Oak Thistle LLC Makes New Investment in Leggett & Platt, Incorporated (NYSE:LEG)

Oak Thistle LLC bought a new stake in Leggett & Platt, Incorporated (NYSE:LEG) during the 4th quarter, Holdings Channel.com reports. The institutional investor bought 89,193 shares of the company’s stock, valued at approximately $856,000.

Several other large investors have also made changes to their positions in the company. Pacer Advisors Inc. boosted its position in Leggett & Platt by 426.2% in the second quarter. Pacer Advisors Inc. now owns 14,042,134 shares of the company’s stock valued at $160,923,000 after buying an additional 11,373,507 shares in the last quarter. AQR Capital Management LLC raised its stake in shares of Leggett & Platt by 1,098.0% in the second quarter. AQR Capital Management LLC now owns 2,005,408 shares of the company’s stock valued at $22,160,000 after acquiring an additional 1,838,009 shares during the last quarter. Wellington Management Group LLP bought a new position in shares of Leggett & Platt in the third quarter valued at approximately $15,735,000. Invenomic Capital Management LP grew its position in Leggett & Platt by 384.1% during the 3rd quarter. Invenomic Capital Management LP now owns 921,472 shares of the company’s stock worth $12,550,000 after acquiring an additional 731,132 shares during the last quarter. Finally, FMR LLC increased its holdings in Leggett & Platt by 3,264.5% during the 3rd quarter. FMR LLC now owns 692,884 shares of the company’s stock valued at $9,437,000 after purchasing an additional 672,290 shares in the last quarter. Institutional investors own 64.23% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the company. The Goldman Sachs Group reduced their price objective on Leggett & Platt from $14.00 to $12.00 and set a “neutral” rating on the stock in a research note on Tuesday. Piper Sandler upgraded shares of Leggett & Platt from an “underweight” rating to a “neutral” rating and upped their price target for the stock from $11.00 to $13.00 in a research report on Wednesday, October 30th. Four equities research analysts have rated the stock with a hold rating, According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $12.67.

Leggett & Platt Stock Up 3.6 %

Shares of LEG opened at $10.72 on Thursday. The business’s fifty day moving average price is $11.03 and its two-hundred day moving average price is $12.02. The firm has a market capitalization of $1.44 billion, a price-to-earnings ratio of -1.78 and a beta of 1.11. Leggett & Platt, Incorporated has a 52 week low of $9.18 and a 52 week high of $25.29. The company has a debt-to-equity ratio of 2.13, a quick ratio of 0.84 and a current ratio of 1.48.

Leggett & Platt (NYSE:LEG) last issued its quarterly earnings results on Monday, October 28th. The company reported $0.32 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.33 by ($0.01). The firm had revenue of $1.10 billion for the quarter, compared to analyst estimates of $1.10 billion. Leggett & Platt had a negative net margin of 18.53% and a positive return on equity of 14.99%. The company’s revenue was down 6.3% compared to the same quarter last year. During the same period last year, the company earned $0.36 EPS. On average, analysts predict that Leggett & Platt, Incorporated will post 1.05 earnings per share for the current year.

Leggett & Platt Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Friday, December 13th were given a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a dividend yield of 1.87%. The ex-dividend date of this dividend was Friday, December 13th. Leggett & Platt’s dividend payout ratio is -3.33%.

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.