Industrial Alliance Investment Management Inc. Buys 547 Shares of Leggett & Platt, Incorporated (NYSE:LEG)

Posted by Defense World Staff on Aug 29th, 2023

Industrial Alliance Investment Management Inc. increased its stake in Leggett & Platt, Incorporated (NYSE:LEG – Free Report) by 36.9% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 2,028 shares of the company’s stock after purchasing an additional 547 shares during the quarter. Industrial Alliance Investment Management Inc.’s holdings in Leggett & Platt were worth $65,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of LEG. Trust Co. of Vermont bought a new stake in shares of Leggett & Platt in the 1st quarter worth approximately $51,000. Rockefeller Capital Management L.P. raised its holdings in Leggett & Platt by 179.6% during the 4th quarter. Rockefeller Capital Management L.P. now owns 2,024 shares of the company’s stock valued at $64,000 after acquiring an additional 1,300 shares during the period. Geneos Wealth Management Inc. raised 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 acquiring an additional 305 shares during the period. Covestor Ltd raised its holdings in Leggett & Platt by 86.5% during the 1st quarter. Covestor Ltd now owns 1,990 shares of the company’s stock valued at $69,000 after acquiring an additional 923 shares during the period. Finally, Ancora Advisors LLC raised 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 acquiring an additional 925 shares during the period. Institutional investors own 60.26% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the stock. StockNews.com assumed coverage on shares of Leggett & Platt in a report on Thursday, August 17th. They set a “hold” rating on the stock. Truist Financial lowered their target price on shares of Leggett & Platt from $35.00 to $31.00 and set a “hold” rating on the stock in a report on Wednesday, August 2nd. One research analyst has rated the stock with a sell rating and three have assigned a hold rating to the stock. According to MarketBeat.com, Leggett & Platt currently has a consensus rating of “Hold” and a consensus price target of $28.67.

Get Our Latest Stock Analysis on LEG

Leggett & Platt Stock Up 1.3 %

LEG opened at $28.01 on Tuesday. The company has a fifty day moving average price of $29.33 and a 200-day moving average price of $31.16. The firm has a market capitalization of $3.73 billion, a P/E ratio of 16.48 and a beta of 1.28. The company has a debt-to-equity ratio of 1.21, a current ratio of 1.99 and a quick ratio of 1.10. Leggett & Platt, Incorporated has a one year low of $27.22 and a one year high of $39.64.

Leggett & Platt (NYSE:LEG – Get Free Report) last released its quarterly earnings results on Monday, July 31st. The company reported $0.38 EPS for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.01). The firm had revenue of $1.22 billion for the quarter, compared to analysts’ expectations of $1.24 billion. Leggett & Platt had a net margin of 4.71% and a return on equity of 14.02%. The firm’s revenue for the quarter was down 8.5% on a year-over-year basis. During the same quarter last year, the firm earned $0.70 earnings per share. Equities research analysts expect that Leggett & Platt, Incorporated will post 1.52 earnings per share for the current fiscal year.

Leggett & Platt Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, October 13th. Investors of record on Friday, September 15th will be given a $0.46 dividend. The ex-dividend date of this dividend is Thursday, September 14th. This represents a $1.84 annualized dividend and a yield of 6.57%. Leggett & Platt’s dividend payout ratio (DPR) is presently 108.24%.

Leggett & Platt Company Profile

(Free Report)

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.