Balefire LLC Takes Position in Leggett & Platt, Incorporated $LEG

Balefire LLC bought a new position in Leggett & Platt, Incorporated (NYSE:LEG) in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 73,481 shares of the company’s stock, valued at approximately $726,000. Balefire LLC owned 0.05% of Leggett & Platt as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of LEG. Palisade Asset Management LLC purchased a new position in Leggett & Platt during the 3rd quarter valued at about $29,000. Motiv8 Investments LLC purchased a new position in Leggett & Platt during the fourth quarter valued at approximately $34,000. Hantz Financial Services Inc. grew its position in Leggett & Platt by 32.0% during the fourth quarter. Hantz Financial Services Inc. now owns 3,231 shares of the company’s stock valued at $36,000 after purchasing an additional 783 shares in the last quarter. Advisory Services Network LLC acquired a new position in Leggett & Platt in the 3rd quarter valued at approximately $51,000. Finally, Kingdom Financial Group LLC. acquired a new position in Leggett & Platt in the 4th quarter valued at approximately $66,000. Hedge funds and other institutional investors own 64.23% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have issued reports on LEG. Truist Financial decreased their target price on shares of Leggett & Platt from $13.00 to $11.00 and set a “hold” rating for the company in a research note on Friday, May 8th. Weiss Ratings raised shares of Leggett & Platt from a “hold (c-)” rating to a “hold (c)” rating in a research note on Friday, May 15th. Finally, Zacks Research lowered Leggett & Platt from a “hold” rating to a “strong sell” rating in a report on Thursday, May 14th. Four investment analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Reduce” and an average price target of $11.33.

Leggett & Platt Stock Down 2.6%

Shares of Leggett & Platt stock opened at $10.74 on Tuesday. The stock has a market capitalization of $1.47 billion, a P/E ratio of 6.67 and a beta of 0.71. The company has a quick ratio of 1.45, a current ratio of 2.33 and a debt-to-equity ratio of 1.44. The stock has a 50 day moving average price of $10.60 and a two-hundred day moving average price of $11.01. Leggett & Platt, Incorporated has a 12-month low of $7.86 and a 12-month high of $13.00.

Leggett & Platt (NYSE:LEG) last released its quarterly earnings results on Thursday, May 7th. The company reported $0.15 EPS for the quarter, missing analysts’ consensus estimates of $0.26 by ($0.11). The firm had revenue of $918.20 million during the quarter, compared to the consensus estimate of $946.79 million. Leggett & Platt had a net margin of 5.69% and a return on equity of 12.62%. The company’s revenue for the quarter was down 10.2% compared to the same quarter last year. During the same period in the prior year, the business earned $0.24 EPS. Equities analysts expect that Leggett & Platt, Incorporated will post 0.9 earnings per share for the current year.

Leggett & Platt Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, July 15th. Shareholders of record on Monday, June 15th were issued a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a yield of 1.9%. The ex-dividend date was Monday, June 15th. Leggett & Platt’s dividend payout ratio is 12.42%.

Leggett & Platt Company Profile

Leggett & Platt, Inc is a diversified manufacturer specializing in the design, engineering and production of a wide range of engineered components and products. The company’s offerings span several end markets, including residential bedding, commercial and residential furniture, automotive seating and interiors, aerospace applications and industrial products. By integrating product design with proprietary manufacturing processes, Leggett & Platt serves as a key supplier to both original equipment manufacturers and aftermarket distributors.

The company’s core product lines include coil springs and support systems for mattresses and furniture, adjustable bed mechanisms, engineered components such as extruded and formed metal products, and specialty foam and bedding products.