Leggett & Platt, Incorporated (NYSE:LEG) Shares Purchased by Insight Folios Inc

Insight Folios Inc raised its stake in shares of Leggett & Platt, Incorporated (NYSE:LEG) by 14.1% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 10,693 shares of the company’s stock after purchasing an additional 1,319 shares during the period. Insight Folios Inc’s holdings in Leggett & Platt were worth $205,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of LEG. Norges Bank purchased a new stake in Leggett & Platt during the fourth quarter worth approximately $26,814,000. Pacer Advisors Inc. grew its stake in Leggett & Platt by 68.5% during the fourth quarter. Pacer Advisors Inc. now owns 1,934,905 shares of the company’s stock worth $50,636,000 after buying an additional 786,297 shares during the period. Dimensional Fund Advisors LP grew its stake in Leggett & Platt by 12.4% during the fourth quarter. Dimensional Fund Advisors LP now owns 2,373,959 shares of the company’s stock worth $62,127,000 after buying an additional 262,145 shares during the period. American Century Companies Inc. grew its stake in Leggett & Platt by 332.4% during the third quarter. American Century Companies Inc. now owns 233,806 shares of the company’s stock worth $5,941,000 after buying an additional 179,734 shares during the period. Finally, Janney Montgomery Scott LLC purchased a new stake in Leggett & Platt during the fourth quarter worth approximately $3,210,000. Institutional investors and hedge funds own 64.23% of the company’s stock.

Leggett & Platt Trading Down 0.2 %

LEG opened at $11.16 on Friday. The stock has a market capitalization of $1.50 billion, a PE ratio of -9.62 and a beta of 1.08. The firm’s fifty day moving average price is $12.21 and its 200 day moving average price is $18.32. The company has a debt-to-equity ratio of 1.37, a current ratio of 1.57 and a quick ratio of 0.89. Leggett & Platt, Incorporated has a 12-month low of $10.11 and a 12-month high of $31.14.

Leggett & Platt (NYSE:LEG) last posted its quarterly earnings results on Tuesday, April 30th. The company reported $0.23 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.24 by ($0.01). The company had revenue of $1.10 billion during the quarter, compared to analyst estimates of $1.11 billion. Leggett & Platt had a negative net margin of 3.44% and a positive return on equity of 11.31%. The company’s revenue was down 9.6% on a year-over-year basis. During the same period in the prior year, the company earned $0.39 earnings per share. As a group, research analysts expect that Leggett & Platt, Incorporated will post 1.13 EPS 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 issued a dividend of $0.05 per share. The ex-dividend date is Friday, June 14th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.79%. Leggett & Platt’s dividend payout ratio (DPR) is -17.24%.

Insiders Place Their Bets

In other Leggett & Platt news, EVP Ryan Michael Kleiboeker bought 10,000 shares of the company’s stock in a transaction on Thursday, May 2nd. The shares were bought at an average cost of $13.39 per share, with a total value of $133,900.00. Following the completion of the acquisition, the executive vice president now owns 41,535 shares of the company’s stock, valued at $556,153.65. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Leggett & Platt news, EVP Ryan Michael Kleiboeker bought 10,000 shares of the company’s stock in a transaction on Thursday, May 2nd. The shares were bought at an average cost of $13.39 per share, with a total value of $133,900.00. Following the completion of the acquisition, the executive vice president now owns 41,535 shares of the company’s stock, valued at $556,153.65. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Karl G. Glassman bought 23,800 shares of the company’s stock in a transaction on Friday, May 31st. The shares were acquired at an average cost of $11.48 per share, for a total transaction of $273,224.00. Following the completion of the acquisition, the chief executive officer now directly owns 1,151,891 shares of the company’s stock, valued at approximately $13,223,708.68. The disclosure for this purchase can be found here. Over the last three months, insiders have acquired 65,635 shares of company stock valued at $773,447. Company insiders own 1.92% of the company’s stock.

Analyst Ratings Changes

Several research firms have issued reports on LEG. TheStreet downgraded shares of Leggett & Platt from a “c” rating to a “d+” rating in a research note on Monday, March 11th. Piper Sandler decreased their target price on shares of Leggett & Platt from $16.00 to $13.00 and set an “underweight” rating for the company in a research note on Wednesday, May 1st. Truist Financial decreased their target price on shares of Leggett & Platt from $13.00 to $11.00 and set a “hold” rating for the company in a research note on Thursday, June 27th. StockNews.com upgraded shares of Leggett & Platt from a “sell” rating to a “hold” rating in a research note on Friday, June 28th. Finally, The Goldman Sachs Group decreased their target price on shares of Leggett & Platt from $20.00 to $14.00 and set a “neutral” rating for the company in a research note on Thursday, May 2nd. One analyst has rated the stock with a sell rating and three have assigned a hold rating to the company’s stock. Based on data from MarketBeat.com, Leggett & Platt presently has an average rating of “Hold” and a consensus price target of $12.67.

Leggett & Platt Profile

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.