Quantbot Technologies LP Buys New Position in Leggett & Platt, Incorporated $LEG

Quantbot Technologies LP bought a new stake in shares of Leggett & Platt, Incorporated (NYSE:LEG) in the 2nd quarter, HoldingsChannel reports. The firm bought 153,842 shares of the company’s stock, valued at approximately $1,801,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Elevation Wealth Partners LLC increased its holdings in shares of Leggett & Platt by 752.8% in the 2nd quarter. Elevation Wealth Partners LLC now owns 2,311 shares of the company’s stock worth $27,000 after buying an additional 2,040 shares during the last quarter. Palisade Asset Management LLC bought a new stake in shares of Leggett & Platt during the 3rd quarter worth $29,000. Motiv8 Investments LLC bought a new stake in shares of Leggett & Platt during the 4th quarter worth $34,000. Hantz Financial Services Inc. grew its position 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 in the last quarter. Finally, Advisory Services Network LLC purchased a new position in Leggett & Platt in the third quarter worth $51,000. Hedge funds and other institutional investors own 64.23% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the company. Weiss Ratings cut Leggett & Platt from a “hold (c)” rating to a “hold (c-)” rating in a research note on Wednesday, July 29th. Truist Financial cut their price objective on Leggett & Platt from $13.00 to $11.00 and set a “hold” rating for the company in a report on Friday, May 8th. Piper Sandler reduced their price objective on Leggett & Platt from $12.00 to $10.00 and set a “neutral” rating on the stock in a research report on Wednesday, August 12th. Finally, Zacks Research raised Leggett & Platt from a “hold” rating to a “strong-buy” rating in a report on Wednesday, August 19th. One analyst has rated the stock with a Strong Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $10.67.

Leggett & Platt Trading Down 0.1%

Shares of LEG stock opened at $9.40 on Tuesday. The business has a 50-day moving average of $10.60 and a 200 day moving average 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 1-year low of $8.34 and a 1-year high of $13.00. The stock has a market capitalization of $1.28 billion, a PE ratio of 6.03 and a beta of 0.73.

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

Leggett & Platt Announces Dividend

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

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.