Dean Capital Management Reduces Stock Holdings in Leggett & Platt, Incorporated $LEG

Dean Capital Management lessened its stake in shares of Leggett & Platt, Incorporated (NYSE:LEG) by 70.2% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 32,900 shares of the company’s stock after selling 77,685 shares during the quarter. Dean Capital Management’s holdings in Leggett & Platt were worth $325,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Motiv8 Investments LLC purchased a new position in shares of Leggett & Platt in the 4th quarter valued at $34,000. Palisade Asset Management LLC acquired a new position in Leggett & Platt in the third quarter valued at $29,000. Hantz Financial Services Inc. boosted its stake in Leggett & Platt by 32.0% in the fourth quarter. Hantz Financial Services Inc. now owns 3,231 shares of the company’s stock valued at $36,000 after acquiring an additional 783 shares in the last quarter. Advisory Services Network LLC purchased a new position in shares of Leggett & Platt during the third quarter worth about $51,000. Finally, Kingdom Financial Group LLC. purchased a new position in shares of Leggett & Platt during the fourth quarter worth about $66,000. Institutional investors and hedge funds own 64.23% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on LEG shares. Truist Financial reduced their target price on Leggett & Platt from $13.00 to $11.00 and set a “hold” rating for the company in a report on Friday, May 8th. Weiss Ratings upgraded Leggett & Platt from a “hold (c-)” rating to a “hold (c)” rating in a research note on Friday, May 15th. Finally, Zacks Research raised Leggett & Platt from a “strong sell” rating to a “hold” rating in a research report on Monday, July 20th. Five analysts have rated the stock with a Hold rating, According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $11.33.

Leggett & Platt Stock Up 0.0%

Shares of NYSE:LEG opened at $11.16 on Monday. Leggett & Platt, Incorporated has a 1-year low of $7.86 and a 1-year high of $13.00. The company has a debt-to-equity ratio of 1.44, a current ratio of 2.33 and a quick ratio of 1.45. The stock has a market cap of $1.52 billion, a P/E ratio of 6.93 and a beta of 0.71. The firm has a fifty day moving average price of $10.72 and a 200 day moving average price of $11.00.

Leggett & Platt (NYSE:LEG) last posted its quarterly earnings data on Thursday, May 7th. The company reported $0.15 EPS for the quarter, missing analysts’ consensus estimates of $0.26 by ($0.11). Leggett & Platt had a net margin of 5.69% and a return on equity of 12.62%. The business had revenue of $918.20 million during the quarter, compared to analyst estimates of $946.79 million. During the same quarter in the prior year, the firm posted $0.24 earnings per share. The company’s revenue for the quarter was down 10.2% compared to the same quarter last year. Sell-side analysts predict that Leggett & Platt, Incorporated will post 0.9 EPS for the current year.

Leggett & Platt Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 15th. Shareholders of record on Monday, June 15th were paid a dividend of $0.05 per share. The ex-dividend date of this dividend was Monday, June 15th. This represents a $0.20 annualized dividend and a yield of 1.8%. Leggett & Platt’s dividend payout ratio is currently 12.42%.

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.