Leggett & Platt, Incorporated (NYSE:LEG - Get Free Report) EVP Ryan Michael Kleiboeker purchased 10,000 shares of the stock in a transaction on Thursday, May 2nd. The shares were purchased at an average cost of $13.39 per share, for a total transaction of $133,900.00. Following the acquisition, the executive vice president now directly owns 41,535 shares of the company's stock, valued at $556,153.65. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.
Leggett & Platt Trading Up 2.9 %
Shares of Leggett & Platt stock opened at $13.95 on Friday. 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 firm's 50 day simple moving average is $18.63 and its two-hundred day simple moving average is $22.08. Leggett & Platt, Incorporated has a 12-month low of $11.02 and a 12-month high of $33.11.
Leggett & Platt (NYSE:LEG - Get Free Report) last announced its quarterly earnings data on Tuesday, April 30th. The company reported $0.23 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.24 by ($0.01). Leggett & Platt had a positive return on equity of 11.31% and a negative net margin of 3.44%. The firm had revenue of $1.10 billion during the quarter, compared to analysts' expectations of $1.11 billion. During the same quarter in the previous year, the business earned $0.39 earnings per share. The company's revenue for the quarter was down 9.6% compared to the same quarter last year. As a group, analysts expect that Leggett & Platt, Incorporated will post 1.15 earnings per share for the current fiscal year.
Leggett & Platt Cuts Dividend
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The business also recently declared 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. This represents a $0.20 annualized dividend and a yield of 1.43%. The ex-dividend date is Friday, June 14th. Leggett & Platt's dividend payout ratio is currently -158.62%.
Hedge Funds Weigh In On Leggett & Platt
Several institutional investors and hedge funds have recently modified their holdings of the stock. Ramirez Asset Management Inc. acquired a new position in shares of Leggett & Platt in the 3rd quarter valued at $25,000. Fifth Third Bancorp increased its holdings in Leggett & Platt by 253.3% in the fourth quarter. Fifth Third Bancorp now owns 1,007 shares of the company's stock valued at $26,000 after buying an additional 722 shares in the last quarter. GAMMA Investing LLC acquired a new position in shares of Leggett & Platt in the fourth quarter worth about $40,000. ORG Partners LLC purchased a new stake in shares of Leggett & Platt during the 4th quarter worth about $49,000. Finally, Quadrant Capital Group LLC grew its position in shares of Leggett & Platt by 56.2% during the 4th quarter. Quadrant Capital Group LLC now owns 2,130 shares of the company's stock valued at $56,000 after acquiring an additional 766 shares during the period. Institutional investors and hedge funds own 64.23% of the company's stock.
Wall Street Analysts Forecast Growth
LEG has been the topic of a number of research reports. TheStreet cut shares of Leggett & Platt from a "c" rating to a "d+" rating in a research note on Monday, March 11th. StockNews.com lowered shares of Leggett & Platt from a "hold" rating to a "sell" rating in a report on Monday, March 11th. Truist Financial cut their target price on shares of Leggett & Platt from $16.00 to $13.00 and set a "hold" rating on the stock in a research report on Friday. Piper Sandler reduced their price target on Leggett & Platt from $16.00 to $13.00 and set an "underweight" rating for the company in a research report on Wednesday. Finally, The Goldman Sachs Group reduced their price objective on shares of Leggett & Platt from $20.00 to $14.00 and set a "neutral" rating for the company 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 stock. Based on data from MarketBeat, the company has an average rating of "Hold" and an average target price of $13.33.
Get Our Latest Stock Analysis on Leggett & Platt
About Leggett & Platt
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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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