Arkadios Wealth Advisors Grows Stock Holdings in Leggett & Platt, Incorporated (NYSE:LEG)

Arkadios Wealth Advisors grew its holdings in shares of Leggett & Platt, Incorporated (NYSE:LEG – Get Rating) by 24.1% in the 4th quarter, Holdings Channel.com reports. The firm owned 54,067 shares of the company’s stock after acquiring an additional 10,498 shares during the period. Arkadios Wealth Advisors’ holdings in Leggett & Platt were worth $1,743,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in LEG. Neo Ivy Capital Management bought a new stake in Leggett & Platt in the 3rd quarter worth approximately $26,000. Ten Capital Wealth Advisors LLC purchased a new position in shares of Leggett & Platt during the 3rd quarter valued at $28,000. Ronald Blue Trust Inc. purchased a new position in shares of Leggett & Platt during the 2nd quarter valued at $43,000. Accurate Wealth Management LLC purchased a new position in shares of Leggett & Platt during the 4th quarter valued at $45,000. Finally, Geneos Wealth Management Inc. lifted its stake in shares of Leggett & Platt by 18.9% during the 1st quarter. Geneos Wealth Management Inc. now owns 1,915 shares of the company’s stock valued at $66,000 after buying an additional 305 shares in the last quarter. Institutional investors own 69.42% of the company’s stock.

Analysts Set New Price Targets

Several analysts have commented on LEG shares. Piper Sandler decreased their price target on shares of Leggett & Platt from $24.00 to $21.00 and set an “underweight” rating on the stock in a research note on Wednesday, February 8th. StockNews.com initiated coverage on shares of Leggett & Platt in a research report on Thursday. They set a “sell” rating on the stock. Two analysts have rated the stock with a sell rating, one has assigned a hold rating and one has issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $32.00.

Leggett & Platt Price Performance

NYSE LEG opened at $30.23 on Friday. Leggett & Platt, Incorporated has a 52-week low of $30.16 and a 52-week high of $41.94. The firm’s 50 day moving average price is $34.29 and its 200-day moving average price is $34.30. The company has a debt-to-equity ratio of 1.26, a quick ratio of 1.09 and a current ratio of 2.02. The company has a market cap of $4.02 billion, a PE ratio of 13.32 and a beta of 1.30.

Leggett & Platt (NYSE:LEG – Get Rating) last posted its quarterly earnings results on Monday, February 6th. The company reported $0.39 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.09). The company had revenue of $1.20 billion during the quarter, compared to analysts’ expectations of $1.24 billion. Leggett & Platt had a return on equity of 19.09% and a net margin of 6.02%. The company’s quarterly revenue was down 10.0% on a year-over-year basis. During the same period in the prior year, the business posted $0.77 EPS. Sell-side analysts forecast that Leggett & Platt, Incorporated will post 1.58 EPS for the current fiscal year.

Leggett & Platt Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 14th. Stockholders of record on Wednesday, March 15th will be paid a $0.44 dividend. The ex-dividend date of this dividend is Tuesday, March 14th. This represents a $1.76 dividend on an annualized basis and a dividend yield of 5.82%. Leggett & Platt’s payout ratio is currently 77.53%.

Leggett & Platt Profile

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Leggett & Platt, Inc engages in the manufacture and distribution of furniture and engineered components and products among homes, offices, automobiles, and commercial aircraft. It operates through the following segments: Bedding, Flooring, Furniture & Textile, and Specialized Products. The Bedding Products segment supplies products and components for the home, including mattress springs and specialty foam, as well as adjustable beds, bedding machinery, steel rod, and drawn wire.