Carmignac Gestion Acquires New Position in Leggett & Platt, Incorporated $LEG

Carmignac Gestion bought a new position in Leggett & Platt, Incorporated (NYSE:LEG) in the second quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 410,119 shares of the company’s stock, valued at approximately $4,802,000. Carmignac Gestion owned about 0.30% of Leggett & Platt at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of LEG. Elevation Wealth Partners LLC raised its position in Leggett & Platt by 752.8% in the 2nd quarter. Elevation Wealth Partners LLC now owns 2,311 shares of the company’s stock worth $27,000 after purchasing an additional 2,040 shares during the period. Motiv8 Investments LLC purchased a new stake in Leggett & Platt during the fourth quarter valued at about $34,000. Palisade Asset Management LLC bought a new position in shares of Leggett & Platt during the third quarter valued at about $29,000. Hantz Financial Services Inc. grew 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 valued at $36,000 after buying an additional 783 shares during the last quarter. Finally, Nykredit A S bought a new stake in shares of Leggett & Platt in the 2nd quarter valued at about $63,000. Hedge funds and other institutional investors own 64.23% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have commented on LEG. Zacks Research raised Leggett & Platt from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, August 19th. Piper Sandler decreased their target price on shares of Leggett & Platt from $12.00 to $10.00 and set a “neutral” rating on the stock in a research note on Wednesday, August 12th. Finally, Weiss Ratings lowered shares of Leggett & Platt from a “hold (c)” rating to a “hold (c-)” rating in a report on Wednesday, July 29th. One research analyst has rated the stock with a Strong Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat, Leggett & Platt presently has a consensus rating of “Hold” and a consensus price target of $10.67.

Leggett & Platt Stock Performance

Shares of LEG remained flat at $9.20 during mid-day trading on Tuesday. The company has a debt-to-equity ratio of 1.38, a current ratio of 2.35 and a quick ratio of 1.53. The stock has a market cap of $1.26 billion, a price-to-earnings ratio of 5.90 and a beta of 0.73. The firm has a 50-day moving average price of $10.21 and a two-hundred day moving average price of $10.44. Leggett & Platt, Incorporated has a one year low of $8.34 and a one year high of $13.00.

Leggett & Platt (NYSE:LEG) last issued its quarterly earnings data on Thursday, August 6th. The company reported $0.39 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.26 by $0.13. Leggett & Platt had a net margin of 5.64% and a return on equity of 13.31%. The business had revenue of $999.70 million for the quarter, compared to the consensus estimate of $982.86 million. During the same period in the previous year, the firm earned $0.30 EPS. The company’s quarterly revenue was down 5.5% compared to the same quarter last year. As a group, equities analysts predict that Leggett & Platt, Incorporated will post 1.05 earnings per share for the current year.

Leggett & Platt Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, August 24th. Shareholders of record on Monday, August 10th were issued a $0.05 dividend. The ex-dividend date was Monday, August 10th. This represents a $0.20 annualized dividend and a yield of 2.2%. Leggett & Platt’s dividend payout ratio (DPR) is 12.82%.

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.