Leggett & Platt, Incorporated (NYSE:LEG) EVP Ryan Michael Kleiboeker Acquires 10,000 Shares of Stock

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

Leggett & Platt Stock Up 2.9 %

NYSE LEG opened at $13.95 on Friday. Leggett & Platt, Incorporated has a 52 week low of $11.02 and a 52 week high of $33.11. The company has a debt-to-equity ratio of 1.37, a current ratio of 1.57 and a quick ratio of 0.84. The stock has a fifty day moving average of $18.63 and a 200-day moving average of $22.08.

Leggett & Platt (NYSE:LEG) last announced its quarterly earnings data 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 firm had revenue of $1.10 billion for 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%. The business’s revenue for the quarter was down 9.6% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.39 earnings per share. Analysts forecast that Leggett & Platt, Incorporated will post 1.15 EPS for the current year.

Leggett & Platt Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Friday, June 14th will be paid a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.43%. The ex-dividend date is Friday, June 14th. Leggett & Platt’s dividend payout ratio (DPR) is currently -158.62%.

Hedge Funds Weigh In On Leggett & Platt

Several institutional investors have recently modified their holdings of LEG. Ramirez Asset Management Inc. bought a new position in shares of Leggett & Platt during the 3rd quarter valued at about $25,000. Fifth Third Bancorp increased its position in shares of 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 acquiring an additional 722 shares in the last quarter. GAMMA Investing LLC acquired a new stake in shares of Leggett & Platt during the fourth quarter worth $40,000. ORG Partners LLC bought a new stake in Leggett & Platt in the 4th quarter valued at $49,000. Finally, Quadrant Capital Group LLC increased its holdings in Leggett & Platt by 56.2% during the 4th quarter. Quadrant Capital Group LLC now owns 2,130 shares of the company’s stock worth $56,000 after purchasing an additional 766 shares in the last quarter. 64.23% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages have recently commented on LEG. The Goldman Sachs Group reduced their target price on Leggett & Platt from $20.00 to $14.00 and set a “neutral” rating on the stock in a report on Thursday. TheStreet lowered Leggett & Platt from a “c” rating to a “d+” rating in a research note on Monday, March 11th. StockNews.com lowered Leggett & Platt from a “hold” rating to a “sell” rating in a research note on Monday, March 11th. Piper Sandler reduced their price target on shares of Leggett & Platt from $16.00 to $13.00 and set an “underweight” rating on the stock in a research report on Wednesday. Finally, Truist Financial lowered their price objective 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 research analysts have rated the stock with a sell rating and two have given a hold rating to the company’s stock. According to 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.