EP Wealth Advisors LLC Takes $670,000 Position in Leggett & Platt, Incorporated $LEG

EP Wealth Advisors LLC purchased a new position in Leggett & Platt, Incorporated (NYSE:LEG) in the 2nd quarter, HoldingsChannel reports. The fund purchased 57,206 shares of the company’s stock, valued at approximately $670,000.

A number of other hedge funds also recently bought and sold shares of LEG. BlackRock Inc. purchased a new position in Leggett & Platt in the second quarter worth about $265,194,000. Vanguard Group Inc. raised its holdings in Leggett & Platt by 1.5% in the 4th quarter. Vanguard Group Inc. now owns 18,990,042 shares of the company’s stock worth $208,890,000 after acquiring an additional 282,940 shares during the last quarter. Geode Capital Management LLC lifted its position in Leggett & Platt by 6.1% in the 4th quarter. Geode Capital Management LLC now owns 3,173,733 shares of the company’s stock valued at $34,917,000 after acquiring an additional 183,218 shares in the last quarter. Quantinno Capital Management LP boosted its stake in Leggett & Platt by 22.7% during the 1st quarter. Quantinno Capital Management LP now owns 3,023,884 shares of the company’s stock valued at $29,876,000 after purchasing an additional 559,868 shares during the last quarter. Finally, Invenomic Capital Management LP increased its holdings in shares of Leggett & Platt by 4.0% in the 4th quarter. Invenomic Capital Management LP now owns 2,437,519 shares of the company’s stock worth $26,813,000 after purchasing an additional 93,213 shares in the last quarter. Institutional investors own 64.23% of the company’s stock.

Leggett & Platt Trading Down 0.1%

Shares of LEG stock opened at $9.40 on Tuesday. The company has a current ratio of 2.35, a quick ratio of 1.53 and a debt-to-equity ratio of 1.38. Leggett & Platt, Incorporated has a 12-month low of $8.34 and a 12-month high of $13.00. The stock has a market capitalization of $1.28 billion, a P/E ratio of 6.03 and a beta of 0.73. The firm’s 50 day moving average is $10.60 and its 200 day moving average is $10.66.

Leggett & Platt (NYSE:LEG) last announced its earnings results on Thursday, August 6th. The company reported $0.39 earnings per share for the quarter, beating analysts’ consensus estimates of $0.26 by $0.13. The business had revenue of $999.70 million during the quarter, compared to analyst estimates of $982.86 million. Leggett & Platt had a net margin of 5.64% and a return on equity of 13.31%. The company’s quarterly revenue was down 5.5% compared to the same quarter last year. During the same period in the previous year, the business earned $0.30 EPS. Research analysts expect that Leggett & Platt, Incorporated will post 1.05 earnings per share for the current year.

Leggett & Platt Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, August 24th. Investors of record on Monday, August 10th were issued a $0.05 dividend. The ex-dividend date of this dividend was Monday, August 10th. This represents a $0.20 annualized dividend and a dividend yield of 2.1%. Leggett & Platt’s payout ratio is presently 12.82%.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on LEG shares. Zacks Research raised Leggett & Platt from a “hold” rating to a “strong-buy” rating in a report on Wednesday, August 19th. Truist Financial reduced their price objective 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 lowered Leggett & Platt from a “hold (c)” rating to a “hold (c-)” rating in a research report on Wednesday, July 29th. Finally, Piper Sandler lowered their target price on shares of Leggett & Platt from $12.00 to $10.00 and set a “neutral” rating on the stock in a research note on Wednesday, August 12th. One equities research analyst has rated the stock with a Strong Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $10.67.

About Leggett & Platt

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.