Bleakley Financial Group LLC Raises Stock Holdings in Leggett & Platt, Incorporated (NYSE:LEG)

Bleakley Financial Group LLC increased its holdings in shares of Leggett & Platt, Incorporated (NYSE:LEG) by 8.1% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 33,352 shares of the company’s stock after acquiring an additional 2,501 shares during the quarter. Bleakley Financial Group LLC’s holdings in Leggett & Platt were worth $454,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. CVA Family Office LLC bought a new stake in shares of Leggett & Platt during the 2nd quarter worth $36,000. Abich Financial Wealth Management LLC raised its position in Leggett & Platt by 93.2% in the first quarter. Abich Financial Wealth Management LLC now owns 1,930 shares of the company’s stock worth $37,000 after acquiring an additional 931 shares during the period. Fifth Third Bancorp raised its position in Leggett & Platt by 367.8% in the second quarter. Fifth Third Bancorp now owns 3,396 shares of the company’s stock worth $39,000 after acquiring an additional 2,670 shares during the period. nVerses Capital LLC purchased a new position in Leggett & Platt in the third quarter valued at about $41,000. Finally, EverSource Wealth Advisors LLC grew its position in shares of Leggett & Platt by 343.8% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 4,371 shares of the company’s stock valued at $50,000 after acquiring an additional 3,386 shares during the period. Hedge funds and other institutional investors own 64.23% of the company’s stock.

Leggett & Platt Stock Down 5.5 %

LEG opened at $12.34 on Wednesday. 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 $1.65 billion, a PE ratio of -10.64 and a beta of 1.07. The company has a current ratio of 1.53, a quick ratio of 0.88 and a debt-to-equity ratio of 2.55. The company has a 50 day moving average of $12.80 and a 200 day moving average of $13.04.

Leggett & Platt (NYSE:LEG) last posted its quarterly earnings results on Thursday, August 1st. The company reported $0.29 EPS for the quarter, hitting 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 analyst estimates of $1.13 billion. On average, sell-side analysts expect that Leggett & Platt, Incorporated will post 1.14 EPS for the current year.

Leggett & Platt Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Friday, September 13th were given a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a dividend yield of 1.62%. The ex-dividend date was Friday, September 13th. Leggett & Platt’s dividend payout ratio is presently -17.24%.

Analyst Upgrades and Downgrades

Several research firms recently commented on LEG. The Goldman Sachs Group dropped their price objective on Leggett & Platt from $14.00 to $12.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 10th. Truist Financial upped 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. Finally, StockNews.com upgraded Leggett & Platt from a “sell” rating to a “hold” rating in a research note on Wednesday, August 28th. One investment analyst has rated the stock with a sell rating and three have issued a hold rating to the company’s stock. According to MarketBeat.com, the company has a consensus 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.