Leggett & Platt, Incorporated (NYSE:LEG – Get Free Report)’s stock price rose 3.9% on Tuesday . The stock traded as high as $13.49 and last traded at $13.44. Approximately 169,870 shares were traded during mid-day trading, a decline of 93% from the average daily volume of 2,347,283 shares. The stock had previously closed at $12.94.
Wall Street Analyst Weigh In
Several equities research analysts recently issued reports on LEG shares. The Goldman Sachs Group reduced their target price on shares of Leggett & Platt from $14.00 to $12.00 and set a “neutral” rating for the company in a report on Wednesday, July 10th. StockNews.com raised shares of Leggett & Platt from a “sell” rating to a “hold” rating in a report on Wednesday, August 28th. Finally, Truist Financial increased their target price on shares of Leggett & Platt from $11.00 to $13.00 and gave the stock a “hold” rating in a report on Monday, August 5th. One research analyst has rated the stock with a sell rating and three have assigned a hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $12.67.
View Our Latest Stock Report on Leggett & Platt
Leggett & Platt Stock Performance
Leggett & Platt (NYSE:LEG – Get Free Report) last announced its quarterly earnings results on Thursday, August 1st. The company reported $0.29 EPS for the quarter, meeting the consensus estimate of $0.29. The firm had revenue of $1.13 billion for the quarter, compared to analyst estimates of $1.13 billion. Leggett & Platt had a positive return on equity of 12.65% and a negative net margin of 18.05%. As a group, equities research analysts expect that Leggett & Platt, Incorporated will post 1.14 EPS for the current year.
Leggett & Platt Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Friday, September 13th will be paid a $0.05 dividend. The ex-dividend date is Friday, September 13th. This represents a $0.20 annualized dividend and a yield of 1.52%. Leggett & Platt’s dividend payout ratio (DPR) is presently -17.24%.
Hedge Funds Weigh In On Leggett & Platt
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Arizona State Retirement System lifted its holdings in shares of Leggett & Platt by 2.2% during the second quarter. Arizona State Retirement System now owns 37,438 shares of the company’s stock worth $429,000 after purchasing an additional 799 shares during the period. State of Michigan Retirement System lifted its holdings in shares of Leggett & Platt by 2.5% during the first quarter. State of Michigan Retirement System now owns 32,748 shares of the company’s stock worth $627,000 after purchasing an additional 800 shares during the period. Swiss National Bank lifted its holdings in Leggett & Platt by 0.3% in the first quarter. Swiss National Bank now owns 263,300 shares of the company’s stock valued at $5,042,000 after acquiring an additional 900 shares during the period. Abich Financial Wealth Management LLC lifted its holdings in Leggett & Platt by 93.2% in the first quarter. Abich Financial Wealth Management LLC now owns 1,930 shares of the company’s stock valued at $37,000 after acquiring an additional 931 shares during the period. Finally, Arbor Wealth Advisors LLC lifted its holdings in Leggett & Platt by 1.8% in the first quarter. Arbor Wealth Advisors LLC now owns 57,762 shares of the company’s stock valued at $1,106,000 after acquiring an additional 1,010 shares during the period. Hedge funds and other institutional investors own 64.23% of the company’s stock.
Leggett & Platt Company 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.
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