Leggett & Platt, Incorporated $LEG Shares Purchased by JPMorgan Chase & Co.

JPMorgan Chase & Co. boosted its stake in shares of Leggett & Platt, Incorporated (NYSE:LEG) by 165.5% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 657,997 shares of the company’s stock after acquiring an additional 410,171 shares during the quarter. JPMorgan Chase & Co.’s holdings in Leggett & Platt were worth $5,843,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Palisade Asset Management LLC acquired a new stake in shares of Leggett & Platt during the 3rd quarter worth approximately $29,000. Quent Capital LLC acquired a new position in shares of Leggett & Platt in the 3rd quarter valued at $34,000. Advisory Services Network LLC acquired a new position in shares of Leggett & Platt in the 3rd quarter valued at $51,000. HM Payson & Co. purchased a new stake in Leggett & Platt during the third quarter worth $89,000. Finally, Captrust Financial Advisors purchased a new stake in Leggett & Platt during the second quarter worth $91,000. 64.23% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on LEG shares. Weiss Ratings cut shares of Leggett & Platt from a “hold (c-)” rating to a “sell (d+)” rating in a report on Monday, March 16th. Piper Sandler raised their target price on Leggett & Platt from $10.00 to $12.00 and gave the company a “neutral” rating in a research report on Thursday, December 11th. Zacks Research lowered Leggett & Platt from a “strong-buy” rating to a “hold” rating in a research note on Friday, December 5th. Finally, Wall Street Zen cut Leggett & Platt from a “buy” rating to a “hold” rating in a report on Saturday, February 21st. Four analysts have rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, Leggett & Platt presently has a consensus rating of “Reduce” and a consensus target price of $11.67.

Leggett & Platt Price Performance

Shares of NYSE LEG opened at $9.87 on Wednesday. The firm has a market cap of $1.34 billion, a PE ratio of 5.84 and a beta of 0.71. The firm has a fifty day moving average of $11.29 and a 200 day moving average of $10.51. The company has a debt-to-equity ratio of 1.46, a quick ratio of 1.45 and a current ratio of 2.25. Leggett & Platt, Incorporated has a one year low of $6.47 and a one year high of $13.00.

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

Leggett & Platt Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 15th. Investors of record on Friday, March 13th will be paid a $0.05 dividend. The ex-dividend date of this dividend is Friday, March 13th. This represents a $0.20 dividend on an annualized basis and a yield of 2.0%. Leggett & Platt’s dividend payout ratio (DPR) is currently 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.