Leggett & Platt, Incorporated $LEG Shares Sold by Pacer Advisors Inc.

Pacer Advisors Inc. decreased its holdings in Leggett & Platt, Incorporated (NYSE:LEG) by 9.5% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,073,271 shares of the company’s stock after selling 112,400 shares during the quarter. Pacer Advisors Inc. owned about 0.79% of Leggett & Platt worth $10,604,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Palisade Asset Management LLC purchased a new position in Leggett & Platt during the 3rd quarter worth $29,000. Motiv8 Investments LLC purchased a new stake in shares of Leggett & Platt in the fourth quarter valued at about $34,000. Hantz Financial Services Inc. boosted its stake in shares of Leggett & Platt by 32.0% during the fourth quarter. Hantz Financial Services Inc. now owns 3,231 shares of the company’s stock worth $36,000 after buying an additional 783 shares during the period. Advisory Services Network LLC acquired a new stake 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.

Analysts Set New Price Targets

Several equities analysts recently issued reports on LEG shares. Zacks Research upgraded Leggett & Platt from a “strong sell” rating to a “hold” rating in a research report on Monday, July 20th. Weiss Ratings cut Leggett & Platt from a “hold (c)” rating to a “hold (c-)” rating in a research report on Wednesday, July 29th. Finally, Truist Financial lowered their target price on Leggett & Platt from $13.00 to $11.00 and set a “hold” rating on the stock in a research note on Friday, May 8th. Five investment analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $11.33.

Leggett & Platt Stock Up 4.4%

LEG stock opened at $10.46 on Wednesday. The stock has a market capitalization of $1.43 billion, a PE ratio of 6.49 and a beta of 0.73. The company has a fifty day moving average of $10.79 and a 200-day moving average of $10.92. The company has a debt-to-equity ratio of 1.44, a quick ratio of 1.45 and a current ratio of 2.33. Leggett & Platt, Incorporated has a one year low of $8.32 and a one year high of $13.00.

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

Leggett & Platt Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, August 24th. Stockholders of record on Monday, August 10th will be issued a $0.05 dividend. This represents a $0.20 annualized dividend and a dividend yield of 1.9%. The ex-dividend date of this dividend is Monday, August 10th. Leggett & Platt’s dividend payout ratio (DPR) is currently 12.42%.

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.