Rangeley Capital LLC Has $2.10 Million Stock Holdings in Leggett & Platt, Incorporated $LEG

Rangeley Capital LLC increased its holdings in shares of Leggett & Platt, Incorporated (NYSE:LEG) by 56.7% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 213,000 shares of the company’s stock after buying an additional 77,070 shares during the quarter. Leggett & Platt accounts for approximately 1.9% of Rangeley Capital LLC’s holdings, making the stock its 11th biggest position. Rangeley Capital LLC owned approximately 0.16% of Leggett & Platt worth $2,104,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of LEG. Royal Bank of Canada grew its stake in Leggett & Platt by 59.5% during the 1st quarter. Royal Bank of Canada now owns 47,054 shares of the company’s stock valued at $372,000 after acquiring an additional 17,561 shares in the last quarter. Jones Financial Companies Lllp boosted its holdings in shares of Leggett & Platt by 8.4% during the first quarter. Jones Financial Companies Lllp now owns 14,661 shares of the company’s stock worth $116,000 after purchasing an additional 1,132 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in shares of Leggett & Platt by 3.0% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 454,096 shares of the company’s stock worth $3,592,000 after purchasing an additional 13,187 shares during the period. Jane Street Group LLC grew its position in Leggett & Platt by 36.3% during the first quarter. Jane Street Group LLC now owns 1,175,452 shares of the company’s stock valued at $9,298,000 after purchasing an additional 312,840 shares in the last quarter. Finally, Acadian Asset Management LLC grew its position in Leggett & Platt by 113.5% during the first quarter. Acadian Asset Management LLC now owns 109,638 shares of the company’s stock valued at $866,000 after purchasing an additional 58,292 shares in the last quarter. 64.23% of the stock is owned by institutional investors and hedge funds.

Leggett & Platt Trading Up 0.0%

NYSE:LEG opened at $11.16 on Monday. Leggett & Platt, Incorporated has a 12 month low of $7.86 and a 12 month high of $13.00. The firm has a market cap of $1.52 billion, a price-to-earnings ratio of 6.93 and a beta of 0.71. The company has a quick ratio of 1.45, a current ratio of 2.33 and a debt-to-equity ratio of 1.44. The company’s 50 day moving average is $10.72 and its 200-day moving average is $11.00.

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

Leggett & Platt Dividend Announcement

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

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on LEG shares. Weiss Ratings upgraded shares of Leggett & Platt from a “hold (c-)” rating to a “hold (c)” rating in a research report on Friday, May 15th. Zacks Research upgraded shares of Leggett & Platt from a “strong sell” rating to a “hold” rating in a report on Monday, July 20th. Finally, Truist Financial dropped their price target on shares of Leggett & Platt from $13.00 to $11.00 and set a “hold” rating on the stock in a research note on Friday, May 8th. Five investment analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $11.33.

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.