Insight Folios Inc Has $205,000 Position in Leggett & Platt, Incorporated (NYSE:LEG)

Insight Folios Inc increased its position in shares of Leggett & Platt, Incorporated (NYSE:LEG) by 14.1% during the first quarter, Holdings Channel reports. The institutional investor owned 10,693 shares of the company’s stock after purchasing an additional 1,319 shares during the quarter. Insight Folios Inc’s holdings in Leggett & Platt were worth $205,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in LEG. Ramirez Asset Management Inc. acquired a new stake in shares of Leggett & Platt during the 3rd quarter worth approximately $25,000. Fifth Third Bancorp boosted its stake in Leggett & Platt by 253.3% during the fourth quarter. Fifth Third Bancorp now owns 1,007 shares of the company’s stock worth $26,000 after buying an additional 722 shares in the last quarter. GAMMA Investing LLC bought a new stake in Leggett & Platt in the 4th quarter valued at $40,000. ORG Partners LLC acquired a new position in shares of Leggett & Platt in the 4th quarter valued at $49,000. Finally, Quadrant Capital Group LLC lifted its holdings in shares of Leggett & Platt by 56.2% during the 4th quarter. Quadrant Capital Group LLC now owns 2,130 shares of the company’s stock worth $56,000 after acquiring an additional 766 shares during the period. 64.23% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Leggett & Platt

In related news, CFO Benjamin Michael Burns bought 3,850 shares of the company’s stock in a transaction on Thursday, June 6th. The stock was bought at an average cost of $12.20 per share, with a total value of $46,970.00. Following the completion of the purchase, the chief financial officer now owns 81,362 shares in the company, valued at approximately $992,616.40. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, CFO Benjamin Michael Burns bought 3,850 shares of the company’s stock in a transaction dated Thursday, June 6th. The stock was bought at an average price of $12.20 per share, for a total transaction of $46,970.00. Following the completion of the transaction, the chief financial officer now directly owns 81,362 shares in the company, valued at approximately $992,616.40. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Ryan Michael Kleiboeker purchased 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, May 2nd. The stock was purchased at an average price of $13.39 per share, for a total transaction of $133,900.00. Following the acquisition, the executive vice president now owns 41,535 shares of the company’s stock, valued at $556,153.65. The disclosure for this purchase can be found here. Insiders have bought a total of 65,635 shares of company stock worth $773,447 over the last ninety days. Corporate insiders own 1.92% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on LEG shares. The Goldman Sachs Group dropped their price target on shares of Leggett & Platt from $20.00 to $14.00 and set a “neutral” rating for the company in a research report on Thursday, May 2nd. Truist Financial dropped their target price on Leggett & Platt from $13.00 to $11.00 and set a “hold” rating for the company in a report on Thursday, June 27th. StockNews.com raised Leggett & Platt from a “sell” rating to a “hold” rating in a research note on Friday, June 28th. Piper Sandler dropped their price objective on Leggett & Platt from $16.00 to $13.00 and set an “underweight” rating for the company in a research note on Wednesday, May 1st. Finally, TheStreet downgraded shares of Leggett & Platt from a “c” rating to a “d+” rating in a research note on Monday, March 11th. One research analyst has rated the stock with a sell rating and three have issued a hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $12.67.

Leggett & Platt Price Performance

NYSE:LEG opened at $11.16 on Friday. The firm has a market cap of $1.50 billion, a PE ratio of -9.62 and a beta of 1.08. Leggett & Platt, Incorporated has a 12 month low of $10.11 and a 12 month high of $31.14. The company has a quick ratio of 0.89, a current ratio of 1.57 and a debt-to-equity ratio of 1.37. The company’s 50-day moving average price is $12.21 and its two-hundred day moving average price is $18.32.

Leggett & Platt (NYSE:LEG) last released its quarterly earnings results on Tuesday, April 30th. The company reported $0.23 EPS for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.01). The firm had revenue of $1.10 billion during the quarter, compared to analyst estimates of $1.11 billion. Leggett & Platt had a negative net margin of 3.44% and a positive return on equity of 11.31%. Leggett & Platt’s quarterly revenue was down 9.6% on a year-over-year basis. During the same quarter last year, the firm earned $0.39 earnings per share. On average, equities analysts anticipate that Leggett & Platt, Incorporated will post 1.13 EPS for the current fiscal year.

Leggett & Platt Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Friday, June 14th will be given a $0.05 dividend. The ex-dividend date of this dividend is Friday, June 14th. This represents a $0.20 dividend on an annualized basis and a yield of 1.79%. Leggett & Platt’s dividend payout ratio (DPR) is presently -17.24%.

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.