Inspire Advisors LLC Acquires 8,818 Shares of Leggett & Platt, Incorporated (NYSE:LEG)

Inspire Advisors LLC lifted its holdings in shares of Leggett & Platt, Incorporated (NYSE:LEG) by 6.9% during the 4th quarter, Holdings Channel reports. The firm owned 137,127 shares of the company’s stock after purchasing an additional 8,818 shares during the period. Inspire Advisors LLC’s holdings in Leggett & Platt were worth $1,316,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently made changes to their positions in LEG. Janney Montgomery Scott LLC increased its holdings in shares of Leggett & Platt by 5.3% during the third quarter. Janney Montgomery Scott LLC now owns 87,882 shares of the company’s stock worth $1,197,000 after purchasing an additional 4,442 shares during the period. State of New Jersey Common Pension Fund D bought a new position in shares of Leggett & Platt during the third quarter worth approximately $2,089,000. GSA Capital Partners LLP bought a new position in shares of Leggett & Platt during the third quarter worth approximately $456,000. Aigen Investment Management LP bought a new position in shares of Leggett & Platt during the third quarter worth approximately $284,000. Finally, Quest Partners LLC increased its holdings in shares of Leggett & Platt by 4,511,800.0% during the third quarter. Quest Partners LLC now owns 45,119 shares of the company’s stock worth $615,000 after purchasing an additional 45,118 shares during the period. 64.23% of the stock is owned by institutional investors.

Leggett & Platt Stock Performance

Shares of NYSE:LEG opened at $8.27 on Tuesday. The company’s 50 day simple moving average is $9.96 and its 200 day simple moving average is $11.43. The stock has a market capitalization of $1.11 billion, a price-to-earnings ratio of -2.22 and a beta of 1.11. 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, Incorporated has a 1 year low of $8.25 and a 1 year high of $20.74.

Leggett & Platt (NYSE:LEG) last issued its earnings results on Thursday, February 13th. The company reported $0.21 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.21. Leggett & Platt had a negative net margin of 11.67% and a positive return on equity of 17.09%. The firm had revenue of $1.06 billion for the quarter, compared to analyst estimates of $1.03 billion. As a group, research analysts predict that Leggett & Platt, Incorporated will post 1.14 EPS for the current fiscal year.

Leggett & Platt Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Friday, March 14th will be given a $0.05 dividend. The ex-dividend date is Friday, March 14th. This represents a $0.20 dividend on an annualized basis and a yield of 2.42%. Leggett & Platt’s dividend payout ratio is currently -5.36%.

Wall Street Analysts Forecast Growth

LEG has been the topic of a number of recent analyst reports. Truist Financial decreased their price objective 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 decreased their price objective on shares of Leggett & Platt from $14.00 to $12.00 and set a “neutral” rating on the stock in a research note on Tuesday, January 14th. Four research analysts have rated the stock with a hold rating, According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $12.00.

Leggett & Platt Company 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.