Stifel Financial Corp Raises Stock Position in Leggett & Platt, Incorporated (NYSE:LEG)

Stifel Financial Corp grew its stake in shares of Leggett & Platt, Incorporated (NYSE:LEG) by 3.9% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 84,996 shares of the company’s stock after acquiring an additional 3,202 shares during the period. Stifel Financial Corp owned about 0.06% of Leggett & Platt worth $1,158,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the company. Arizona State Retirement System raised its holdings in Leggett & Platt by 2.2% during the second quarter. Arizona State Retirement System now owns 37,438 shares of the company’s stock worth $429,000 after purchasing an additional 799 shares during the last quarter. Allspring Global Investments Holdings LLC increased its position in shares of Leggett & Platt by 76.3% in the third quarter. Allspring Global Investments Holdings LLC now owns 2,043 shares of the company’s stock valued at $28,000 after buying an additional 884 shares in the last quarter. Applied Capital LLC FL raised its stake in shares of Leggett & Platt by 5.4% during the 3rd quarter. Applied Capital LLC FL now owns 25,987 shares of the company’s stock worth $354,000 after buying an additional 1,327 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Leggett & Platt in the 3rd quarter worth about $29,000. Finally, Bleakley Financial Group LLC grew its stake in Leggett & Platt by 8.1% in the 3rd quarter. Bleakley Financial Group LLC now owns 33,352 shares of the company’s stock valued at $454,000 after acquiring an additional 2,501 shares during the last quarter. Hedge funds and other institutional investors own 64.23% of the company’s stock.

Leggett & Platt Trading Down 1.3 %

Leggett & Platt stock opened at $9.69 on Monday. The stock has a 50-day moving average price of $12.05 and a 200 day moving average price of $12.26. Leggett & Platt, Incorporated has a 52 week low of $9.64 and a 52 week high of $26.91. The stock has a market cap of $1.30 billion, a PE ratio of -1.61 and a beta of 1.07. The company has a current ratio of 1.48, a quick ratio of 0.84 and a debt-to-equity ratio of 2.13.

Leggett & Platt (NYSE:LEG) last released its quarterly earnings results on Monday, October 28th. The company reported $0.32 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.33 by ($0.01). The firm had revenue of $1.10 billion for the quarter, compared to analyst estimates of $1.10 billion. Leggett & Platt had a positive return on equity of 14.99% and a negative net margin of 18.53%. Leggett & Platt’s revenue for the quarter was down 6.3% on a year-over-year basis. During the same period in the prior year, the business earned $0.36 earnings per share. Equities research analysts predict that Leggett & Platt, Incorporated will post 1.05 earnings per share for the current fiscal year.

Leggett & Platt Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Friday, December 13th will be issued a $0.05 dividend. The ex-dividend date of this dividend is Friday, December 13th. This represents a $0.20 annualized dividend and a yield of 2.06%. Leggett & Platt’s dividend payout ratio (DPR) is presently -3.33%.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on LEG. StockNews.com upgraded shares of Leggett & Platt from a “sell” rating to a “hold” rating in a research report on Wednesday, August 28th. Piper Sandler upgraded Leggett & Platt from an “underweight” rating to a “neutral” rating and lifted their price objective for the stock from $11.00 to $13.00 in a research report on Wednesday, October 30th. Four analysts have rated the stock with a hold rating, According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average 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.