Leggett & Platt, Incorporated $LEG is Seven Six Capital Management LLC’s 6th Largest Position

Seven Six Capital Management LLC reduced its position in Leggett & Platt, Incorporated (NYSE:LEG) by 7.2% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 678,701 shares of the company’s stock after selling 52,400 shares during the quarter. Leggett & Platt comprises about 5.9% of Seven Six Capital Management LLC’s holdings, making the stock its 6th biggest holding. Seven Six Capital Management LLC’s holdings in Leggett & Platt were worth $6,027,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of LEG. Marshall Wace LLP boosted its position in Leggett & Platt by 35.8% during the second quarter. Marshall Wace LLP now owns 3,380,980 shares of the company’s stock valued at $30,158,000 after buying an additional 890,577 shares during the period. Prudential Financial Inc. lifted its holdings in shares of Leggett & Platt by 202.7% during the second quarter. Prudential Financial Inc. now owns 402,232 shares of the company’s stock valued at $3,588,000 after purchasing an additional 269,347 shares during the last quarter. Franklin Resources Inc. bought a new position in Leggett & Platt during the 2nd quarter valued at approximately $2,137,000. Exchange Traded Concepts LLC bought a new stake in Leggett & Platt during the 3rd quarter valued at about $1,093,000. Finally, Norges Bank purchased a new position in shares of Leggett & Platt during the second quarter valued at approximately $10,706,000. 64.23% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the company. Zacks Research lowered Leggett & Platt from a “strong-buy” rating to a “hold” rating in a research note on Friday, December 5th. Weiss Ratings restated a “hold (c-)” rating on shares of Leggett & Platt in a research note on Monday, December 29th. Piper Sandler boosted their target price on shares of Leggett & Platt from $10.00 to $12.00 and gave the stock a “neutral” rating in a report on Thursday, December 11th. Finally, Wall Street Zen cut shares of Leggett & Platt from a “buy” rating to a “hold” rating in a research note on Saturday, February 21st. Five investment analysts have rated the stock with a Hold rating, According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $11.67.

Leggett & Platt Stock Down 0.6%

LEG stock traded down $0.07 during trading on Friday, reaching $10.15. 90,777 shares of the company traded hands, compared to its average volume of 1,636,819. The business has a 50 day simple moving average of $11.84 and a 200 day simple moving average of $10.48. Leggett & Platt, Incorporated has a 12 month low of $6.47 and a 12 month high of $13.00. The company has a debt-to-equity ratio of 1.46, a quick ratio of 1.45 and a current ratio of 2.25. The company has a market capitalization of $1.38 billion, a price-to-earnings ratio of 6.01 and a beta of 0.71.

Leggett & Platt (NYSE:LEG) last released its quarterly earnings results on Wednesday, February 11th. The company reported $0.22 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.22. The business had revenue of $938.60 million for the quarter, compared to analysts’ expectations of $938.74 million. Leggett & Platt had a net margin of 5.80% and a return on equity of 15.00%. The company’s revenue was down 11.2% compared to the same quarter last year. During the same period last year, the business earned $0.21 EPS. On average, equities research analysts anticipate that Leggett & Platt, Incorporated will post 1.14 earnings per share for the current fiscal year.

Leggett & Platt Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 15th. Stockholders of record on Friday, March 13th will be issued a $0.05 dividend. This represents a $0.20 annualized dividend and a dividend yield of 2.0%. The ex-dividend date of this dividend is Friday, March 13th. Leggett & Platt’s dividend payout ratio is presently 11.83%.

Leggett & Platt Company 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.