18,455 Shares in Leggett & Platt, Incorporated (NYSE:LEG) Purchased by Ballentine Partners LLC

Ballentine Partners LLC purchased a new position in Leggett & Platt, Incorporated (NYSE:LEG) in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 18,455 shares of the company’s stock, valued at approximately $251,000.

Several other institutional investors also recently modified their holdings of the business. Abich Financial Wealth Management LLC grew its position in Leggett & Platt by 93.2% during the 1st quarter. Abich Financial Wealth Management LLC now owns 1,930 shares of the company’s stock valued at $37,000 after purchasing an additional 931 shares during the last quarter. Allspring Global Investments Holdings LLC grew its position in Leggett & Platt by 76.3% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 2,043 shares of the company’s stock valued at $28,000 after purchasing an additional 884 shares during the last quarter. nVerses Capital LLC purchased a new stake in Leggett & Platt during the 3rd quarter valued at about $41,000. CVA Family Office LLC purchased a new stake in Leggett & Platt during the 2nd quarter valued at about $36,000. Finally, Fifth Third Bancorp grew its position in Leggett & Platt by 367.8% during the 2nd quarter. Fifth Third Bancorp now owns 3,396 shares of the company’s stock valued at $39,000 after purchasing an additional 2,670 shares during the last quarter. 64.23% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several analysts recently commented on LEG shares. StockNews.com raised shares of Leggett & Platt from a “sell” rating to a “hold” rating in a research report on Wednesday, August 28th. The Goldman Sachs Group dropped their price target on shares of Leggett & Platt from $14.00 to $12.00 and set a “neutral” rating on the stock in a report on Wednesday, July 10th. Finally, Truist Financial lifted their price target on shares of Leggett & Platt from $11.00 to $13.00 and gave the stock a “hold” rating in a research note on Monday, August 5th. One equities research analyst has rated the stock with a sell rating and three have issued a hold rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $12.67.

Leggett & Platt Stock Up 4.0 %

Leggett & Platt stock opened at $12.66 on Wednesday. The stock has a market cap of $1.70 billion, a PE ratio of -10.91 and a beta of 1.07. The company has a debt-to-equity ratio of 2.55, a quick ratio of 0.88 and a current ratio of 1.53. Leggett & Platt, Incorporated has a one year low of $10.11 and a one year high of $27.58. The stock has a fifty day moving average of $12.79 and a 200 day moving average of $12.86.

Leggett & Platt (NYSE:LEG) last posted its quarterly earnings data on Monday, October 28th. The company reported $0.32 EPS for the quarter, missing analysts’ consensus estimates of $0.33 by ($0.01). The firm had revenue of $1.10 billion for the quarter, compared to analysts’ expectations of $1.10 billion. Leggett & Platt had a negative net margin of 18.05% and a positive return on equity of 12.65%. The firm’s revenue was down 6.3% compared to the same quarter last year. During the same quarter last year, the company posted $0.36 EPS. As a group, sell-side analysts predict that Leggett & Platt, Incorporated will post 1.14 EPS for the current year.

Leggett & Platt Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Friday, September 13th were given a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a yield of 1.58%. The ex-dividend date was Friday, September 13th. Leggett & Platt’s dividend payout ratio (DPR) is presently -17.24%.

Leggett & Platt Profile

Leggett & Platt, Incorporated designs, manufactures, and sells engineered components and products in the United States, Europe, China, Canada, Mexico, and internationally. It operates through three segments: Bedding Products; Specialized Products; and Furniture, Flooring & Textile Products. The company offers steel rods, drawn wires, specialty foam chemicals and additives, innersprings, specialty foam for use in bedding and furniture, private label finished mattresses, ready-to-assemble mattress foundations, static foundations, and adjustable beds, as well as machines for producing innersprings; industrial sewing and quilting machines; mattress-packaging; and glue-drying equipment for various industrial users of steel rod and wire, manufacturers of finished bedding, bedding brands and mattress retailers, E-commerce retailers, big box retailers, department stores, and home improvement centers.