1,517 Shares in Leggett & Platt, Incorporated (NYSE:LEG) Acquired by GAMMA Investing LLC

GAMMA Investing LLC purchased a new position in shares of Leggett & Platt, Incorporated (NYSE:LEG) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 1,517 shares of the company’s stock, valued at approximately $40,000.

A number of other hedge funds have also recently added to or reduced their stakes in LEG. Illinois Municipal Retirement Fund purchased a new position in shares of Leggett & Platt in the 4th quarter valued at approximately $735,000. Daiwa Securities Group Inc. grew its stake in shares of Leggett & Platt by 17.0% in the 4th quarter. Daiwa Securities Group Inc. now owns 9,263 shares of the company’s stock valued at $242,000 after purchasing an additional 1,346 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of Leggett & Platt by 12.4% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 28,489 shares of the company’s stock valued at $746,000 after purchasing an additional 3,142 shares during the last quarter. SVB Wealth LLC purchased a new position in shares of Leggett & Platt in the 4th quarter valued at approximately $232,000. Finally, Lecap Asset Management Ltd. acquired a new stake in shares of Leggett & Platt in the 4th quarter valued at approximately $505,000. Hedge funds and other institutional investors own 64.23% of the company’s stock.

Leggett & Platt Stock Up 2.9 %

LEG opened at $13.95 on Friday. The business’s fifty day moving average is $18.63 and its two-hundred day moving average is $22.06. The company has a debt-to-equity ratio of 1.37, a quick ratio of 0.84 and a current ratio of 1.57. 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, Incorporated has a one year low of $11.02 and a one year high of $33.11.

Leggett & Platt (NYSE:LEG) last posted its earnings results on Tuesday, April 30th. The company reported $0.23 EPS for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.01). The firm had revenue of $1.10 billion for the quarter, compared to analysts’ expectations of $1.11 billion. Leggett & Platt had a positive return on equity of 11.31% and a negative net margin of 3.44%. The firm’s revenue for the quarter was down 9.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.39 earnings per share. Analysts anticipate that Leggett & Platt, Incorporated will post 1.15 EPS for the current fiscal year.

Leggett & Platt Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Friday, June 14th will be given 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 payout ratio is -158.62%.

Insiders Place Their Bets

In related news, EVP Ryan Michael Kleiboeker acquired 10,000 shares of Leggett & Platt stock in a transaction dated Thursday, May 2nd. The shares were acquired at an average cost of $13.39 per share, for a total transaction of $133,900.00. Following the completion of the transaction, the executive vice president now directly owns 41,535 shares of the company’s stock, valued at $556,153.65. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 1.57% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on LEG. TheStreet downgraded Leggett & Platt from a “c” rating to a “d+” rating in a research note on Monday, March 11th. Piper Sandler decreased their price target on Leggett & Platt from $16.00 to $13.00 and set an “underweight” rating on the stock in a research note on Wednesday. StockNews.com downgraded Leggett & Platt from a “hold” rating to a “sell” rating in a research note on Monday, March 11th. Truist Financial decreased their price target on Leggett & Platt from $16.00 to $13.00 and set a “hold” rating on the stock in a research note on Friday. Finally, The Goldman Sachs Group decreased their price target on Leggett & Platt from $20.00 to $14.00 and set a “neutral” rating on the stock in a research note on Thursday. Two analysts have rated the stock with a sell rating and two have issued a hold rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price 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.