59,639 Shares in Leggett & Platt, Incorporated $LEG Purchased by Optimize Financial Inc

Optimize Financial Inc acquired a new position in shares of Leggett & Platt, Incorporated (NYSE:LEG) during the third quarter, HoldingsChannel reports. The fund acquired 59,639 shares of the company’s stock, valued at approximately $530,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Royal Bank of Canada lifted its position in shares of Leggett & Platt by 59.5% during the first quarter. Royal Bank of Canada now owns 47,054 shares of the company’s stock worth $372,000 after purchasing an additional 17,561 shares in the last quarter. Jones Financial Companies Lllp raised its position in Leggett & Platt by 8.4% in the 1st quarter. Jones Financial Companies Lllp now owns 14,661 shares of the company’s stock worth $116,000 after purchasing an additional 1,132 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in Leggett & Platt by 3.0% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 454,096 shares of the company’s stock worth $3,592,000 after buying an additional 13,187 shares in the last quarter. Jane Street Group LLC lifted its holdings in Leggett & Platt by 36.3% during the 1st quarter. Jane Street Group LLC now owns 1,175,452 shares of the company’s stock worth $9,298,000 after buying an additional 312,840 shares in the last quarter. Finally, Acadian Asset Management LLC boosted its position in Leggett & Platt by 113.5% in the 1st quarter. Acadian Asset Management LLC now owns 109,638 shares of the company’s stock valued at $866,000 after buying an additional 58,292 shares during the last quarter. Institutional investors and hedge funds own 64.23% of the company’s stock.

Leggett & Platt Price Performance

Shares of LEG opened at $12.38 on Wednesday. The stock has a market cap of $1.68 billion, a P/E ratio of 7.69 and a beta of 0.72. Leggett & Platt, Incorporated has a 1 year low of $6.47 and a 1 year high of $12.78. The stock’s 50-day moving average price is $11.56 and its two-hundred day moving average price is $10.07. The company has a current ratio of 2.15, a quick ratio of 1.35 and a debt-to-equity ratio of 1.54.

Leggett & Platt Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, January 15th. Investors of record on Monday, December 15th were issued a dividend of $0.05 per share. The ex-dividend date was Monday, December 15th. This represents a $0.20 dividend on an annualized basis and a yield of 1.6%. Leggett & Platt’s payout ratio is currently 12.42%.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on LEG. Zacks Research downgraded Leggett & Platt from a “strong-buy” rating to a “hold” rating in a research report on Friday, December 5th. Piper Sandler boosted their price objective on Leggett & Platt from $10.00 to $12.00 and gave the stock a “neutral” rating in a report on Thursday, December 11th. Weiss Ratings restated a “hold (c-)” rating on shares of Leggett & Platt in a research report on Monday, December 29th. The Goldman Sachs Group reiterated a “neutral” rating and set a $11.00 price target on shares of Leggett & Platt in a research report on Wednesday, October 29th. Finally, Truist Financial boosted their price target on shares of Leggett & Platt from $10.00 to $12.00 and gave the stock a “hold” rating in a research note on Wednesday, October 29th. Five investment analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $11.67.

Leggett & Platt Profile

Leggett & Platt, Inc is a diversified manufacturer specializing in the design, engineering and production of a wide range of engineered components and products. The company’s offerings span several end markets, including residential bedding, commercial and residential furniture, automotive seating and interiors, aerospace applications and industrial products. By integrating product design with proprietary manufacturing processes, Leggett & Platt serves as a key supplier to both original equipment manufacturers and aftermarket distributors.

The company’s core product lines include coil springs and support systems for mattresses and furniture, adjustable bed mechanisms, engineered components such as extruded and formed metal products, and specialty foam and bedding products.