Choreo LLC Invests $160,000 in Leggett & Platt, Incorporated (NYSE:LEG)

Choreo LLC acquired a new stake in Leggett & Platt, Incorporated (NYSE:LEG) during the second quarter, according to its most recent 13F filing with the SEC. The fund acquired 14,034 shares of the company’s stock, valued at approximately $160,000.

Several other institutional investors have also added to or reduced their stakes in the business. Norges Bank purchased a new position in shares of Leggett & Platt in the fourth quarter worth about $26,814,000. Dimensional Fund Advisors LP grew its stake in Leggett & Platt by 12.4% in the 4th quarter. Dimensional Fund Advisors LP now owns 2,373,959 shares of the company’s stock valued at $62,127,000 after buying an additional 262,145 shares in the last quarter. Invenomic Capital Management LP bought a new stake in Leggett & Platt during the 1st quarter valued at $4,203,000. Principal Financial Group Inc. lifted its position in shares of Leggett & Platt by 31.0% during the second quarter. Principal Financial Group Inc. now owns 658,117 shares of the company’s stock worth $7,542,000 after acquiring an additional 155,860 shares in the last quarter. Finally, Janney Montgomery Scott LLC purchased a new stake in shares of Leggett & Platt during the fourth quarter worth $3,210,000. 64.23% of the stock is owned by hedge funds and other institutional investors.

Leggett & Platt Price Performance

NYSE:LEG opened at $13.18 on Friday. Leggett & Platt, Incorporated has a 52-week low of $10.11 and a 52-week high of $27.58. The stock has a fifty 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 quick ratio of 0.88 and a current ratio of 1.53. The firm has a market capitalization of $1.77 billion, a price-to-earnings 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 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.29. Leggett & Platt had a positive return on equity of 12.65% and a negative net margin of 18.05%. The firm had revenue of $1.13 billion during the quarter, compared to the consensus estimate of $1.13 billion. On average, research analysts expect that Leggett & Platt, Incorporated will post 1.14 EPS for the current fiscal year.

Leggett & Platt Announces Dividend

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

Analyst Ratings Changes

LEG has been the subject of several recent research reports. Truist Financial lifted their price target on Leggett & Platt from $11.00 to $13.00 and gave the company a “hold” rating in a research report on Monday, August 5th. The Goldman Sachs Group decreased their price target on Leggett & Platt from $14.00 to $12.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 10th. Finally, StockNews.com upgraded shares of Leggett & Platt from a “sell” rating to a “hold” rating in a research report on Wednesday, August 28th. One research analyst has rated the stock with a sell rating and three have assigned a hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus 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.