SG Americas Securities LLC Purchases 317,861 Shares of Leggett & Platt, Incorporated $LEG

SG Americas Securities LLC grew its position in shares of Leggett & Platt, Incorporated (NYSE:LEG) by 602.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 370,643 shares of the company’s stock after buying an additional 317,861 shares during the period. SG Americas Securities LLC owned 0.27% of Leggett & Platt worth $4,077,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Jones Financial Companies Lllp raised its stake in Leggett & Platt by 8.4% in the 1st quarter. Jones Financial Companies Lllp now owns 14,661 shares of the company’s stock valued at $116,000 after acquiring an additional 1,132 shares during the period. Amalgamated Bank boosted its position in Leggett & Platt by 3.7% during the third quarter. Amalgamated Bank now owns 39,752 shares of the company’s stock worth $353,000 after purchasing an additional 1,419 shares during the period. EP Wealth Advisors LLC increased its stake in shares of Leggett & Platt by 5.8% in the second quarter. EP Wealth Advisors LLC now owns 34,859 shares of the company’s stock worth $311,000 after purchasing an additional 1,912 shares in the last quarter. Bayesian Capital Management LP increased its stake in shares of Leggett & Platt by 13.4% in the second quarter. Bayesian Capital Management LP now owns 22,866 shares of the company’s stock worth $204,000 after purchasing an additional 2,700 shares in the last quarter. Finally, New York State Common Retirement Fund raised its position in shares of Leggett & Platt by 8.4% in the third quarter. New York State Common Retirement Fund now owns 37,099 shares of the company’s stock valued at $329,000 after purchasing an additional 2,872 shares during the period. Institutional investors own 64.23% of the company’s stock.

Analyst Ratings Changes

LEG has been the topic of a number of recent research reports. Piper Sandler upped their price target on shares of Leggett & Platt from $10.00 to $12.00 and gave the company a “neutral” rating in a research note on Thursday, December 11th. Weiss Ratings cut shares of Leggett & Platt from a “hold (c-)” rating to a “sell (d+)” rating in a report on Monday, March 16th. Wall Street Zen downgraded Leggett & Platt from a “buy” rating to a “hold” rating in a research report on Saturday, February 21st. Finally, Zacks Research lowered Leggett & Platt from a “strong-buy” rating to a “hold” rating in a report on Friday, December 5th. Four investment analysts have rated the stock with a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Leggett & Platt presently has an average rating of “Reduce” and a consensus price target of $11.67.

Leggett & Platt Stock Performance

Shares of LEG opened at $9.71 on Friday. The company has a market cap of $1.32 billion, a PE ratio of 5.74 and a beta of 0.74. The company has a current ratio of 2.25, a quick ratio of 1.45 and a debt-to-equity ratio of 1.46. The stock has a 50-day moving average price of $11.18 and a 200-day moving average price of $10.50. Leggett & Platt, Incorporated has a 12-month low of $6.47 and a 12-month high of $13.00.

Leggett & Platt (NYSE:LEG) last posted its quarterly earnings data on Wednesday, February 11th. The company reported $0.22 earnings per share for the quarter, hitting the consensus estimate of $0.22. The company had revenue of $938.60 million for the quarter, compared to analysts’ expectations of $938.74 million. Leggett & Platt had a net margin of 5.80% and a return on equity of 15.00%. Leggett & Platt’s revenue for the quarter was down 11.2% compared to the same quarter last year. During the same period in the prior year, the business earned $0.21 earnings per share. As a group, equities analysts forecast that Leggett & Platt, Incorporated will post 1.14 earnings per share 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. Stockholders of record on Friday, March 13th will be issued a $0.05 dividend. The ex-dividend date of this dividend is Friday, March 13th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 2.1%. Leggett & Platt’s dividend payout ratio is presently 11.83%.

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.