Leggett & Platt, Incorporated $LEG Shares Bought by Quantinno Capital Management LP

Quantinno Capital Management LP grew its holdings in shares of Leggett & Platt, Incorporated (NYSE:LEG) by 22.7% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,023,884 shares of the company’s stock after purchasing an additional 559,868 shares during the period. Quantinno Capital Management LP owned approximately 2.22% of Leggett & Platt worth $29,876,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Motiv8 Investments LLC acquired a new stake in Leggett & Platt during the fourth quarter valued at approximately $34,000. Palisade Asset Management LLC acquired a new position in Leggett & Platt in the third quarter worth approximately $29,000. Hantz Financial Services Inc. increased its holdings in shares of Leggett & Platt by 32.0% in the fourth quarter. Hantz Financial Services Inc. now owns 3,231 shares of the company’s stock valued at $36,000 after buying an additional 783 shares in the last quarter. Advisory Services Network LLC bought a new position in shares of Leggett & Platt in the third quarter valued at $51,000. Finally, Kingdom Financial Group LLC. acquired a new stake in shares of Leggett & Platt during the 4th quarter valued at $66,000. Institutional investors and hedge funds own 64.23% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the company. Truist Financial reduced their price objective on Leggett & Platt from $13.00 to $11.00 and set a “hold” rating for the company in a research note on Friday, May 8th. Weiss Ratings downgraded Leggett & Platt from a “hold (c)” rating to a “hold (c-)” rating in a report on Wednesday. Finally, Zacks Research upgraded Leggett & Platt from a “strong sell” rating to a “hold” rating in a research report on Monday, July 20th. Five research analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $11.33.

Leggett & Platt Stock Down 2.2%

LEG stock opened at $9.80 on Friday. The company has a debt-to-equity ratio of 1.44, a current ratio of 2.33 and a quick ratio of 1.45. The firm has a market capitalization of $1.34 billion, a P/E ratio of 6.09 and a beta of 0.71. Leggett & Platt, Incorporated has a 52-week low of $7.86 and a 52-week high of $13.00. The company’s 50 day simple moving average is $10.78 and its 200-day simple moving average is $10.95.

Leggett & Platt (NYSE:LEG) last posted its quarterly earnings data on Thursday, May 7th. The company reported $0.15 EPS for the quarter, missing analysts’ consensus estimates of $0.26 by ($0.11). Leggett & Platt had a return on equity of 12.62% and a net margin of 5.69%.The firm had revenue of $918.20 million during the quarter, compared to analyst estimates of $946.79 million. During the same period in the prior year, the business posted $0.24 EPS. The company’s revenue for the quarter was down 10.2% on a year-over-year basis. As a group, equities research analysts anticipate that Leggett & Platt, Incorporated will post 0.9 EPS for the current year.

Leggett & Platt Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, August 24th. Stockholders of record on Monday, August 10th will be given a $0.05 dividend. This represents a $0.20 annualized dividend and a dividend yield of 2.0%. The ex-dividend date of this dividend is Monday, August 10th. Leggett & Platt’s dividend payout ratio (DPR) is 12.42%.

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.