60,100 Shares in Leggett & Platt, Incorporated $LEG Bought by Louisiana State Employees Retirement System

Louisiana State Employees Retirement System purchased a new stake in shares of Leggett & Platt, Incorporated (NYSE:LEG) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 60,100 shares of the company’s stock, valued at approximately $594,000.

Other institutional investors have also made changes to their positions in the company. Hantz Financial Services Inc. boosted its stake in Leggett & Platt by 32.0% during the 4th quarter. Hantz Financial Services Inc. now owns 3,231 shares of the company’s stock valued at $36,000 after purchasing an additional 783 shares during the period. Optimize Financial Inc boosted its position in shares of Leggett & Platt by 1.5% in the fourth quarter. Optimize Financial Inc now owns 60,507 shares of the company’s stock valued at $666,000 after acquiring an additional 868 shares during the period. Jones Financial Companies Lllp grew its stake in shares of Leggett & Platt by 8.4% in the first quarter. Jones Financial Companies Lllp now owns 14,661 shares of the company’s stock worth $116,000 after acquiring an additional 1,132 shares during the last quarter. Nisa Investment Advisors LLC raised its stake in Leggett & Platt by 12.6% during the 4th quarter. Nisa Investment Advisors LLC now owns 10,271 shares of the company’s stock valued at $113,000 after purchasing an additional 1,152 shares during the last quarter. Finally, State of Alaska Department of Revenue raised its stake in Leggett & Platt by 1.8% during the 4th quarter. State of Alaska Department of Revenue now owns 76,948 shares of the company’s stock valued at $845,000 after purchasing an additional 1,338 shares during the last quarter. 64.23% of the stock is currently owned by institutional investors.

Leggett & Platt Price Performance

NYSE:LEG opened at $11.26 on Wednesday. The company has a 50-day moving average of $10.56 and a 200-day moving average of $11.01. The company has a market capitalization of $1.54 billion, a price-to-earnings ratio of 6.99 and a beta of 0.71. Leggett & Platt, Incorporated has a 52 week low of $7.86 and a 52 week high of $13.00. The company has a debt-to-equity ratio of 1.44, a quick ratio of 1.45 and a current ratio of 2.33.

Leggett & Platt (NYSE:LEG) last issued its earnings results on Thursday, May 7th. The company reported $0.15 earnings per share for the quarter, missing the consensus estimate of $0.26 by ($0.11). Leggett & Platt had a net margin of 5.69% and a return on equity of 12.62%. The business had revenue of $918.20 million for the quarter, compared to analyst estimates of $946.79 million. During the same quarter last year, the firm posted $0.24 earnings per share. Leggett & Platt’s revenue was down 10.2% on a year-over-year basis. As a group, equities research analysts anticipate that Leggett & Platt, Incorporated will post 0.9 earnings per share for the current fiscal year.

Leggett & Platt Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 15th. Stockholders of record on Monday, June 15th will be paid a $0.05 dividend. This represents a $0.20 annualized dividend and a dividend yield of 1.8%. The ex-dividend date is Monday, June 15th. Leggett & Platt’s dividend payout ratio is currently 12.42%.

Analyst Ratings Changes

LEG has been the topic of several research analyst reports. Truist Financial decreased their price target on shares of Leggett & Platt from $13.00 to $11.00 and set a “hold” rating on the stock in a research report on Friday, May 8th. Weiss Ratings upgraded Leggett & Platt from a “hold (c-)” rating to a “hold (c)” rating in a research report on Friday, May 15th. Finally, Zacks Research lowered Leggett & Platt from a “hold” rating to a “strong sell” rating in a report on Thursday, May 14th. Four equities research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of “Reduce” and a consensus price target of $11.33.

Leggett & Platt 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.