Leggett & Platt, Incorporated (NYSE:LEG) Shares Acquired by Venture Visionary Partners LLC

Venture Visionary Partners LLC lifted its stake in shares of Leggett & Platt, Incorporated (NYSE:LEG) by 38.5% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 55,376 shares of the company’s stock after acquiring an additional 15,389 shares during the quarter. Venture Visionary Partners LLC’s holdings in Leggett & Platt were worth $1,449,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in LEG. Ramirez Asset Management Inc. acquired a new position in Leggett & Platt in the third quarter worth approximately $25,000. Quent Capital LLC grew its position in Leggett & Platt by 133.6% in the third quarter. Quent Capital LLC now owns 1,014 shares of the company’s stock worth $26,000 after buying an additional 580 shares during the last quarter. Fifth Third Bancorp grew its position in Leggett & Platt by 253.3% in the fourth quarter. Fifth Third Bancorp now owns 1,007 shares of the company’s stock worth $26,000 after buying an additional 722 shares during the last quarter. Point72 Asset Management L.P. acquired a new position in Leggett & Platt in the second quarter worth approximately $28,000. Finally, Industrial Alliance Investment Management Inc. acquired a new position in Leggett & Platt in the fourth quarter worth approximately $48,000. Institutional investors and hedge funds own 64.23% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have issued reports on LEG shares. TheStreet lowered shares of Leggett & Platt from a “c” rating to a “d+” rating in a research report on Monday, March 11th. StockNews.com cut shares of Leggett & Platt from a “hold” rating to a “sell” rating in a research report on Monday, March 11th. Finally, Truist Financial lowered their price objective on shares of Leggett & Platt from $18.00 to $16.00 and set a “hold” rating on the stock in a research report on Tuesday, March 26th. Two investment analysts have rated the stock with a sell rating and two have given a hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $19.33.

Leggett & Platt Price Performance

NYSE LEG opened at $18.69 on Friday. Leggett & Platt, Incorporated has a twelve month low of $17.81 and a twelve month high of $33.50. The company has a current ratio of 1.49, a quick ratio of 0.84 and a debt-to-equity ratio of 1.26. The firm’s 50 day moving average price is $20.33 and its two-hundred day moving average price is $23.11.

Leggett & Platt (NYSE:LEG) last issued its earnings results on Friday, February 9th. The company reported $0.26 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.27 by ($0.01). The company had revenue of $1.12 billion for the quarter, compared to analyst estimates of $1.11 billion. Leggett & Platt had a negative net margin of 2.90% and a positive return on equity of 11.99%. The company’s quarterly revenue was down 6.7% on a year-over-year basis. During the same period last year, the business earned $0.39 EPS. As a group, sell-side analysts forecast that Leggett & Platt, Incorporated will post 1.17 earnings per share for the current year.

Leggett & Platt Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, April 15th. Shareholders of record on Friday, March 15th will be paid a dividend of $0.46 per share. This represents a $1.84 dividend on an annualized basis and a dividend yield of 9.84%. The ex-dividend date is Thursday, March 14th. Leggett & Platt’s dividend payout ratio (DPR) is currently -184.00%.

Leggett & Platt Company 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.