Stifel Financial Corp Boosts Holdings in Leggett & Platt, Incorporated (NYSE:LEG)

Stifel Financial Corp grew its stake in shares of Leggett & Platt, Incorporated (NYSE:LEGFree Report) by 3.9% in the third quarter, HoldingsChannel reports. The fund owned 84,996 shares of the company’s stock after buying an additional 3,202 shares during the quarter. Stifel Financial Corp’s holdings in Leggett & Platt were worth $1,158,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of LEG. Allspring Global Investments Holdings LLC grew its holdings in Leggett & Platt by 76.3% in the third quarter. Allspring Global Investments Holdings LLC now owns 2,043 shares of the company’s stock valued at $28,000 after purchasing an additional 884 shares during the period. Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of Leggett & Platt in the 3rd quarter valued at $29,000. Point72 Hong Kong Ltd purchased a new stake in shares of Leggett & Platt during the 3rd quarter valued at $37,000. Fifth Third Bancorp increased its holdings in shares of Leggett & Platt by 367.8% during the 2nd quarter. Fifth Third Bancorp now owns 3,396 shares of the company’s stock worth $39,000 after buying an additional 2,670 shares during the last quarter. Finally, nVerses Capital LLC purchased a new position in shares of Leggett & Platt in the 3rd quarter worth $41,000. 64.23% of the stock is currently owned by hedge funds and other institutional investors.

Leggett & Platt Stock Performance

Shares of LEG stock opened at $9.69 on Monday. The company has a current ratio of 1.48, a quick ratio of 0.84 and a debt-to-equity ratio of 2.13. The company has a market cap of $1.30 billion, a PE ratio of -1.61 and a beta of 1.07. The company’s fifty day simple moving average is $12.05 and its 200-day simple moving average is $12.26. Leggett & Platt, Incorporated has a 52 week low of $9.64 and a 52 week high of $26.91.

Leggett & Platt (NYSE:LEGGet Free Report) last released its quarterly earnings data on Monday, October 28th. The company reported $0.32 EPS for the quarter, missing the consensus estimate of $0.33 by ($0.01). Leggett & Platt had a negative net margin of 18.53% and a positive return on equity of 14.99%. The company had revenue of $1.10 billion during the quarter, compared to analysts’ expectations of $1.10 billion. During the same period last year, the business earned $0.36 earnings per share. The company’s revenue for the quarter was down 6.3% compared to the same quarter last year. As a group, equities research analysts anticipate that Leggett & Platt, Incorporated will post 1.05 EPS for the current year.

Leggett & Platt Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Friday, December 13th will be given a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a yield of 2.06%. The ex-dividend date is Friday, December 13th. Leggett & Platt’s dividend payout ratio (DPR) is presently -3.33%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on LEG shares. Piper Sandler raised Leggett & Platt from an “underweight” rating to a “neutral” rating and boosted their price target for the company from $11.00 to $13.00 in a research report on Wednesday, October 30th. StockNews.com raised Leggett & Platt from a “sell” rating to a “hold” rating in a research note on Wednesday, August 28th. Four investment analysts have rated the stock with a hold rating, According to data from MarketBeat, Leggett & Platt has an average rating of “Hold” and a consensus target price of $12.67.

Check Out Our Latest Stock Analysis on LEG

Leggett & Platt Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Leggett & Platt (NYSE:LEG)

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