Leggett & Platt, Incorporated (NYSE:LEG) EVP Purchases $133,900.00 in Stock

Leggett & Platt, Incorporated (NYSE:LEG) EVP Ryan Michael Kleiboeker purchased 10,000 shares of the company’s stock in a transaction on Thursday, May 2nd. The shares were purchased at an average cost of $13.39 per share, with a total value of $133,900.00. Following the purchase, the executive vice president now owns 41,535 shares of the company’s stock, valued at $556,153.65. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink.

Leggett & Platt Stock Up 2.9 %

Shares of NYSE LEG opened at $13.95 on Monday. The firm’s fifty day moving average is $18.63 and its 200 day moving average is $22.04. Leggett & Platt, Incorporated has a 52 week low of $11.02 and a 52 week high of $33.11. The company has a quick ratio of 0.84, a current ratio of 1.57 and a debt-to-equity ratio of 1.37. The company has a market cap of $1.87 billion, a price-to-earnings ratio of -12.03 and a beta of 1.19.

Leggett & Platt (NYSE:LEG) last announced its quarterly earnings results on Tuesday, April 30th. The company reported $0.23 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.01). The firm had revenue of $1.10 billion during the quarter, compared to the consensus estimate of $1.11 billion. Leggett & Platt had a positive return on equity of 11.31% and a negative net margin of 3.44%. Leggett & Platt’s revenue was down 9.6% on a year-over-year basis. During the same period last year, the business earned $0.39 EPS. On average, equities research analysts expect that Leggett & Platt, Incorporated will post 1.14 earnings per share for the current year.

Leggett & Platt Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, July 15th. Investors of record on Friday, June 14th will be issued a dividend of $0.05 per share. The ex-dividend date is Friday, June 14th. This represents a $0.20 dividend on an annualized basis and a yield of 1.43%. Leggett & Platt’s dividend payout ratio is presently -158.62%.

Institutional Investors Weigh In On Leggett & Platt

Several institutional investors and hedge funds have recently bought and sold shares of LEG. Insight Folios Inc increased its stake in shares of Leggett & Platt by 5.2% during 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. increased its position in Leggett & Platt by 2.8% during the 3rd quarter. Federated Hermes Inc. now owns 18,641 shares of the company’s stock valued at $474,000 after purchasing an additional 499 shares during the period. Arizona State Retirement System raised its holdings in Leggett & Platt by 1.4% in the 3rd quarter. Arizona State Retirement System now owns 37,901 shares of the company’s stock worth $963,000 after purchasing an additional 523 shares in the last quarter. Covestor Ltd boosted its stake in shares of Leggett & Platt by 17.6% during the 3rd quarter. Covestor Ltd now owns 3,575 shares of the company’s stock valued at $91,000 after purchasing an additional 535 shares in the last quarter. Finally, Treasurer of the State of North Carolina increased its position in shares of Leggett & Platt by 1.0% during the fourth quarter. Treasurer of the State of North Carolina now owns 58,754 shares of the company’s stock valued at $1,538,000 after buying an additional 570 shares during the period. Hedge funds and other institutional investors own 64.23% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on LEG shares. TheStreet cut Leggett & Platt from a “c” rating to a “d+” rating in a report on Monday, March 11th. Piper Sandler lowered their price objective on shares of Leggett & Platt from $16.00 to $13.00 and set an “underweight” rating for the company in a report on Wednesday, May 1st. The Goldman Sachs Group reduced their target price on shares of Leggett & Platt from $20.00 to $14.00 and set a “neutral” rating on the stock in a report on Thursday. StockNews.com downgraded shares of Leggett & Platt from a “hold” rating to a “sell” rating in a research note on Monday, March 11th. Finally, Truist Financial cut their price target on shares of Leggett & Platt from $16.00 to $13.00 and set a “hold” rating for the company in a research report on Friday. Two equities research analysts have rated the stock with a sell rating and two have given a hold rating to the stock. According to data from MarketBeat.com, Leggett & Platt has an average rating of “Hold” and an average price target of $13.33.

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.