Crestline Management LP Makes New Investment in Leggett & Platt, Incorporated (NYSE:LEG)

Crestline Management LP acquired a new position in shares of Leggett & Platt, Incorporated (NYSE:LEG) during the 4th quarter, Holdings Channel.com reports. The fund acquired 17,846 shares of the company’s stock, valued at approximately $171,000.

Several other large investors have also recently added to or reduced their stakes in LEG. SRS Capital Advisors Inc. grew its stake in shares of Leggett & Platt by 555.8% during the fourth quarter. SRS Capital Advisors Inc. now owns 3,102 shares of the company’s stock valued at $30,000 after purchasing an additional 2,629 shares during the last quarter. SBI Securities Co. Ltd. bought a new stake in shares of Leggett & Platt during the fourth quarter valued at approximately $50,000. KBC Group NV grew its stake in shares of Leggett & Platt by 74.5% during the fourth quarter. KBC Group NV now owns 7,028 shares of the company’s stock valued at $67,000 after purchasing an additional 3,000 shares during the last quarter. Sterling Capital Management LLC grew its stake in shares of Leggett & Platt by 17.1% during the fourth quarter. Sterling Capital Management LLC now owns 7,972 shares of the company’s stock valued at $77,000 after purchasing an additional 1,163 shares during the last quarter. Finally, Blue Trust Inc. grew its stake in shares of Leggett & Platt by 461.6% during the fourth quarter. Blue Trust Inc. now owns 9,688 shares of the company’s stock valued at $93,000 after purchasing an additional 7,963 shares during the last quarter. 64.23% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts have recently commented on LEG shares. Truist Financial decreased their price target on shares of Leggett & Platt from $13.00 to $11.00 and set a “hold” rating on the stock in a research note on Wednesday, January 29th. The Goldman Sachs Group increased their price target on shares of Leggett & Platt from $8.00 to $9.00 and gave the company a “neutral” rating in a research note on Wednesday, April 30th. Finally, Piper Sandler reissued a “neutral” rating and set a $9.00 price target (down from $12.00) on shares of Leggett & Platt in a research note on Friday, April 11th.

Leggett & Platt Trading Up 1.6%

Shares of NYSE LEG opened at $9.43 on Monday. The company’s 50 day simple moving average is $7.97 and its 200 day simple moving average is $9.82. Leggett & Platt, Incorporated has a fifty-two week low of $6.48 and a fifty-two week high of $14.24. The firm has a market capitalization of $1.27 billion, a P/E ratio of -2.53 and a beta of 0.75. The company has a debt-to-equity ratio of 2.70, a current ratio of 2.00 and a quick ratio of 1.14.

Leggett & Platt (NYSE:LEG) last announced its quarterly earnings data on Monday, April 28th. The company reported $0.24 earnings per share for the quarter, beating the consensus estimate of $0.23 by $0.01. Leggett & Platt had a negative net margin of 11.67% and a positive return on equity of 17.09%. The business had revenue of $1.02 billion for the quarter, compared to analyst estimates of $1.02 billion. During the same period in the prior year, the business posted $0.23 earnings per share. Leggett & Platt’s revenue was down 6.8% compared to the same quarter last year. On average, analysts predict that Leggett & Platt, Incorporated will post 1.14 EPS for the current year.

Leggett & Platt Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Friday, June 13th will be issued a $0.05 dividend. The ex-dividend date of this dividend is Friday, June 13th. This represents a $0.20 annualized dividend and a yield of 2.12%. Leggett & Platt’s dividend payout ratio is currently -5.35%.

Leggett & Platt Profile

Leggett & Platt, Inc engages in the manufacture and distribution of furniture and engineered components and products among homes, offices, automobiles, and commercial aircraft. It operates through the following segments: Bedding Products, Specialized Products, and Furniture, Flooring & Textile Products.