Pacer Advisors Inc. Increases Position in Leggett & Platt, Incorporated (NYSE:LEG)

Pacer Advisors Inc. boosted its stake in shares of Leggett & Platt, Incorporated (NYSE:LEG) by 426.2% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 14,042,134 shares of the company’s stock after buying an additional 11,373,507 shares during the quarter. Pacer Advisors Inc. owned 10.48% of Leggett & Platt worth $160,923,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in LEG. Dimensional Fund Advisors LP grew its holdings in Leggett & Platt by 12.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,373,959 shares of the company’s stock valued at $62,127,000 after purchasing an additional 262,145 shares during the last quarter. Vanguard Group Inc. raised its position in Leggett & Platt by 0.4% during the fourth quarter. Vanguard Group Inc. now owns 12,996,067 shares of the company’s stock worth $340,107,000 after acquiring an additional 49,086 shares during the last quarter. Norges Bank acquired a new stake in shares of Leggett & Platt in the fourth quarter valued at approximately $26,814,000. State Board of Administration of Florida Retirement System increased its stake in shares of Leggett & Platt by 6.6% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 149,692 shares of the company’s stock worth $2,867,000 after purchasing an additional 9,254 shares in the last quarter. Finally, Pinebridge Investments L.P. acquired a new position in shares of Leggett & Platt during the 4th quarter worth approximately $448,000. 64.23% of the stock is owned by hedge funds and other institutional investors.

Leggett & Platt Trading Down 2.7 %

NYSE LEG opened at $13.18 on Friday. The company has a 50-day moving average of $12.57 and a 200-day moving average of $14.03. The company has a debt-to-equity ratio of 2.55, a current ratio of 1.53 and a quick ratio of 0.88. Leggett & Platt, Incorporated has a 12 month low of $10.11 and a 12 month high of $27.58. The company has a market cap of $1.77 billion, a P/E ratio of -11.36 and a beta of 1.07.

Leggett & Platt (NYSE:LEG) last issued its quarterly earnings results on Thursday, August 1st. The company reported $0.29 EPS for the quarter, hitting the consensus estimate of $0.29. The firm had revenue of $1.13 billion during the quarter, compared to analyst estimates of $1.13 billion. Leggett & Platt had a negative net margin of 18.05% and a positive return on equity of 12.65%. As a group, equities analysts predict that Leggett & Platt, Incorporated will post 1.14 earnings per share for the current year.

Leggett & Platt Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Friday, September 13th will be paid a $0.05 dividend. This represents a $0.20 annualized dividend and a dividend yield of 1.52%. The ex-dividend date is Friday, September 13th. Leggett & Platt’s dividend payout ratio is currently -17.24%.

Wall Street Analyst Weigh In

A number of analysts recently commented on LEG shares. StockNews.com raised Leggett & Platt from a “sell” rating to a “hold” rating in a research note on Wednesday, August 28th. Truist Financial raised their price target on shares of Leggett & Platt from $11.00 to $13.00 and gave the stock a “hold” rating in a research note on Monday, August 5th. Finally, The Goldman Sachs Group cut their price objective on shares of Leggett & Platt from $14.00 to $12.00 and set a “neutral” rating for the company in a research report on Wednesday, July 10th. One research analyst has rated the stock with a sell rating and three have given a hold rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $12.67.

Leggett & Platt Company 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.