153,842 Shares in Leggett & Platt, Incorporated $LEG Acquired by Quantbot Technologies LP

Quantbot Technologies LP acquired a new stake in Leggett & Platt, Incorporated (NYSE:LEG) during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 153,842 shares of the company’s stock, valued at approximately $1,801,000. Quantbot Technologies LP owned about 0.11% of Leggett & Platt at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of LEG. BlackRock Inc. bought a new stake in shares of Leggett & Platt in the second quarter valued at $265,194,000. Bank of New York Mellon Corp bought a new position in shares of Leggett & Platt during the 2nd quarter worth $15,511,000. Lazard Asset Management LLC bought a new position in shares of Leggett & Platt during the 4th quarter worth $11,297,000. Towle & Co. purchased a new stake in Leggett & Platt in the 4th quarter worth about $10,484,000. Finally, Forest Avenue Capital Management LP increased its holdings in Leggett & Platt by 208.4% in the 4th quarter. Forest Avenue Capital Management LP now owns 1,233,534 shares of the company’s stock worth $13,569,000 after acquiring an additional 833,534 shares during the last quarter. 64.23% of the stock is owned by institutional investors.

Analysts Set New Price Targets

LEG has been the topic of several recent research reports. Truist Financial dropped their price objective on shares of Leggett & Platt from $13.00 to $11.00 and set a “hold” rating on the stock in a report on Friday, May 8th. Zacks Research upgraded shares of Leggett & Platt from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, August 19th. Piper Sandler reduced their target price on shares of Leggett & Platt from $12.00 to $10.00 and set a “neutral” rating for the company in a research note on Wednesday, August 12th. Finally, Weiss Ratings lowered shares of Leggett & Platt from a “hold (c)” rating to a “hold (c-)” rating in a research report on Wednesday, July 29th. One analyst has rated the stock with a Strong Buy rating and four have given a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $10.67.

Leggett & Platt Stock Down 0.1%

Shares of NYSE:LEG opened at $9.40 on Tuesday. The firm has a fifty day moving average price of $10.60 and a two-hundred day moving average price of $10.66. The company has a debt-to-equity ratio of 1.38, a current ratio of 2.35 and a quick ratio of 1.53. Leggett & Platt, Incorporated has a one year low of $8.34 and a one year high of $13.00. The company has a market cap of $1.28 billion, a price-to-earnings ratio of 6.03 and a beta of 0.73.

Leggett & Platt (NYSE:LEG) last released its quarterly earnings results on Thursday, August 6th. The company reported $0.39 EPS for the quarter, beating analysts’ consensus estimates of $0.26 by $0.13. Leggett & Platt had a net margin of 5.64% and a return on equity of 13.31%. The firm had revenue of $999.70 million during the quarter, compared to analyst estimates of $982.86 million. During the same period in the previous year, the business earned $0.30 EPS. The business’s revenue for the quarter was down 5.5% on a year-over-year basis. Analysts anticipate that Leggett & Platt, Incorporated will post 1.05 EPS for the current fiscal year.

Leggett & Platt Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, August 24th. Investors of record on Monday, August 10th were given a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a yield of 2.1%. The ex-dividend date was Monday, August 10th. Leggett & Platt’s payout ratio is presently 12.82%.

Leggett & Platt 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.