Quantbot Technologies LP Purchases New Position in Leggett & Platt, Incorporated $LEG

Quantbot Technologies LP bought a new position in Leggett & Platt, Incorporated (NYSE:LEG) in the third quarter, HoldingsChannel reports. The fund bought 69,959 shares of the company’s stock, valued at approximately $621,000.

Several other large investors have also bought and sold shares of the stock. Marshall Wace LLP raised its position in shares of Leggett & Platt by 35.8% during the second quarter. Marshall Wace LLP now owns 3,380,980 shares of the company’s stock worth $30,158,000 after acquiring an additional 890,577 shares during the last quarter. Franklin Resources Inc. bought a new position in Leggett & Platt in the 2nd quarter valued at about $2,137,000. Prudential Financial Inc. lifted its stake in Leggett & Platt by 202.7% during the 2nd quarter. Prudential Financial Inc. now owns 402,232 shares of the company’s stock valued at $3,588,000 after acquiring an additional 269,347 shares in the last quarter. Exchange Traded Concepts LLC purchased a new position in shares of Leggett & Platt in the 3rd quarter worth approximately $1,093,000. Finally, Norges Bank purchased a new position in shares of Leggett & Platt in the 2nd quarter worth about $10,706,000. 64.23% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research analysts recently commented on LEG shares. Piper Sandler raised their price objective on shares of Leggett & Platt from $10.00 to $12.00 and gave the stock a “neutral” rating in a report on Thursday, December 11th. Wall Street Zen cut Leggett & Platt from a “buy” rating to a “hold” rating in a research note on Saturday, February 21st. Weiss Ratings restated a “hold (c-)” rating on shares of Leggett & Platt in a report on Monday, December 29th. Finally, Zacks Research downgraded Leggett & Platt from a “strong-buy” rating to a “hold” rating in a report on Friday, December 5th. Five research analysts have rated the stock with a Hold rating, According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $11.67.

Leggett & Platt Stock Down 3.5%

LEG stock opened at $10.64 on Monday. The company has a debt-to-equity ratio of 1.46, a current ratio of 2.25 and a quick ratio of 1.45. The stock has a market capitalization of $1.45 billion, a P/E ratio of 6.30 and a beta of 0.71. The business has a fifty day moving average price of $11.88 and a 200-day moving average price of $10.47. Leggett & Platt, Incorporated has a 1-year low of $6.47 and a 1-year high of $13.00.

Leggett & Platt (NYSE:LEG) last announced its quarterly earnings results on Wednesday, February 11th. The company reported $0.22 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.22. The firm had revenue of $938.60 million for the quarter, compared to the consensus estimate of $938.74 million. Leggett & Platt had a net margin of 5.80% and a return on equity of 15.00%. The business’s quarterly revenue was down 11.2% compared to the same quarter last year. During the same quarter last year, the firm posted $0.21 EPS. Equities analysts forecast that Leggett & Platt, Incorporated will post 1.14 earnings per share for the current fiscal year.

Leggett & Platt Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 15th. Shareholders of record on Friday, March 13th will be issued a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a yield of 1.9%. The ex-dividend date of this dividend is Friday, March 13th. Leggett & Platt’s payout ratio is currently 11.83%.

Leggett & Platt Company 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.