Leggett & Platt, Incorporated $LEG Shares Acquired by Corient Private Wealth LLC

Corient Private Wealth LLC lifted its stake in shares of Leggett & Platt, Incorporated (NYSE:LEG) by 84.2% in the 4th quarter, Holdings Channel.com reports. The firm owned 130,234 shares of the company’s stock after buying an additional 59,522 shares during the quarter. Corient Private Wealth LLC’s holdings in Leggett & Platt were worth $1,433,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently modified their holdings of the stock. Royal Bank of Canada raised its position in Leggett & Platt by 59.5% during the 1st quarter. Royal Bank of Canada now owns 47,054 shares of the company’s stock worth $372,000 after buying an additional 17,561 shares during the last quarter. Jones Financial Companies Lllp boosted its holdings in Leggett & Platt by 8.4% in the 1st quarter. Jones Financial Companies Lllp now owns 14,661 shares of the company’s stock valued at $116,000 after purchasing an additional 1,132 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in Leggett & Platt by 3.0% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 454,096 shares of the company’s stock worth $3,592,000 after purchasing an additional 13,187 shares during the period. Jane Street Group LLC increased its position in Leggett & Platt by 36.3% during the 1st quarter. Jane Street Group LLC now owns 1,175,452 shares of the company’s stock worth $9,298,000 after purchasing an additional 312,840 shares during the period. Finally, Acadian Asset Management LLC raised its stake in shares of Leggett & Platt by 113.5% during the 1st quarter. Acadian Asset Management LLC now owns 109,638 shares of the company’s stock worth $866,000 after buying an additional 58,292 shares in the last quarter. 64.23% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on LEG. Weiss Ratings upgraded Leggett & Platt from a “hold (c-)” rating to a “hold (c)” rating in a research note on Friday, May 15th. Truist Financial reduced their price objective on shares of Leggett & Platt from $13.00 to $11.00 and set a “hold” rating for the company in a research note on Friday, May 8th. Finally, Zacks Research lowered shares of Leggett & Platt from a “hold” rating to a “strong sell” rating in a research report on Thursday, May 14th. Four research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Reduce” and a consensus price target of $11.33.

Leggett & Platt Price Performance

Shares of NYSE LEG opened at $11.71 on Wednesday. The company has a current ratio of 2.33, a quick ratio of 1.45 and a debt-to-equity ratio of 1.44. The company’s 50-day moving average price is $10.54 and its 200 day moving average price is $11.01. Leggett & Platt, Incorporated has a 52 week low of $7.86 and a 52 week high of $13.00. The stock has a market cap of $1.60 billion, a price-to-earnings ratio of 7.28 and a beta of 0.74.

Leggett & Platt (NYSE:LEG) last announced 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). The business had revenue of $918.20 million during the quarter, compared to analysts’ expectations of $946.79 million. Leggett & Platt had a net margin of 5.69% and a return on equity of 12.62%. The firm’s revenue for the quarter was down 10.2% on a year-over-year basis. During the same period last year, the company earned $0.24 EPS. As a group, research analysts forecast that Leggett & Platt, Incorporated will post 0.9 earnings per share for the current fiscal year.

Leggett & Platt Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 15th. Shareholders of record on Monday, June 15th will be given a dividend of $0.05 per share. The ex-dividend date of this dividend is Monday, June 15th. This represents a $0.20 annualized dividend and a yield of 1.7%. Leggett & Platt’s dividend payout ratio (DPR) is presently 12.42%.

Leggett & Platt 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.