ORG Partners LLC Buys New Stake in Leggett & Platt, Incorporated (NYSE:LEG)

ORG Partners LLC bought a new stake in shares of Leggett & Platt, Incorporated (NYSE:LEG) during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 1,851 shares of the company’s stock, valued at approximately $49,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Point72 Asset Management L.P. acquired a new position in Leggett & Platt in the 2nd quarter worth $28,000. Ramirez Asset Management Inc. acquired a new position in Leggett & Platt in the 3rd quarter worth $25,000. Fifth Third Bancorp lifted its holdings in Leggett & Platt by 253.3% in the 4th quarter. Fifth Third Bancorp now owns 1,007 shares of the company’s stock worth $26,000 after buying an additional 722 shares in the last quarter. Quent Capital LLC lifted its holdings in Leggett & Platt by 133.6% in the 3rd quarter. Quent Capital LLC now owns 1,014 shares of the company’s stock worth $26,000 after buying an additional 580 shares in the last quarter. Finally, Industrial Alliance Investment Management Inc. acquired a new position in Leggett & Platt in the 4th quarter worth $48,000. Institutional investors and hedge funds own 64.23% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the stock. StockNews.com downgraded shares of Leggett & Platt from a “hold” rating to a “sell” rating in a research report on Monday, March 11th. TheStreet downgraded shares of Leggett & Platt from a “c” rating to a “d+” 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 for the company 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’s stock. Based on data from MarketBeat, Leggett & Platt has an average rating of “Hold” and an average target price of $19.33.

Leggett & Platt Stock Down 0.3 %

Leggett & Platt stock opened at $17.60 on Tuesday. The company has a debt-to-equity ratio of 1.26, a current ratio of 1.49 and a quick ratio of 0.84. The firm has a 50-day moving average price of $19.71 and a two-hundred day moving average price of $22.81. Leggett & Platt, Incorporated has a 52-week low of $17.44 and a 52-week high of $33.50.

Leggett & Platt (NYSE:LEG) last posted 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 firm 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 revenue for the quarter was down 6.7% on a year-over-year basis. During the same period in the previous year, the firm earned $0.39 earnings per share. As a group, equities analysts predict that Leggett & Platt, Incorporated will post 1.17 earnings per share for the current fiscal year.

Leggett & Platt Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Friday, March 15th were paid a $0.46 dividend. This represents a $1.84 dividend on an annualized basis and a dividend yield of 10.45%. The ex-dividend date was Thursday, March 14th. Leggett & Platt’s dividend payout ratio 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.