Leggett & Platt, Incorporated (NYSE:LEG) EVP Purchases $133,900.00 in Stock

Leggett & Platt, Incorporated (NYSE:LEG) EVP Ryan Michael Kleiboeker acquired 10,000 shares of the stock in a transaction dated Thursday, May 2nd. The stock was acquired at an average price of $13.39 per share, for a total transaction of $133,900.00. Following the completion of the acquisition, the executive vice president now directly owns 41,535 shares of the company’s stock, valued at $556,153.65. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

Leggett & Platt Stock Performance

Leggett & Platt stock traded up $0.39 during mid-day trading on Friday, hitting $13.95. 3,955,941 shares of the company’s stock traded hands, compared to its average volume of 1,888,496. The company has a debt-to-equity ratio of 1.37, a current ratio of 1.57 and a quick ratio of 0.84. The firm has a 50 day simple moving average of $18.76 and a two-hundred day simple moving average of $22.15. Leggett & Platt, Incorporated has a fifty-two week low of $11.02 and a fifty-two week high of $33.11. The stock has a market cap of $1.87 billion, a price-to-earnings ratio of -12.03 and a beta of 1.19.

Leggett & Platt (NYSE:LEG) last announced its earnings results 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 11.31% and a negative net margin of 3.44%. The company had revenue of $1.10 billion for the quarter, compared to the consensus estimate of $1.11 billion. During the same period in the previous year, the firm posted $0.39 EPS. The business’s quarterly revenue was down 9.6% on a year-over-year basis. On average, research analysts expect that Leggett & Platt, Incorporated will post 1.17 EPS for the current fiscal year.

Leggett & Platt Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Friday, June 14th will be issued a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a yield of 1.43%. The ex-dividend date of this dividend is Friday, June 14th. Leggett & Platt’s dividend payout ratio is currently -158.62%.

Hedge Funds Weigh In On Leggett & Platt

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Exchange Traded Concepts LLC acquired a new position in Leggett & Platt in the third quarter valued at about $116,000. Handelsbanken Fonder AB raised its holdings in shares of Leggett & Platt by 7.8% during the 3rd quarter. Handelsbanken Fonder AB now owns 27,700 shares of the company’s stock worth $704,000 after buying an additional 2,000 shares in the last quarter. Commonwealth Equity Services LLC boosted its stake in Leggett & Platt by 2.9% in the third quarter. Commonwealth Equity Services LLC now owns 294,003 shares of the company’s stock valued at $7,471,000 after buying an additional 8,278 shares in the last quarter. Cambridge Investment Research Advisors Inc. raised its stake in Leggett & Platt by 15.8% during the third quarter. Cambridge Investment Research Advisors Inc. now owns 61,524 shares of the company’s stock worth $1,563,000 after acquiring an additional 8,372 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Leggett & Platt by 19.8% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 25,347 shares of the company’s stock worth $644,000 after acquiring an additional 4,181 shares during the last quarter. 64.23% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

LEG has been the topic of several analyst reports. StockNews.com cut shares of Leggett & Platt from a “hold” rating to a “sell” rating in a research report on Monday, March 11th. TheStreet cut Leggett & Platt from a “c” rating to a “d+” rating in a research report on Monday, March 11th. Piper Sandler lowered their price target on Leggett & Platt from $16.00 to $13.00 and set an “underweight” rating on the stock in a research report on Wednesday. The Goldman Sachs Group cut their price objective on Leggett & Platt from $20.00 to $14.00 and set a “neutral” rating for the company in a report on Thursday. Finally, Truist Financial lowered their target price on shares of Leggett & Platt from $16.00 to $13.00 and set a “hold” rating on the stock in a report on Friday. Two equities research analysts have rated the stock with a sell rating and two have assigned a hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $13.33.

Leggett & Platt Company 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.