Sei Investments Co. Buys 173,306 Shares of Leggett & Platt, Incorporated $LEG

Sei Investments Co. lifted its stake in shares of Leggett & Platt, Incorporated (NYSE:LEG) by 79.4% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 391,653 shares of the company’s stock after purchasing an additional 173,306 shares during the period. Sei Investments Co.’s holdings in Leggett & Platt were worth $3,870,000 at the end of the most recent reporting period.

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

Leggett & Platt Stock Performance

Shares of Leggett & Platt stock opened at $9.68 on Friday. The firm has a fifty day moving average of $10.77 and a two-hundred day moving average of $10.88. The company has a debt-to-equity ratio of 1.44, a quick ratio of 1.45 and a current ratio of 2.33. The stock has a market capitalization of $1.32 billion, a price-to-earnings ratio of 6.01 and a beta of 0.73. Leggett & Platt, Incorporated has a 52 week low of $8.32 and a 52 week high of $13.00.

Leggett & Platt (NYSE:LEG) last posted its quarterly earnings results on Thursday, August 6th. The company reported $0.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.26 by $0.13. Leggett & Platt had a return on equity of 12.62% and a net margin of 5.69%.The business had revenue of $999.70 million for the quarter, compared to analyst estimates of $982.86 million. During the same period last year, the company earned $0.30 EPS. The firm’s revenue was down 5.5% on a year-over-year basis. As a group, equities research analysts predict that Leggett & Platt, Incorporated will post 0.9 EPS for the current year.

Leggett & Platt Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, August 24th. Shareholders of record on Monday, August 10th will be issued a dividend of $0.05 per share. The ex-dividend date is Monday, August 10th. This represents a $0.20 dividend on an annualized basis and a yield of 2.1%. Leggett & Platt’s dividend payout ratio (DPR) is 12.42%.

Analysts Set New Price Targets

Several research firms recently issued reports on LEG. Truist Financial decreased their price target on Leggett & Platt from $13.00 to $11.00 and set a “hold” rating on the stock in a report on Friday, May 8th. Zacks Research upgraded shares of Leggett & Platt from a “strong sell” rating to a “hold” rating in a research report on Monday, July 20th. Finally, Weiss Ratings cut shares of Leggett & Platt from a “hold (c)” rating to a “hold (c-)” rating in a research report on Wednesday, July 29th. Five equities research 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.