Sigma Planning Corp boosted its stake in shares of Leggett & Platt, Incorporated (NYSE:LEG – Free Report) by 23.9% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 16,122 shares of the company’s stock after buying an additional 3,107 shares during the quarter. Sigma Planning Corp’s holdings in Leggett & Platt were worth $514,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Industrial Alliance Investment Management Inc. bought a new stake in Leggett & Platt during the 4th quarter valued at about $48,000. Disciplined Investments LLC lifted its holdings in Leggett & Platt by 474.7% during the 4th quarter. Disciplined Investments LLC now owns 1,523 shares of the company’s stock valued at $49,000 after buying an additional 1,258 shares in the last quarter. Trust Co. of Vermont bought a new stake in Leggett & Platt during the 1st quarter valued at about $51,000. Ancora Advisors LLC lifted its holdings in Leggett & Platt by 119.4% during the 1st quarter. Ancora Advisors LLC now owns 1,700 shares of the company’s stock valued at $78,000 after buying an additional 925 shares in the last quarter. Finally, Geneos Wealth Management Inc. lifted its holdings in Leggett & Platt by 18.9% during the 1st quarter. Geneos Wealth Management Inc. now owns 1,915 shares of the company’s stock valued at $66,000 after buying an additional 305 shares in the last quarter. Institutional investors own 67.95% of the company’s stock.
Analysts Set New Price Targets
Several equities research analysts have recently commented on LEG shares. Truist Financial reduced their price target on shares of Leggett & Platt from $35.00 to $31.00 and set a “hold” rating for the company in a report on Wednesday, August 2nd. StockNews.com started coverage on shares of Leggett & Platt in a report on Thursday, May 18th. They issued a “hold” rating for the company. One research analyst has rated the stock with a sell rating and three have given a hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $28.67.
Insider Buying and Selling
In related news, Director Phoebe A. Wood sold 6,000 shares of the business’s stock in a transaction that occurred on Tuesday, May 23rd. The shares were sold at an average price of $32.61, for a total transaction of $195,660.00. Following the completion of the transaction, the director now owns 53,109 shares in the company, valued at approximately $1,731,884.49. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.57% of the stock is currently owned by company insiders.
Leggett & Platt Trading Down 1.0 %
NYSE:LEG opened at $28.94 on Friday. Leggett & Platt, Incorporated has a one year low of $28.26 and a one year high of $41.94. The company has a debt-to-equity ratio of 1.21, a quick ratio of 1.10 and a current ratio of 1.99. The firm has a market cap of $3.85 billion, a P/E ratio of 17.02 and a beta of 1.28. The firm has a 50-day simple moving average of $30.07 and a 200-day simple moving average of $31.78.
Leggett & Platt (NYSE:LEG – Get Free Report) last posted its quarterly earnings data on Monday, July 31st. The company reported $0.38 EPS for the quarter, missing the consensus estimate of $0.39 by ($0.01). The firm had revenue of $1.22 billion for the quarter, compared to the consensus estimate of $1.24 billion. Leggett & Platt had a return on equity of 14.02% and a net margin of 4.71%. The company’s revenue was down 8.5% compared to the same quarter last year. During the same quarter last year, the firm earned $0.70 EPS. Equities analysts anticipate that Leggett & Platt, Incorporated will post 1.54 EPS for the current fiscal year.
Leggett & Platt Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 13th. Investors of record on Friday, September 15th will be paid a dividend of $0.46 per share. The ex-dividend date of this dividend is Thursday, September 14th. This represents a $1.84 annualized dividend and a dividend yield of 6.36%. Leggett & Platt’s dividend payout ratio (DPR) is presently 108.24%.
Leggett & Platt Profile
Leggett & Platt, Incorporated designs, manufactures, and markets engineered components and products worldwide. It operates through three segments: Bedding Products; Specialized Products; and Furniture, Flooring & Textile Products. The company offers steel rods, drawn wires, foam chemicals and additives, innersprings, private label finished mattresses, wire forms for mattress foundations, adjustable beds, industrial sewing and quilting machines, and mattress packaging and glue drying equipment, as well as machines to produce innersprings for industrial users of steel rods and wires, manufacturers of finished bedding, big box and e-commerce retailers, bedding brands and mattress retailers, department stores, and home improvement centers.
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