International Assets Investment Management LLC Buys New Shares in Leggett & Platt, Incorporated (NYSE:LEG)

International Assets Investment Management LLC acquired a new position in shares of Leggett & Platt, Incorporated (NYSE:LEG) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 12,843 shares of the company’s stock, valued at approximately $336,000.

Other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. raised its holdings in Leggett & Platt by 0.9% during the third quarter. Vanguard Group Inc. now owns 12,946,981 shares of the company’s stock worth $328,983,000 after buying an additional 117,499 shares during the last quarter. Fifth Third Bancorp raised its holdings in Leggett & Platt by 253.3% during 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. Pacer Advisors Inc. raised its holdings in Leggett & Platt by 68.5% during the fourth quarter. Pacer Advisors Inc. now owns 1,934,905 shares of the company’s stock worth $50,636,000 after buying an additional 786,297 shares during the last quarter. Invesco Ltd. raised its holdings in Leggett & Platt by 45.7% during the third quarter. Invesco Ltd. now owns 1,699,580 shares of the company’s stock worth $43,186,000 after buying an additional 532,780 shares during the last quarter. Finally, American Century Companies Inc. raised its holdings in Leggett & Platt by 332.4% during the third quarter. American Century Companies Inc. now owns 233,806 shares of the company’s stock worth $5,941,000 after buying an additional 179,734 shares during the last quarter. Institutional investors and hedge funds own 64.23% of the company’s stock.

Insider Buying and Selling at Leggett & Platt

In other Leggett & Platt news, EVP Ryan Michael Kleiboeker acquired 10,000 shares of the company’s stock in a transaction on Thursday, May 2nd. The shares were acquired at an average cost of $13.39 per share, with a total value of $133,900.00. Following the completion of the acquisition, the executive vice president now directly owns 41,535 shares in the company, valued at $556,153.65. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 1.92% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently issued reports on LEG shares. Truist Financial reduced their target price on shares of Leggett & Platt from $16.00 to $13.00 and set a “hold” rating for the company in a research note on Friday, May 3rd. The Goldman Sachs Group reduced their target price on shares of Leggett & Platt from $20.00 to $14.00 and set a “neutral” rating for the company in a research note on Thursday, May 2nd. Piper Sandler reduced their target price on shares of Leggett & Platt from $16.00 to $13.00 and set an “underweight” rating for the company in a research note on Wednesday, May 1st. TheStreet lowered shares of Leggett & Platt from a “c” rating to a “d+” rating in a research note on Monday, March 11th. Finally, StockNews.com upgraded shares of Leggett & Platt from a “sell” rating to a “hold” rating in a research note on Tuesday, May 7th. One investment analyst has rated the stock with a sell rating and three have issued a hold rating to the company’s stock. According to data from MarketBeat, Leggett & Platt currently has an average rating of “Hold” and a consensus price target of $13.33.

Leggett & Platt Price Performance

LEG opened at $11.21 on Thursday. The firm has a market cap of $1.50 billion, a P/E ratio of -9.66 and a beta of 1.19. The firm has a 50-day moving average of $16.56 and a 200 day moving average of $21.04. The company has a debt-to-equity ratio of 1.37, a quick ratio of 0.89 and a current ratio of 1.57. Leggett & Platt, Incorporated has a fifty-two week low of $11.02 and a fifty-two week high of $32.86.

Leggett & Platt (NYSE:LEG) last posted its quarterly earnings results on Tuesday, April 30th. The company reported $0.23 earnings per share for the quarter, missing the consensus estimate of $0.24 by ($0.01). The company had revenue of $1.10 billion for the quarter, compared to the consensus estimate of $1.11 billion. Leggett & Platt had a negative net margin of 3.44% and a positive return on equity of 11.31%. Leggett & Platt’s quarterly revenue was down 9.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.39 EPS. On average, research analysts expect that Leggett & Platt, Incorporated will post 1.13 EPS for the current year.

Leggett & Platt Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Friday, June 14th will be issued a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a yield of 1.78%. The ex-dividend date is Friday, June 14th. Leggett & Platt’s dividend payout ratio (DPR) is presently -17.24%.

Leggett & Platt 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.