Dean Capital Management Lowers Holdings in Leggett & Platt, Incorporated $LEG

Dean Capital Management reduced its position in Leggett & Platt, Incorporated (NYSE:LEG) by 70.2% during the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 32,900 shares of the company’s stock after selling 77,685 shares during the quarter. Dean Capital Management’s holdings in Leggett & Platt were worth $325,000 as of its most recent filing with the SEC.

A number of other large investors also recently bought and sold shares of LEG. Palisade Asset Management LLC acquired a new stake in shares of Leggett & Platt in the 3rd quarter worth $29,000. Motiv8 Investments LLC purchased a new stake in shares of Leggett & Platt in the fourth quarter valued at about $34,000. Hantz Financial Services Inc. increased its stake in shares of Leggett & Platt by 32.0% during the fourth quarter. Hantz Financial Services Inc. now owns 3,231 shares of the company’s stock worth $36,000 after acquiring an additional 783 shares during the period. Advisory Services Network LLC acquired a new position in shares of Leggett & Platt during the third quarter worth about $51,000. Finally, Kingdom Financial Group LLC. purchased a new position in Leggett & Platt during the fourth quarter worth about $66,000. Hedge funds and other institutional investors own 64.23% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the stock. Truist Financial reduced their price objective on shares of Leggett & Platt from $13.00 to $11.00 and set a “hold” rating for the company in a research report on Friday, May 8th. Zacks Research raised Leggett & Platt from a “strong sell” rating to a “hold” rating in a report on Monday, July 20th. Finally, Weiss Ratings upgraded Leggett & Platt from a “hold (c-)” rating to a “hold (c)” rating in a research note on Friday, May 15th. Five research analysts have rated the stock with a Hold rating, According to MarketBeat.com, Leggett & Platt currently has a consensus rating of “Hold” and a consensus target price of $11.33.

Leggett & Platt Stock Performance

Shares of LEG opened at $11.16 on Monday. The company has a 50-day simple moving average of $10.72 and a 200-day simple moving average of $11.00. The company has a quick ratio of 1.45, a current ratio of 2.33 and a debt-to-equity ratio of 1.44. The company has a market capitalization of $1.52 billion, a PE ratio of 6.93 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.

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

Leggett & Platt Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, July 15th. Stockholders of record on Monday, June 15th were given a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.8%. The ex-dividend date was Monday, June 15th. Leggett & Platt’s dividend payout ratio (DPR) is presently 12.42%.

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.