & Platt from $8.00 to $9.00 and gave the stock a “neutral” rating in a research note on Wednesday, April 30th.

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.