Squarepoint Ops LLC Takes $11.98 Million Position in Leggett & Platt, Incorporated $LEG

Squarepoint Ops LLC bought a new stake in shares of Leggett & Platt, Incorporated (NYSE:LEG) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 1,022,948 shares of the company’s stock, valued at approximately $11,979,000. Squarepoint Ops LLC owned about 0.75% of Leggett & Platt as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently added to or reduced their stakes in LEG. Elevation Wealth Partners LLC grew its stake in shares of Leggett & Platt by 752.8% during the second quarter. Elevation Wealth Partners LLC now owns 2,311 shares of the company’s stock valued at $27,000 after buying an additional 2,040 shares during the last quarter. Palisade Asset Management LLC bought a new position in Leggett & Platt during the 3rd quarter worth approximately $29,000. Motiv8 Investments LLC purchased a new position in Leggett & Platt in the 4th quarter worth approximately $34,000. Hantz Financial Services Inc. increased its stake in Leggett & Platt by 32.0% in the 4th quarter. Hantz Financial Services Inc. now owns 3,231 shares of the company’s stock worth $36,000 after purchasing an additional 783 shares during the period. Finally, Advisory Services Network LLC bought a new stake in Leggett & Platt in the third quarter valued at approximately $51,000. Hedge funds and other institutional investors own 64.23% of the company’s stock.

Leggett & Platt Price Performance

Shares of LEG stock opened at $9.20 on Thursday. The company has a debt-to-equity ratio of 1.38, a quick ratio of 1.53 and a current ratio of 2.35. Leggett & Platt, Incorporated has a fifty-two week low of $8.34 and a fifty-two week high of $13.00. The firm has a market cap of $1.26 billion, a P/E ratio of 5.90 and a beta of 0.73. The business’s 50 day moving average price is $10.11 and its 200-day moving average price is $10.40.

Leggett & Platt (NYSE:LEG) last announced its earnings results on Thursday, August 6th. The company reported $0.39 EPS for the quarter, beating analysts’ consensus estimates of $0.26 by $0.13. The company had revenue of $999.70 million during the quarter, compared to the consensus estimate of $982.86 million. Leggett & Platt had a return on equity of 13.31% and a net margin of 5.64%.The firm’s revenue for the quarter was down 5.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.30 earnings per share. On average, equities research analysts anticipate that Leggett & Platt, Incorporated will post 1.05 earnings per share for the current year.

Leggett & Platt Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, August 24th. Investors of record on Monday, August 10th were given a dividend of $0.05 per share. The ex-dividend date was Monday, August 10th. This represents a $0.20 annualized dividend and a dividend yield of 2.2%. Leggett & Platt’s payout ratio is currently 12.82%.

Wall Street Analyst Weigh In

Several research analysts recently commented on the stock. Zacks Research raised shares of Leggett & Platt from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, August 19th. 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. Finally, Piper Sandler cut their price target on shares of Leggett & Platt from $12.00 to $10.00 and set a “neutral” rating on the stock in a report on Wednesday, August 12th. One investment analyst has rated the stock with a Strong Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat.com, Leggett & Platt presently has an average rating of “Hold” and a consensus target price of $10.67.

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.