Hexagon Capital Partners LLC Raises Stock Holdings in Leggett & Platt, Incorporated (NYSE:LEG)

Hexagon Capital Partners LLC increased its position in Leggett & Platt, Incorporated (NYSE:LEG) by 66.3% during the 4th quarter, Holdings Channel.com reports. The firm owned 3,209 shares of the company’s stock after purchasing an additional 1,279 shares during the period. Hexagon Capital Partners LLC’s holdings in Leggett & Platt were worth $84,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its stake in shares of Leggett & Platt by 0.9% in the third quarter. Vanguard Group Inc. now owns 12,946,981 shares of the company’s stock worth $328,983,000 after acquiring an additional 117,499 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its position in shares of Leggett & Platt by 7.0% during the third quarter. Charles Schwab Investment Management Inc. now owns 6,231,637 shares of the company’s stock valued at $154,888,000 after buying an additional 405,363 shares during the last quarter. Pacer Advisors Inc. boosted its position in shares of Leggett & Platt by 68.5% during the fourth quarter. Pacer Advisors Inc. now owns 1,934,905 shares of the company’s stock valued at $50,636,000 after buying an additional 786,297 shares during the last quarter. Invesco Ltd. boosted its position in shares of Leggett & Platt by 45.7% during the third quarter. Invesco Ltd. now owns 1,699,580 shares of the company’s stock valued at $43,186,000 after buying an additional 532,780 shares during the last quarter. Finally, Qube Research & Technologies Ltd boosted its position in shares of Leggett & Platt by 329.6% during the third quarter. Qube Research & Technologies Ltd now owns 834,221 shares of the company’s stock valued at $21,198,000 after buying an additional 640,015 shares during the last quarter. 64.23% of the stock is owned by hedge funds and other institutional investors.

Leggett & Platt Price Performance

Shares of NYSE:LEG opened at $13.27 on Thursday. The company has a debt-to-equity ratio of 1.26, a current ratio of 1.49 and a quick ratio of 0.84. The stock’s 50-day simple moving average is $18.90 and its two-hundred day simple moving average is $22.21. Leggett & Platt, Incorporated has a 52-week low of $11.02 and a 52-week high of $33.50.

Leggett & Platt (NYSE:LEG) last posted its quarterly earnings data on Tuesday, April 30th. The company reported $0.23 EPS for the quarter, missing the consensus estimate of $0.24 by ($0.01). Leggett & Platt had a positive return on equity of 10.84% and a negative net margin of 3.44%. The company had revenue of $1.10 billion during the quarter, compared to the consensus estimate of $1.11 billion. During the same period last year, the business earned $0.39 EPS. The firm’s quarterly revenue was down 9.6% compared to the same quarter last year. As a group, equities analysts forecast that Leggett & Platt, Incorporated will post 1.17 earnings per share for the current year.

Leggett & Platt Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Friday, June 14th will be paid a $0.05 dividend. This represents a $0.20 annualized dividend and a dividend yield of 1.51%. The ex-dividend date is Friday, June 14th. Leggett & Platt’s dividend payout ratio (DPR) is currently -158.62%.

Analyst Ratings Changes

Several research firms recently commented on LEG. TheStreet cut Leggett & Platt from a “c” rating to a “d+” rating in a research report on Monday, March 11th. Piper Sandler dropped their price objective on Leggett & Platt from $16.00 to $13.00 and set an “underweight” rating on the stock in a research report on Wednesday. StockNews.com cut Leggett & Platt from a “hold” rating to a “sell” rating in a research report on Monday, March 11th. Finally, Truist Financial dropped their target price on Leggett & Platt from $18.00 to $16.00 and set a “hold” rating on the stock in a research report on Tuesday, March 26th. Two analysts have rated the stock with a sell rating and two have issued a hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $17.67.

About Leggett & Platt

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.