1,022,948 Shares in Leggett & Platt, Incorporated $LEG Bought by Squarepoint Ops LLC

Squarepoint Ops LLC acquired a new position in Leggett & Platt, Incorporated (NYSE:LEG) in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 1,022,948 shares of the company’s stock, valued at approximately $11,979,000.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. BlackRock Inc. bought a new stake in Leggett & Platt during the second quarter worth about $265,194,000. Deutsche Bank AG bought a new position in shares of Leggett & Platt during the second quarter valued at approximately $2,812,000. Empowered Funds LLC bought a new position in shares of Leggett & Platt during the second quarter valued at approximately $3,168,000. Bank of America Corp DE increased its stake in shares of Leggett & Platt by 11.1% during the first quarter. Bank of America Corp DE now owns 1,340,918 shares of the company’s stock valued at $13,248,000 after purchasing an additional 134,091 shares in the last quarter. Finally, Sei Investments Co. lifted its holdings in shares of Leggett & Platt by 79.4% during the first quarter. Sei Investments Co. now owns 391,653 shares of the company’s stock valued at $3,870,000 after purchasing an additional 173,306 shares during the last quarter. Hedge funds and other institutional investors own 64.23% of the company’s stock.

Analysts Set New Price Targets

LEG has been the topic of a number of analyst reports. Weiss Ratings cut Leggett & Platt from a “hold (c)” rating to a “hold (c-)” rating in a research report on Wednesday, July 29th. Zacks Research raised Leggett & Platt from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, August 19th. Finally, Piper Sandler lowered their price objective on Leggett & Platt from $12.00 to $10.00 and set a “neutral” rating for the company in a research note on Wednesday, August 12th. One analyst has rated the stock with a Strong Buy rating and four have given a Hold rating to the stock. According to MarketBeat, Leggett & Platt currently has a consensus rating of “Hold” and an average target price of $10.67.

Leggett & Platt Stock Performance

Shares of Leggett & Platt stock opened at $9.20 on Thursday. Leggett & Platt, Incorporated has a 1 year low of $8.34 and a 1 year high of $13.00. The firm’s 50-day moving average is $10.11 and its 200 day moving average is $10.40. 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 company has a debt-to-equity ratio of 1.38, a current ratio of 2.35 and a quick ratio of 1.53.

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

Leggett & Platt Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, August 24th. Investors of record on Monday, August 10th were given a dividend of $0.05 per share. The ex-dividend date of this dividend was Monday, August 10th. This represents a $0.20 annualized dividend and a dividend 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.