Legal & General Group Plc purchased a new stake in Leggett & Platt, Incorporated (NYSE:LEG – Free Report) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 305,131 shares of the company’s stock, valued at approximately $3,573,000.
Other institutional investors also recently added to or reduced their stakes in the company. Elevation Wealth Partners LLC boosted its stake in shares of Leggett & Platt by 752.8% in the second quarter. Elevation Wealth Partners LLC now owns 2,311 shares of the company’s stock valued at $27,000 after buying an additional 2,040 shares in the last quarter. Motiv8 Investments LLC acquired a new position in Leggett & Platt during the fourth quarter valued at approximately $34,000. Palisade Asset Management LLC acquired a new position in shares of Leggett & Platt during the third quarter worth $29,000. Hantz Financial Services Inc. grew its position 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 in the last quarter. Finally, Advisory Services Network LLC acquired a new position in Leggett & Platt in the third quarter worth $51,000. Institutional investors and hedge funds own 64.23% of the company’s stock.
Leggett & Platt Price Performance
Shares of LEG stock opened at $9.20 on Friday. Leggett & Platt, Incorporated has a 12 month low of $8.34 and a 12 month high of $13.00. The firm has a market cap of $1.26 billion, a price-to-earnings ratio of 5.90 and a beta of 0.73. The company has a quick ratio of 1.53, a current ratio of 2.35 and a debt-to-equity ratio of 1.38. The stock has a 50-day moving average price of $10.26 and a 200 day moving average price of $10.47.
Leggett & Platt Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Monday, August 24th. Investors of record on Monday, August 10th were given a dividend of $0.05 per share. The ex-dividend date of this dividend was Monday, August 10th. This represents a $0.20 dividend on an annualized basis and a yield of 2.2%. Leggett & Platt’s dividend payout ratio is currently 12.82%.
Analysts Set New Price Targets
Several research analysts recently weighed in on the company. Zacks Research raised Leggett & Platt from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, August 19th. Piper Sandler dropped their target price on Leggett & Platt from $12.00 to $10.00 and set a “neutral” rating on the stock in a report on Wednesday, August 12th. 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. Finally, Weiss Ratings downgraded shares of Leggett & Platt from a “hold (c)” rating to a “hold (c-)” rating in a report on Wednesday, July 29th. One investment analyst has rated the stock with a Strong Buy rating and four have given a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $10.67.
Read Our Latest Research Report on Leggett & Platt
Leggett & Platt 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.
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