Capital Investment Advisors LLC Has $242,000 Stock Position in Leggett & Platt, Incorporated (NYSE:LEG)

Capital Investment Advisors LLC lifted its holdings in shares of Leggett & Platt, Incorporated (NYSE:LEGGet Rating) by 11.8% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 6,987 shares of the company’s stock after purchasing an additional 735 shares during the quarter. Capital Investment Advisors LLC’s holdings in Leggett & Platt were worth $242,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the business. Ellevest Inc. increased its stake in shares of Leggett & Platt by 35.9% during the 1st quarter. Ellevest Inc. now owns 1,151 shares of the company’s stock worth $40,000 after purchasing an additional 304 shares during the last quarter. Geneos Wealth Management Inc. grew its stake in Leggett & Platt by 18.9% in the 1st quarter. Geneos Wealth Management Inc. now owns 1,915 shares of the company’s stock valued at $66,000 after buying an additional 305 shares during the last quarter. First City Capital Management Inc. grew its stake in Leggett & Platt by 1.2% in the 1st quarter. First City Capital Management Inc. now owns 32,480 shares of the company’s stock valued at $1,130,000 after buying an additional 400 shares during the last quarter. Crossmark Global Holdings Inc. grew its stake in Leggett & Platt by 0.4% in the 1st quarter. Crossmark Global Holdings Inc. now owns 120,718 shares of the company’s stock valued at $4,201,000 after buying an additional 443 shares during the last quarter. Finally, Cetera Advisor Networks LLC grew its stake in Leggett & Platt by 5.2% in the 1st quarter. Cetera Advisor Networks LLC now owns 8,989 shares of the company’s stock valued at $313,000 after buying an additional 443 shares during the last quarter. Institutional investors and hedge funds own 71.79% of the company’s stock.

Wall Street Analyst Weigh In

LEG has been the topic of a number of research analyst reports. The Goldman Sachs Group lowered their target price on shares of Leggett & Platt from $50.00 to $43.00 and set a “buy” rating on the stock in a research note on Thursday, June 23rd. TheStreet upgraded shares of Leggett & Platt from a “c+” rating to a “b-” rating in a research note on Monday, August 1st. Finally, Piper Sandler lowered their target price on shares of Leggett & Platt from $40.00 to $36.00 and set a “neutral” rating on the stock in a research note on Tuesday, June 14th. Three investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $43.00.

Insider Buying and Selling at Leggett & Platt

In other news, Chairman Karl G. Glassman sold 26,401 shares of the firm’s stock in a transaction dated Friday, August 5th. The shares were sold at an average price of $40.53, for a total transaction of $1,070,032.53. Following the completion of the transaction, the chairman now directly owns 852,950 shares of the company’s stock, valued at approximately $34,570,063.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 1.57% of the company’s stock.

Leggett & Platt Price Performance

Shares of Leggett & Platt stock opened at $36.28 on Monday. The company has a debt-to-equity ratio of 1.11, a current ratio of 1.57 and a quick ratio of 0.80. Leggett & Platt, Incorporated has a fifty-two week low of $33.19 and a fifty-two week high of $48.37. The firm has a fifty day moving average price of $38.90 and a two-hundred day moving average price of $37.34. The company has a market cap of $4.85 billion, a PE ratio of 12.77 and a beta of 1.30.

Leggett & Platt (NYSE:LEGGet Rating) last issued 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 net margin of 7.31% and a return on equity of 23.85%. The firm had revenue of $1.33 billion during the quarter, compared to the consensus estimate of $1.33 billion. During the same period in the prior year, the firm earned $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 2.71 EPS for the current year.

Leggett & Platt Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, October 14th. Shareholders of record on Thursday, September 15th will be issued a $0.44 dividend. This represents a $1.76 dividend on an annualized basis and a yield of 4.85%. The ex-dividend date of this dividend is Wednesday, September 14th. Leggett & Platt’s dividend payout ratio (DPR) is presently 61.97%.

Leggett & Platt Profile

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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.

See Also

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

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