Leggett & Platt, Incorporated $LEG Shares Bought by Intech Investment Management LLC

Intech Investment Management LLC lifted its position in shares of Leggett & Platt, Incorporated (NYSE:LEG) by 600.3% in the third quarter, according to its most recent 13F filing with the SEC. The firm owned 399,971 shares of the company’s stock after purchasing an additional 342,858 shares during the quarter. Intech Investment Management LLC owned about 0.30% of Leggett & Platt worth $3,552,000 as of its most recent filing with the SEC.

Other large investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its stake in Leggett & Platt by 9.1% during the 3rd quarter. Vanguard Group Inc. now owns 18,707,102 shares of the company’s stock worth $166,119,000 after buying an additional 1,557,459 shares during the period. Norges Bank purchased a new position in shares of Leggett & Platt during the 2nd quarter valued at approximately $10,706,000. Geode Capital Management LLC boosted its stake in shares of Leggett & Platt by 47.8% during the 2nd quarter. Geode Capital Management LLC now owns 3,175,556 shares of the company’s stock valued at $28,330,000 after buying an additional 1,026,608 shares during the last quarter. Marshall Wace LLP grew its holdings in Leggett & Platt by 35.8% during the 2nd quarter. Marshall Wace LLP now owns 3,380,980 shares of the company’s stock worth $30,158,000 after acquiring an additional 890,577 shares in the last quarter. Finally, Quantinno Capital Management LP grew its stake in Leggett & Platt by 208.2% in the second quarter. Quantinno Capital Management LP now owns 1,143,164 shares of the company’s stock worth $10,197,000 after purchasing an additional 772,263 shares in the last quarter. 64.23% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms have recently commented on LEG. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Leggett & Platt in a report on Monday, December 29th. Zacks Research lowered shares of Leggett & Platt from a “strong-buy” rating to a “hold” rating in a research note on Friday, December 5th. Piper Sandler boosted their price target on shares of Leggett & Platt from $10.00 to $12.00 and gave the stock a “neutral” rating in a research report on Thursday, December 11th. Finally, Wall Street Zen cut Leggett & Platt from a “buy” rating to a “hold” rating in a report on Saturday, February 21st. Five equities research analysts have rated the stock with a Hold rating, According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $11.67.

Leggett & Platt Stock Down 1.3%

LEG stock opened at $11.67 on Monday. The firm has a market cap of $1.58 billion, a PE ratio of 6.91 and a beta of 0.71. Leggett & Platt, Incorporated has a 1 year low of $6.47 and a 1 year high of $13.00. The company has a fifty day simple moving average of $11.86 and a 200 day simple moving average of $10.40. The company has a current ratio of 2.25, a quick ratio of 1.45 and a debt-to-equity ratio of 1.46.

Leggett & Platt (NYSE:LEG) last posted its earnings results on Wednesday, February 11th. The company reported $0.22 earnings per share for the quarter, meeting 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 for the quarter, compared to analyst estimates of $938.74 million. During the same period last year, the company earned $0.21 earnings per share. The business’s revenue was down 11.2% compared to the same quarter last year. Sell-side analysts anticipate that Leggett & Platt, Incorporated will post 1.14 EPS for the current fiscal year.

Leggett & Platt Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 15th. Investors of record on Friday, March 13th will be paid a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a yield of 1.7%. The ex-dividend date is Friday, March 13th. Leggett & Platt’s dividend payout ratio is presently 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.