Leggett & Platt, Incorporated (NYSE:LEG) Shares Purchased by Vanguard Group Inc.

Vanguard Group Inc. increased its holdings in Leggett & Platt, Incorporated (NYSE:LEG) by 0.4% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 12,996,067 shares of the company’s stock after buying an additional 49,086 shares during the quarter. Vanguard Group Inc. owned about 9.72% of Leggett & Platt worth $340,107,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of LEG. Speece Thorson Capital Group Inc. raised its holdings in shares of Leggett & Platt by 0.3% during the fourth quarter. Speece Thorson Capital Group Inc. now owns 805,751 shares of the company’s stock worth $21,087,000 after purchasing an additional 2,674 shares during the last quarter. Comerica Bank raised its stake in shares of Leggett & Platt by 8.1% during the 4th quarter. Comerica Bank now owns 67,335 shares of the company’s stock valued at $1,762,000 after buying an additional 5,035 shares during the last quarter. Point72 Europe London LLP acquired a new position in shares of Leggett & Platt in the 4th quarter valued at about $947,000. Dean Capital Management purchased a new stake in shares of Leggett & Platt in the fourth quarter worth about $1,100,000. Finally, Quadrature Capital Ltd grew its holdings in Leggett & Platt by 32.0% during the fourth quarter. Quadrature Capital Ltd now owns 49,792 shares of the company’s stock worth $1,303,000 after acquiring an additional 12,064 shares during the period. 64.23% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Leggett & Platt

In other Leggett & Platt news, CFO Benjamin Michael Burns purchased 3,850 shares of the stock in a transaction that occurred on Thursday, June 6th. The shares were purchased at an average cost of $12.20 per share, for a total transaction of $46,970.00. Following the completion of the transaction, the chief financial officer now owns 81,362 shares of the company’s stock, valued at approximately $992,616.40. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, CFO Benjamin Michael Burns acquired 3,850 shares of the stock in a transaction on Thursday, June 6th. The shares were bought at an average price of $12.20 per share, with a total value of $46,970.00. Following the completion of the purchase, the chief financial officer now owns 81,362 shares of the company’s stock, valued at approximately $992,616.40. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Srikanth Padmanabhan bought 10,000 shares of the company’s stock in a transaction on Wednesday, June 5th. The stock was bought at an average price of $12.06 per share, with a total value of $120,600.00. Following the completion of the acquisition, the director now owns 38,623 shares in the company, valued at $465,793.38. The disclosure for this purchase can be found here. Insiders acquired 65,635 shares of company stock valued at $773,447 over the last 90 days. 1.57% of the stock is currently owned by corporate insiders.

Leggett & Platt Stock Performance

LEG opened at $11.46 on Friday. The firm’s fifty day simple moving average is $12.77 and its two-hundred day simple moving average is $18.74. Leggett & Platt, Incorporated has a 52-week low of $10.11 and a 52-week high of $31.14. The company has a market cap of $1.54 billion, a price-to-earnings ratio of -9.88 and a beta of 1.10. The company has a quick ratio of 0.89, a current ratio of 1.57 and a debt-to-equity ratio of 1.37.

Leggett & Platt (NYSE:LEG) last issued its quarterly earnings results on Tuesday, April 30th. The company reported $0.23 earnings per share for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.01). Leggett & Platt had a negative net margin of 3.44% and a positive return on equity of 11.31%. The company had revenue of $1.10 billion during the quarter, compared to analysts’ expectations of $1.11 billion. During the same period in the prior year, the business posted $0.39 earnings per share. The company’s quarterly revenue was down 9.6% compared to the same quarter last year. Equities analysts anticipate that Leggett & Platt, Incorporated will post 1.13 earnings per share for the current fiscal year.

Leggett & Platt Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Friday, June 14th will be paid a dividend of $0.05 per share. The ex-dividend date is Friday, June 14th. This represents a $0.20 annualized dividend and a yield of 1.75%. Leggett & Platt’s dividend payout ratio (DPR) is presently -17.24%.

Analyst Upgrades and Downgrades

LEG has been the subject of a number of analyst reports. Truist Financial decreased their price target on Leggett & Platt from $13.00 to $11.00 and set a “hold” rating for the company in a report on Thursday. StockNews.com upgraded shares of Leggett & Platt from a “sell” rating to a “hold” rating in a research report on Friday. Piper Sandler decreased their price objective on shares of Leggett & Platt from $16.00 to $13.00 and set an “underweight” rating for the company in a research report on Wednesday, May 1st. TheStreet cut Leggett & Platt from a “c” rating to a “d+” rating in a research report on Monday, March 11th. Finally, The Goldman Sachs Group reduced their price target on Leggett & Platt from $20.00 to $14.00 and set a “neutral” rating for the company in a report on Thursday, May 2nd. One equities research analyst has rated the stock with a sell rating and three have assigned a hold rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $12.67.

About Leggett & Platt

Leggett & Platt, Incorporated designs, manufactures, and sells engineered components and products in the United States, Europe, China, Canada, Mexico, and internationally. It operates through three segments: Bedding Products; Specialized Products; and Furniture, Flooring & Textile Products. The company offers steel rods, drawn wires, specialty foam chemicals and additives, innersprings, specialty foam for use in bedding and furniture, private label finished mattresses, ready-to-assemble mattress foundations, static foundations, and adjustable beds, as well as machines for producing innersprings; industrial sewing and quilting machines; mattress-packaging; and glue-drying equipment for various industrial users of steel rod and wire, manufacturers of finished bedding, bedding brands and mattress retailers, E-commerce retailers, big box retailers, department stores, and home improvement centers.