Impact Partnership Wealth LLC Acquires Shares of 23,418 Leggett & Platt, Incorporated (NYSE:LEG)

Impact Partnership Wealth LLC bought a new position in shares of Leggett & Platt, Incorporated (NYSE:LEG) in the fourth quarter, HoldingsChannel reports. The firm bought 23,418 shares of the company’s stock, valued at approximately $225,000.

Other hedge funds have also modified their holdings of the company. Allspring Global Investments Holdings LLC raised its position in Leggett & Platt by 76.3% in the third quarter. Allspring Global Investments Holdings LLC now owns 2,043 shares of the company’s stock worth $28,000 after acquiring an additional 884 shares in the last quarter. Applied Capital LLC FL increased its holdings in shares of Leggett & Platt by 5.4% in the 3rd quarter. Applied Capital LLC FL now owns 25,987 shares of the company’s stock valued at $354,000 after purchasing an additional 1,327 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Leggett & Platt in the third quarter valued at about $29,000. Bleakley Financial Group LLC boosted its holdings in Leggett & Platt by 8.1% during the third quarter. Bleakley Financial Group LLC now owns 33,352 shares of the company’s stock worth $454,000 after buying an additional 2,501 shares in the last quarter. Finally, Point72 Hong Kong Ltd acquired a new position in Leggett & Platt during the third quarter worth about $37,000. 64.23% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on LEG shares. Piper Sandler upgraded shares of Leggett & Platt from an “underweight” rating to a “neutral” rating and lifted their price target for the company from $11.00 to $13.00 in a research report on Wednesday, October 30th. The Goldman Sachs Group decreased their target price on Leggett & Platt from $14.00 to $12.00 and set a “neutral” rating on the stock in a research report on Tuesday, January 14th. Four research analysts have rated the stock with a hold rating, According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $12.67.

Leggett & Platt Stock Down 0.6 %

LEG stock opened at $10.71 on Friday. The company has a current ratio of 1.48, a quick ratio of 0.84 and a debt-to-equity ratio of 2.13. Leggett & Platt, Incorporated has a 12 month low of $9.18 and a 12 month high of $24.30. The company’s 50 day simple moving average is $10.86 and its 200-day simple moving average is $12.00.

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

Leggett & Platt Dividend Announcement

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

Leggett & Platt Profile

Leggett & Platt, Inc engages in the manufacture and distribution of furniture and engineered components and products among homes, offices, automobiles, and commercial aircraft. It operates through the following segments: Bedding Products, Specialized Products, and Furniture, Flooring & Textile Products.