270,526 Shares in Leggett & Platt, Incorporated $LEG Bought by Empowered Funds LLC

Empowered Funds LLC bought a new stake in Leggett & Platt, Incorporated (NYSE:LEG) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 270,526 shares of the company’s stock, valued at approximately $3,168,000. Empowered Funds LLC owned 0.20% of Leggett & Platt as of its most recent SEC filing.

A number of other institutional investors have also bought and sold shares of LEG. Hantz Financial Services Inc. raised its position in shares of Leggett & Platt by 32.0% in the 4th quarter. Hantz Financial Services Inc. now owns 3,231 shares of the company’s stock worth $36,000 after acquiring an additional 783 shares in the last quarter. Optimize Financial Inc boosted its position in shares of Leggett & Platt by 1.5% during the 4th quarter. Optimize Financial Inc now owns 60,507 shares of the company’s stock valued at $666,000 after purchasing an additional 868 shares in the last quarter. GAMMA Investing LLC grew its stake in Leggett & Platt by 18.3% during the second quarter. GAMMA Investing LLC now owns 6,800 shares of the company’s stock worth $80,000 after purchasing an additional 1,051 shares during the period. Jones Financial Companies Lllp grew its stake in Leggett & Platt by 8.4% during the first quarter. Jones Financial Companies Lllp now owns 14,661 shares of the company’s stock worth $116,000 after purchasing an additional 1,132 shares during the period. Finally, Brooklyn Investment Group increased its holdings in Leggett & Platt by 3.6% in the fourth quarter. Brooklyn Investment Group now owns 42,539 shares of the company’s stock worth $468,000 after purchasing an additional 1,484 shares in the last quarter. Institutional investors own 64.23% of the company’s stock.

Leggett & Platt Price Performance

LEG stock opened at $9.20 on Wednesday. The stock’s 50 day simple moving average is $10.40 and its 200 day simple moving average is $10.51. The company has a market cap of $1.26 billion, a P/E ratio of 5.90 and a beta of 0.73. The company has a debt-to-equity ratio of 1.38, a quick ratio of 1.53 and a current ratio of 2.35. Leggett & Platt, Incorporated has a fifty-two week low of $8.34 and a fifty-two week high of $13.00.

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

Leggett & Platt Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, August 24th. Shareholders of record on Monday, August 10th were paid a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a dividend yield of 2.2%. The ex-dividend date of this dividend was Monday, August 10th. Leggett & Platt’s dividend payout ratio (DPR) is 12.82%.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the company. Truist Financial cut their price target on Leggett & Platt from $13.00 to $11.00 and set a “hold” rating on the stock in a report on Friday, May 8th. Weiss Ratings lowered shares of Leggett & Platt from a “hold (c)” rating to a “hold (c-)” rating in a research note on Wednesday, July 29th. Piper Sandler dropped 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 report on Wednesday, August 12th. Finally, Zacks Research raised shares of Leggett & Platt from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, August 19th. One equities research analyst has rated the stock with a Strong Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average 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.