Dean Capital Management Has $1.22 Million Stake in Leggett & Platt, Incorporated $LEG

Dean Capital Management raised its position in Leggett & Platt, Incorporated (NYSE:LEG) by 131.9% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 110,585 shares of the company’s stock after buying an additional 62,894 shares during the quarter. Dean Capital Management’s holdings in Leggett & Platt were worth $1,216,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Motiv8 Investments LLC acquired a new stake in shares of Leggett & Platt during the 4th quarter worth approximately $34,000. Palisade Asset Management LLC acquired a new position in Leggett & Platt during the third quarter valued at approximately $29,000. Hantz Financial Services Inc. raised its position in Leggett & Platt by 32.0% during the fourth quarter. Hantz Financial Services Inc. now owns 3,231 shares of the company’s stock valued at $36,000 after purchasing an additional 783 shares in the last quarter. Advisory Services Network LLC bought a new stake in Leggett & Platt during the third quarter worth $51,000. Finally, Kingdom Financial Group LLC. bought a new stake in Leggett & Platt during the fourth quarter worth $66,000. 64.23% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on LEG shares. Wall Street Zen downgraded Leggett & Platt from a “buy” rating to a “hold” rating in a report on Saturday, February 21st. Weiss Ratings raised Leggett & Platt from a “hold (c-)” rating to a “hold (c)” rating in a report on Friday, May 15th. Zacks Research downgraded Leggett & Platt from a “hold” rating to a “strong sell” rating in a research report on Thursday, May 14th. Finally, Truist Financial reduced their price objective on Leggett & Platt from $13.00 to $11.00 and set a “hold” rating on the stock in a research note on Friday, May 8th. Four equities research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, Leggett & Platt currently has a consensus rating of “Reduce” and an average price target of $11.33.

Leggett & Platt Trading Up 1.8%

Shares of Leggett & Platt stock opened at $10.97 on Friday. The firm’s 50 day moving average is $10.48 and its 200 day moving average is $11.01. The firm has a market capitalization of $1.50 billion, a PE ratio of 6.81 and a beta of 0.74. Leggett & Platt, Incorporated has a 1 year low of $7.86 and a 1 year high of $13.00. The company has a current ratio of 2.33, a quick ratio of 1.45 and a debt-to-equity ratio of 1.44.

Leggett & Platt (NYSE:LEG) last issued its earnings results on Thursday, May 7th. The company reported $0.15 earnings per share for the quarter, missing analysts’ consensus estimates of $0.26 by ($0.11). The company had revenue of $918.20 million during the quarter, compared to analyst estimates of $946.79 million. Leggett & Platt had a net margin of 5.69% and a return on equity of 12.62%. The business’s quarterly revenue was down 10.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.24 EPS. Equities research analysts forecast that Leggett & Platt, Incorporated will post 0.9 earnings per share for the current fiscal year.

Leggett & Platt Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 15th. Stockholders of record on Monday, June 15th will be paid a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.8%. The ex-dividend date is Monday, June 15th. Leggett & Platt’s dividend payout ratio is presently 12.42%.

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.