Allspring Global Investments Holdings LLC Purchases 2,100 Shares of Leggett & Platt, Incorporated (NYSE:LEG)

Allspring Global Investments Holdings LLC increased its position in shares of Leggett & Platt, Incorporated (NYSE:LEG) by 36.8% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 7,800 shares of the company’s stock after acquiring an additional 2,100 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Leggett & Platt were worth $204,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of LEG. Insight Folios Inc increased its stake in shares of Leggett & Platt by 5.2% in the fourth quarter. Insight Folios Inc now owns 9,374 shares of the company’s stock valued at $245,000 after buying an additional 460 shares during the period. Federated Hermes Inc. raised its stake in shares of Leggett & Platt by 2.8% during the third quarter. Federated Hermes Inc. now owns 18,641 shares of the company’s stock valued at $474,000 after acquiring an additional 499 shares during the last quarter. Arizona State Retirement System lifted its holdings in shares of Leggett & Platt by 1.4% during the third quarter. Arizona State Retirement System now owns 37,901 shares of the company’s stock worth $963,000 after purchasing an additional 523 shares during the period. Covestor Ltd grew its stake in shares of Leggett & Platt by 17.6% in the third quarter. Covestor Ltd now owns 3,575 shares of the company’s stock worth $91,000 after purchasing an additional 535 shares during the last quarter. Finally, GPS Wealth Strategies Group LLC increased its holdings in Leggett & Platt by 15.1% in the fourth quarter. GPS Wealth Strategies Group LLC now owns 4,624 shares of the company’s stock valued at $121,000 after purchasing an additional 605 shares during the period. 64.23% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

LEG has been the topic of several recent research reports. TheStreet downgraded Leggett & Platt from a “c” rating to a “d+” rating in a report on Monday, March 11th. StockNews.com cut Leggett & Platt from a “hold” rating to a “sell” rating in a report on Monday, March 11th. Finally, Truist Financial decreased their target price 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 equities research analysts have rated the stock with a sell rating and two have assigned a hold rating to the company. According to data from MarketBeat, Leggett & Platt has an average rating of “Hold” and an average target price of $19.33.

Leggett & Platt Stock Performance

NYSE LEG opened at $17.99 on Friday. 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 company has a fifty day moving average price of $19.12 and a 200-day moving average price of $22.41. Leggett & Platt, Incorporated has a 1 year low of $17.19 and a 1 year high of $33.50. The firm has a market cap of $2.41 billion, a price-to-earnings ratio of -17.99 and a beta of 1.17.

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

Leggett & Platt Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Friday, March 15th were given a dividend of $0.46 per share. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $1.84 dividend on an annualized basis and a dividend yield of 10.23%. Leggett & Platt’s dividend payout ratio is presently -184.00%.

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.