Brokerages Set Leggett & Platt, Incorporated (NYSE:LEG) PT at $11.67

Shares of Leggett & Platt, Incorporated (NYSE:LEG) have been given an average recommendation of “Hold” by the five brokerages that are covering the stock, MarketBeat reports. Five research analysts have rated the stock with a hold rating. The average 1 year price objective among analysts that have updated their coverage on the stock in the last year is $11.6667.

A number of brokerages recently issued reports on LEG. Zacks Research downgraded Leggett & Platt from a “strong-buy” rating to a “hold” rating in a research report on Friday, December 5th. Wall Street Zen cut shares of Leggett & Platt from a “buy” rating to a “hold” rating in a research report on Saturday, February 21st. Piper Sandler boosted their price target on shares of Leggett & Platt from $10.00 to $12.00 and gave the company a “neutral” rating in a research note on Thursday, December 11th. Finally, Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Leggett & Platt in a research report on Monday, December 29th.

Institutional Investors Weigh In On Leggett & Platt

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

Leggett & Platt Stock Down 0.4%

LEG stock opened at $11.23 on Monday. Leggett & Platt has a one year low of $6.47 and a one year high of $13.00. The firm has a market cap of $1.53 billion, a PE ratio of 6.64 and a beta of 0.71. The firm’s 50 day moving average price is $11.88 and its 200-day moving average price is $10.44. The company has a debt-to-equity ratio of 1.46, a quick ratio of 1.45 and a current ratio of 2.25.

Leggett & Platt (NYSE:LEG) last posted its earnings results on Wednesday, February 11th. The company reported $0.22 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.22. Leggett & Platt had a return on equity of 15.00% and a net margin of 5.80%.The company had revenue of $938.60 million during the quarter, compared to analysts’ expectations of $938.74 million. During the same quarter last year, the firm earned $0.21 earnings per share. The firm’s quarterly revenue was down 11.2% compared to the same quarter last year. On average, equities research analysts anticipate that Leggett & Platt will post 1.14 EPS for the current year.

Leggett & Platt Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 15th. Shareholders of record on Friday, March 13th will be paid a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a yield of 1.8%. The ex-dividend date is Friday, March 13th. Leggett & Platt’s dividend payout ratio is 11.83%.

About Leggett & Platt

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.