Intech Investment Management LLC Buys 342,858 Shares of Leggett & Platt, Incorporated $LEG

Intech Investment Management LLC boosted its position in shares of Leggett & Platt, Incorporated (NYSE:LEG) by 600.3% in the 3rd quarter, HoldingsChannel reports. The firm owned 399,971 shares of the company’s stock after buying an additional 342,858 shares during the period. Intech Investment Management LLC’s holdings in Leggett & Platt were worth $3,552,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Jones Financial Companies Lllp lifted its position in shares of Leggett & Platt by 8.4% during the first quarter. Jones Financial Companies Lllp now owns 14,661 shares of the company’s stock worth $116,000 after purchasing an additional 1,132 shares in the last quarter. Amalgamated Bank grew its position in shares of Leggett & Platt by 3.7% during the 3rd quarter. Amalgamated Bank now owns 39,752 shares of the company’s stock worth $353,000 after buying an additional 1,419 shares during the period. EP Wealth Advisors LLC increased its stake in Leggett & Platt by 5.8% in the second quarter. EP Wealth Advisors LLC now owns 34,859 shares of the company’s stock valued at $311,000 after purchasing an additional 1,912 shares in the last quarter. Penserra Capital Management LLC increased its position in shares of Leggett & Platt by 8.1% in the 2nd quarter. Penserra Capital Management LLC now owns 27,789 shares of the company’s stock valued at $247,000 after buying an additional 2,072 shares in the last quarter. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its holdings in shares of Leggett & Platt by 7.9% in the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 34,697 shares of the company’s stock worth $309,000 after acquiring an additional 2,534 shares in the last quarter. Institutional investors and hedge funds own 64.23% of the company’s stock.

Leggett & Platt Trading Down 1.3%

Shares of NYSE:LEG opened at $11.67 on Monday. The company’s 50-day moving average price is $11.86 and its two-hundred day moving average price is $10.40. The company has a debt-to-equity ratio of 1.46, a current ratio of 2.25 and a quick ratio of 1.45. Leggett & Platt, Incorporated has a one year low of $6.47 and a one year high of $13.00. The stock has a market capitalization of $1.58 billion, a PE ratio of 6.91 and a beta of 0.71.

Leggett & Platt (NYSE:LEG) last announced its quarterly earnings data 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 during the quarter, compared to analysts’ expectations of $938.74 million. During the same quarter last year, the company earned $0.21 EPS. Leggett & Platt’s revenue for the quarter was down 11.2% compared to the same quarter last year. On average, equities analysts forecast that Leggett & Platt, Incorporated will post 1.14 EPS for the current fiscal year.

Leggett & Platt Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 15th. Shareholders of record on Friday, March 13th will be given a dividend of $0.05 per share. The ex-dividend date of this dividend is Friday, March 13th. This represents a $0.20 annualized dividend and a dividend yield of 1.7%. Leggett & Platt’s payout ratio is 11.83%.

Analyst Ratings Changes

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

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.