Dean Capital Management Purchases 62,894 Shares of Leggett & Platt, Incorporated $LEG

Dean Capital Management raised its position in Leggett & Platt, Incorporated (NYSE:LEG) by 131.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 110,585 shares of the company’s stock after acquiring an additional 62,894 shares during the quarter. Dean Capital Management owned approximately 0.08% of Leggett & Platt worth $1,216,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of LEG. Palisade Asset Management LLC bought a new stake in shares of Leggett & Platt in the 3rd quarter valued at about $29,000. Motiv8 Investments LLC bought a new position in Leggett & Platt during the fourth quarter worth about $34,000. Hantz Financial Services Inc. grew its holdings in Leggett & Platt by 32.0% during the fourth quarter. Hantz Financial Services Inc. now owns 3,231 shares of the company’s stock worth $36,000 after purchasing an additional 783 shares during the period. Advisory Services Network LLC acquired a new position in Leggett & Platt during the third quarter worth approximately $51,000. Finally, Kingdom Financial Group LLC. acquired a new position in Leggett & Platt during the fourth quarter worth approximately $66,000. Institutional investors own 64.23% of the company’s stock.

Leggett & Platt Stock Up 1.8%

Shares of LEG opened at $10.97 on Friday. Leggett & Platt, Incorporated has a 12 month low of $7.86 and a 12 month high of $13.00. The firm’s 50 day moving average is $10.48 and its 200-day moving average is $11.01. The stock has a market capitalization of $1.50 billion, a PE ratio of 6.81 and a beta of 0.74. The company has a current ratio of 2.33, a quick ratio of 1.45 and a debt-to-equity ratio of 1.44.

Leggett & Platt (NYSE:LEG) last issued its quarterly earnings results on Thursday, May 7th. The company reported $0.15 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.26 by ($0.11). Leggett & Platt had a net margin of 5.69% and a return on equity of 12.62%. The company had revenue of $918.20 million during the quarter, compared to the consensus estimate of $946.79 million. During the same quarter last year, the firm posted $0.24 earnings per share. The company’s quarterly revenue was down 10.2% on a year-over-year basis. Equities research analysts forecast that Leggett & Platt, Incorporated will post 0.9 EPS for the current year.

Leggett & Platt Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 15th. Stockholders of record on Monday, June 15th will be issued a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a dividend yield of 1.8%. The ex-dividend date of this dividend is Monday, June 15th. Leggett & Platt’s dividend payout ratio is 12.42%.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the company. Zacks Research lowered Leggett & Platt from a “hold” rating to a “strong sell” rating in a research note on Thursday, May 14th. Weiss Ratings raised Leggett & Platt from a “hold (c-)” rating to a “hold (c)” rating in a report on Friday, May 15th. Wall Street Zen downgraded Leggett & Platt from a “buy” rating to a “hold” rating in a report on Saturday, February 21st. Finally, Truist Financial decreased their price objective on shares of Leggett & Platt from $13.00 to $11.00 and set a “hold” rating on the stock in a report on Friday, May 8th. Four equities research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Reduce” and an average price target of $11.33.

Leggett & Platt Company Profile

Leggett & Platt, Inc is a diversified manufacturer specializing in the design, engineering and production of a wide range of engineered components and products. The company’s offerings span several end markets, including residential bedding, commercial and residential furniture, automotive seating and interiors, aerospace applications and industrial products. By integrating product design with proprietary manufacturing processes, Leggett & Platt serves as a key supplier to both original equipment manufacturers and aftermarket distributors.

The company’s core product lines include coil springs and support systems for mattresses and furniture, adjustable bed mechanisms, engineered components such as extruded and formed metal products, and specialty foam and bedding products.