SVB Wealth LLC Invests $232,000 in Leggett & Platt, Incorporated (NYSE:LEG)

SVB Wealth LLC purchased a new position in Leggett & Platt, Incorporated (NYSE:LEG) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 8,870 shares of the company’s stock, valued at approximately $232,000.

Several other institutional investors and hedge funds also recently modified their holdings of the business. Ramirez Asset Management Inc. acquired a new stake in shares of Leggett & Platt in the third quarter valued at $25,000. Fifth Third Bancorp lifted its holdings in shares of Leggett & Platt by 253.3% in the fourth quarter. Fifth Third Bancorp now owns 1,007 shares of the company’s stock valued at $26,000 after buying an additional 722 shares during the period. Hexagon Capital Partners LLC lifted its holdings in shares of Leggett & Platt by 67.5% in the third quarter. Hexagon Capital Partners LLC now owns 1,930 shares of the company’s stock valued at $49,000 after buying an additional 778 shares during the period. ORG Partners LLC acquired a new stake in shares of Leggett & Platt in the fourth quarter valued at $49,000. Finally, Covestor Ltd lifted its holdings in shares of Leggett & Platt by 17.6% in the third quarter. Covestor Ltd now owns 3,575 shares of the company’s stock valued at $91,000 after buying an additional 535 shares during the period. Institutional investors own 64.23% of the company’s stock.

Leggett & Platt Stock Up 0.1 %

Shares of Leggett & Platt stock opened at $18.27 on Tuesday. The company has a current ratio of 1.49, a quick ratio of 0.84 and a debt-to-equity ratio of 1.26. Leggett & Platt, Incorporated has a 1 year low of $17.19 and a 1 year high of $33.50. The stock has a 50-day moving average price of $19.26 and a 200 day moving average price of $22.57. The company has a market cap of $2.44 billion, a P/E ratio of -18.27 and a beta of 1.17.

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

Leggett & Platt Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Friday, March 15th were given a $0.46 dividend. This represents a $1.84 annualized dividend and a yield of 10.07%. The ex-dividend date of this dividend was Thursday, March 14th. Leggett & Platt’s payout ratio is currently -184.00%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the company. StockNews.com downgraded Leggett & Platt from a “hold” rating to a “sell” rating in a report on Monday, March 11th. TheStreet downgraded Leggett & Platt from a “c” rating to a “d+” rating in a report on Monday, March 11th. Finally, Truist Financial reduced their target price on Leggett & Platt from $18.00 to $16.00 and set a “hold” rating for the company in a report on Tuesday, March 26th. Two analysts have rated the stock with a sell rating and two have given a hold rating to the stock. According to MarketBeat, Leggett & Platt currently has an average rating of “Hold” and a consensus price target of $19.33.

About Leggett & Platt

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.