Leggett & Platt, Incorporated $LEG Stock Holdings Decreased by Seven Six Capital Management LLC

Seven Six Capital Management LLC decreased its holdings in Leggett & Platt, Incorporated (NYSE:LEG) by 23.1% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 456,501 shares of the company’s stock after selling 137,500 shares during the period. Leggett & Platt comprises approximately 4.8% of Seven Six Capital Management LLC’s holdings, making the stock its 9th largest holding. Seven Six Capital Management LLC’s holdings in Leggett & Platt were worth $4,510,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in LEG. Motiv8 Investments LLC purchased a new position in shares of Leggett & Platt during the fourth quarter worth approximately $34,000. Palisade Asset Management LLC bought a new stake in shares of Leggett & Platt in the third quarter valued at about $29,000. Hantz Financial Services Inc. lifted its stake in Leggett & Platt by 32.0% in the fourth quarter. Hantz Financial Services Inc. now owns 3,231 shares of the company’s stock worth $36,000 after acquiring an additional 783 shares during the period. Advisory Services Network LLC bought a new position in Leggett & Platt during the 3rd quarter worth about $51,000. Finally, Kingdom Financial Group LLC. purchased a new position in Leggett & Platt during the 4th quarter valued at about $66,000. Institutional investors own 64.23% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on LEG. Zacks Research upgraded shares of Leggett & Platt from a “strong sell” rating to a “hold” rating in a research note on Monday, July 20th. Weiss Ratings raised Leggett & Platt from a “hold (c-)” rating to a “hold (c)” rating in a research report on Friday, May 15th. Finally, Truist Financial reduced their price target on Leggett & Platt from $13.00 to $11.00 and set a “hold” rating for the company in a research report on Friday, May 8th. Five research analysts have rated the stock with a Hold rating, According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $11.33.

Leggett & Platt Price Performance

NYSE LEG opened at $10.28 on Thursday. The firm’s fifty day simple moving average is $10.79 and its two-hundred day simple moving average is $10.98. The firm has a market capitalization of $1.40 billion, a P/E ratio of 6.38 and a beta of 0.71. The company has a current ratio of 2.33, a quick ratio of 1.45 and a debt-to-equity ratio of 1.44. Leggett & Platt, Incorporated has a 12-month low of $7.86 and a 12-month high of $13.00.

Leggett & Platt (NYSE:LEG) last posted its quarterly earnings data on Thursday, May 7th. The company reported $0.15 earnings per share 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 business had revenue of $918.20 million during the quarter, compared to analyst estimates of $946.79 million. During the same period in the previous year, the business earned $0.24 EPS. The firm’s revenue for the quarter was down 10.2% compared to the same quarter last year. Analysts forecast that Leggett & Platt, Incorporated will post 0.9 EPS for the current fiscal year.

Leggett & Platt Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, July 15th. Investors of record on Monday, June 15th were paid a $0.05 dividend. The ex-dividend date was Monday, June 15th. This represents a $0.20 dividend on an annualized basis and a yield of 1.9%. Leggett & Platt’s dividend payout ratio (DPR) is 12.42%.

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.