State Street Corp Has $60.66 Million Position in Leggett & Platt, Incorporated (NYSE:LEG)

State Street Corp raised its holdings in shares of Leggett & Platt, Incorporated (NYSE:LEG) by 0.6% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 4,437,066 shares of the company’s stock after purchasing an additional 27,693 shares during the quarter. State Street Corp’s holdings in Leggett & Platt were worth $60,657,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Allspring Global Investments Holdings LLC lifted its stake in Leggett & Platt by 76.3% in the third quarter. Allspring Global Investments Holdings LLC now owns 2,043 shares of the company’s stock valued at $28,000 after buying an additional 884 shares during the period. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Leggett & Platt in the 3rd quarter valued at approximately $29,000. Point72 Hong Kong Ltd bought a new position in Leggett & Platt during the 3rd quarter worth approximately $37,000. nVerses Capital LLC acquired a new position in Leggett & Platt during the third quarter valued at approximately $41,000. Finally, Brooklyn Investment Group bought a new stake in Leggett & Platt in the third quarter valued at approximately $44,000. Institutional investors and hedge funds own 64.23% of the company’s stock.

Leggett & Platt Stock Down 6.2 %

Leggett & Platt stock opened at $10.13 on Thursday. The company has a 50 day moving average of $12.22 and a 200-day moving average of $12.31. The company has a quick ratio of 0.84, a current ratio of 1.48 and a debt-to-equity ratio of 2.13. Leggett & Platt, Incorporated has a twelve month low of $10.07 and a twelve month high of $27.01. The stock has a market capitalization of $1.36 billion, a PE ratio of -1.69 and a beta of 1.07.

Leggett & Platt (NYSE:LEG) last released its earnings results on Monday, October 28th. The company reported $0.32 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.33 by ($0.01). Leggett & Platt had a positive return on equity of 14.99% and a negative net margin of 18.53%. The firm had revenue of $1.10 billion for the quarter, compared to the consensus estimate of $1.10 billion. During the same quarter last year, the company posted $0.36 EPS. Leggett & Platt’s revenue for the quarter was down 6.3% on a year-over-year basis. On average, equities research analysts anticipate that Leggett & Platt, Incorporated will post 1.05 EPS for the current fiscal year.

Leggett & Platt Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Friday, December 13th will be given a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a yield of 1.97%. The ex-dividend date is Friday, December 13th. Leggett & Platt’s dividend payout ratio is presently -3.33%.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the stock. StockNews.com raised shares of Leggett & Platt from a “sell” rating to a “hold” rating in a research report on Wednesday, August 28th. Piper Sandler raised Leggett & Platt from an “underweight” rating to a “neutral” rating and boosted their target price for the company from $11.00 to $13.00 in a research note on Wednesday, October 30th. Four investment analysts have rated the stock with a hold rating, According to MarketBeat.com, Leggett & Platt currently has a consensus rating of “Hold” and a consensus price target of $12.67.

About Leggett & Platt

Leggett & Platt, Incorporated designs, manufactures, and sells engineered components and products in the United States, Europe, China, Canada, Mexico, and internationally. It operates through three segments: Bedding Products; Specialized Products; and Furniture, Flooring & Textile Products. The company offers steel rods, drawn wires, specialty foam chemicals and additives, innersprings, specialty foam for use in bedding and furniture, private label finished mattresses, ready-to-assemble mattress foundations, static foundations, and adjustable beds, as well as machines for producing innersprings; industrial sewing and quilting machines; mattress-packaging; and glue-drying equipment for various industrial users of steel rod and wire, manufacturers of finished bedding, bedding brands and mattress retailers, E-commerce retailers, big box retailers, department stores, and home improvement centers.