International Assets Investment Management LLC Takes Position in Leggett & Platt, Incorporated (NYSE:LEG)

International Assets Investment Management LLC acquired a new position in Leggett & Platt, Incorporated (NYSE:LEG) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 35,092 shares of the company’s stock, valued at approximately $337,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of LEG. PEAK6 Investments LLC purchased a new position in Leggett & Platt during the third quarter valued at approximately $1,067,000. Verition Fund Management LLC increased its holdings in shares of Leggett & Platt by 649.6% in the 3rd quarter. Verition Fund Management LLC now owns 97,675 shares of the company’s stock valued at $1,330,000 after acquiring an additional 84,645 shares during the period. FMR LLC raised its position in shares of Leggett & Platt by 3,264.5% in the 3rd quarter. FMR LLC now owns 692,884 shares of the company’s stock worth $9,437,000 after acquiring an additional 672,290 shares in the last quarter. Seven Eight Capital LP purchased a new stake in shares of Leggett & Platt during the 2nd quarter worth $1,948,000. Finally, Centiva Capital LP bought a new stake in Leggett & Platt during the third quarter valued at about $654,000. Institutional investors own 64.23% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Piper Sandler upgraded shares of Leggett & Platt from an “underweight” rating to a “neutral” rating and raised their price target for the company from $11.00 to $13.00 in a report on Wednesday, October 30th. Four investment analysts have rated the stock with a hold rating, According to data from MarketBeat, Leggett & Platt has a consensus rating of “Hold” and an average target price of $12.67.

Leggett & Platt Price Performance

Shares of NYSE LEG opened at $9.66 on Friday. Leggett & Platt, Incorporated has a 52 week low of $9.18 and a 52 week high of $26.01. The company has a quick ratio of 0.84, a current ratio of 1.48 and a debt-to-equity ratio of 2.13. The firm has a market cap of $1.30 billion, a P/E ratio of -1.61 and a beta of 1.11. The business’s 50 day moving average price is $11.15 and its 200 day moving average price is $12.04.

Leggett & Platt (NYSE:LEG) last issued its earnings results on Monday, October 28th. The company reported $0.32 earnings per share (EPS) for the quarter, missing the consensus estimate 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 business had revenue of $1.10 billion for the quarter, compared to analysts’ expectations of $1.10 billion. During the same period last year, the business earned $0.36 EPS. The company’s revenue for the quarter was down 6.3% on a year-over-year basis. On average, sell-side analysts expect that Leggett & Platt, Incorporated will post 1.05 earnings per share for the current year.

Leggett & Platt Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Friday, December 13th will be issued a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a yield of 2.07%. The ex-dividend date is Friday, December 13th. Leggett & Platt’s dividend payout ratio (DPR) is -3.33%.

Leggett & Platt Company Profile

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.