Legacy Financial Advisors Inc. Takes $197,000 Position in Leggett & Platt, Incorporated (NYSE:LEG)

Legacy Financial Advisors Inc. bought a new position in Leggett & Platt, Incorporated (NYSE:LEG) during the second quarter, according to its most recent disclosure with the SEC. The firm bought 17,153 shares of the company’s stock, valued at approximately $197,000.

Several other institutional investors and hedge funds also recently bought and sold shares of LEG. Thrivent Financial for Lutherans raised its stake in shares of Leggett & Platt by 99.6% in the second quarter. Thrivent Financial for Lutherans now owns 152,469 shares of the company’s stock worth $1,747,000 after buying an additional 76,081 shares during the period. Sei Investments Co. increased its holdings in Leggett & Platt by 68.8% in the 2nd quarter. Sei Investments Co. now owns 32,833 shares of the company’s stock worth $376,000 after acquiring an additional 13,386 shares in the last quarter. Pacer Advisors Inc. increased its holdings in Leggett & Platt by 426.2% in the 2nd quarter. Pacer Advisors Inc. now owns 14,042,134 shares of the company’s stock worth $160,923,000 after acquiring an additional 11,373,507 shares in the last quarter. Bridges Investment Management Inc. raised its stake in Leggett & Platt by 13.3% during the 2nd quarter. Bridges Investment Management Inc. now owns 27,760 shares of the company’s stock worth $318,000 after acquiring an additional 3,260 shares during the period. Finally, Canada Pension Plan Investment Board purchased a new position in Leggett & Platt during the second quarter valued at approximately $995,000. 64.23% of the stock is currently owned by hedge funds and other institutional investors.

Leggett & Platt Price Performance

Shares of NYSE:LEG opened at $13.18 on Monday. The company has a debt-to-equity ratio of 2.55, a quick ratio of 0.88 and a current ratio of 1.53. The firm has a market cap of $1.77 billion, a price-to-earnings ratio of -11.36 and a beta of 1.07. The firm has a fifty day moving average price of $12.57 and a 200 day moving average price of $13.93. Leggett & Platt, Incorporated has a fifty-two week low of $10.11 and a fifty-two week high of $27.58.

Leggett & Platt (NYSE:LEG) last issued its quarterly earnings data on Thursday, August 1st. The company reported $0.29 earnings per share for the quarter, meeting analysts’ consensus estimates 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 positive return on equity of 12.65% and a negative net margin of 18.05%. As a group, sell-side analysts expect that Leggett & Platt, Incorporated will post 1.14 earnings per share for the current fiscal year.

Leggett & Platt Announces Dividend

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 issued a dividend of $0.05 per share. The ex-dividend date is Friday, September 13th. This represents a $0.20 annualized dividend and a dividend yield of 1.52%. Leggett & Platt’s dividend payout ratio (DPR) is -17.24%.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the stock. The Goldman Sachs Group reduced 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 note on Wednesday, July 10th. Truist Financial raised their price target on Leggett & Platt from $11.00 to $13.00 and gave the company a “hold” rating in a report on Monday, August 5th. Finally, StockNews.com raised Leggett & Platt from a “sell” rating to a “hold” rating in a research note on Wednesday, August 28th. One research analyst has rated the stock with a sell rating and three have issued a hold rating to the company’s stock. According to data from MarketBeat, Leggett & Platt presently has an average rating of “Hold” and an average price target 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.