Envestnet Asset Management Inc. Has $12.09 Million Stock Position in Leggett & Platt, Incorporated (NYSE:LEG)

Envestnet Asset Management Inc. grew its position in Leggett & Platt, Incorporated (NYSE:LEGGet Rating) by 18.0% in the first quarter, Holdings Channel.com reports. The fund owned 347,525 shares of the company’s stock after buying an additional 53,014 shares during the period. Envestnet Asset Management Inc.’s holdings in Leggett & Platt were worth $12,094,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently modified their holdings of the company. Fifth Third Bancorp lifted its position in shares of Leggett & Platt by 22.9% in the 4th quarter. Fifth Third Bancorp now owns 1,430 shares of the company’s stock worth $59,000 after acquiring an additional 266 shares during the period. Ellevest Inc. lifted its position in shares of Leggett & Platt by 35.9% in the 1st quarter. Ellevest Inc. now owns 1,151 shares of the company’s stock worth $40,000 after acquiring an additional 304 shares during the period. Mitsubishi UFJ Trust & Banking Corp lifted its position in shares of Leggett & Platt by 2.7% in the 4th quarter. Mitsubishi UFJ Trust & Banking Corp now owns 16,022 shares of the company’s stock worth $659,000 after acquiring an additional 424 shares during the period. Creative Financial Designs Inc. ADV lifted its position in shares of Leggett & Platt by 9.6% in the 1st quarter. Creative Financial Designs Inc. ADV now owns 5,533 shares of the company’s stock worth $193,000 after acquiring an additional 486 shares during the period. Finally, Benjamin F. Edwards & Company Inc. lifted its position in shares of Leggett & Platt by 1.7% in the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 32,820 shares of the company’s stock worth $1,351,000 after acquiring an additional 563 shares during the period. Institutional investors own 72.99% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on LEG. The Goldman Sachs Group reduced their price objective on Leggett & Platt from $50.00 to $43.00 and set a “buy” rating for the company in a research report on Thursday, June 23rd. StockNews.com upgraded Leggett & Platt from a “sell” rating to a “hold” rating in a research report on Tuesday, May 3rd. Piper Sandler cut their target price on Leggett & Platt from $40.00 to $36.00 and set a “neutral” rating for the company in a research report on Tuesday, June 14th. Raymond James downgraded Leggett & Platt from an “outperform” rating to a “market perform” rating in a research report on Wednesday, May 4th. Finally, TheStreet upgraded Leggett & Platt from a “c+” rating to a “b-” rating in a research report on Monday, August 1st. Three equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $43.00.

Insider Activity

In other news, Director Phoebe A. Wood sold 2,500 shares of Leggett & Platt stock in a transaction on Wednesday, June 1st. The stock was sold at an average price of $38.35, for a total value of $95,875.00. Following the completion of the sale, the director now directly owns 53,580 shares of the company’s stock, valued at approximately $2,054,793. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 1.57% of the company’s stock.

Leggett & Platt Trading Down 0.0 %

LEG stock opened at $40.53 on Friday. The business has a fifty day moving average price of $37.23 and a 200 day moving average price of $37.19. Leggett & Platt, Incorporated has a fifty-two week low of $33.19 and a fifty-two week high of $49.94. The stock has a market capitalization of $5.41 billion, a price-to-earnings ratio of 14.27 and a beta of 1.31. The company has a debt-to-equity ratio of 1.11, a current ratio of 1.57 and a quick ratio of 0.81.

Leggett & Platt (NYSE:LEGGet Rating) last released its quarterly earnings results on Monday, August 1st. The company reported $0.70 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.70. Leggett & Platt had a return on equity of 23.85% and a net margin of 7.31%. The firm had revenue of $1.33 billion during the quarter, compared to analysts’ expectations of $1.33 billion. During the same period last year, the firm posted $0.66 EPS. The business’s revenue was up 5.1% on a year-over-year basis. Analysts expect that Leggett & Platt, Incorporated will post 2.67 EPS for the current fiscal year.

Leggett & Platt Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, July 15th. Stockholders of record on Wednesday, June 15th were paid a $0.44 dividend. This is a boost from Leggett & Platt’s previous quarterly dividend of $0.42. This represents a $1.76 annualized dividend and a dividend yield of 4.34%. The ex-dividend date of this dividend was Tuesday, June 14th. Leggett & Platt’s dividend payout ratio (DPR) is 61.97%.

Leggett & Platt Company Profile

(Get Rating)

Leggett & Platt, Incorporated designs, manufactures, and markets engineered components and products worldwide. It operates through three segments: Bedding Products; Specialized Products; and Furniture, Flooring & Textile Products. The company offers steel rods, drawn wires, foam chemicals and additives, innersprings, specialty foams, private label finished mattresses, mattress foundations, wire forms for mattress foundations, adjustable beds, industrial sewing and quilting machines, and mattress packaging and glue drying equipment, as well as machines to produce innersprings for industrial users of steel rods and wires, manufacturers of finished bedding, big box and e-commerce retailers, bedding brands and mattress retailers, department stores, and home improvement centers.

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Institutional Ownership by Quarter for Leggett & Platt (NYSE:LEG)

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