Pallas Capital Advisors LLC Invests $99,000 in Leggett & Platt, Incorporated (NYSE:LEG)

Pallas Capital Advisors LLC acquired a new position in shares of Leggett & Platt, Incorporated (NYSE:LEG) in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 10,298 shares of the company’s stock, valued at approximately $99,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Allspring Global Investments Holdings LLC grew its position in shares of Leggett & Platt by 76.3% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 2,043 shares of the company’s stock valued at $28,000 after buying an additional 884 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new position in Leggett & Platt in the third quarter valued at approximately $29,000. Point72 Hong Kong Ltd bought a new position in shares of Leggett & Platt during the third quarter valued at approximately $37,000. nVerses Capital LLC acquired a new stake in shares of Leggett & Platt during the 3rd quarter worth approximately $41,000. Finally, Brooklyn Investment Group bought a new stake in shares of Leggett & Platt in the 3rd quarter worth approximately $44,000. 64.23% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts have weighed in on the company. The Goldman Sachs Group dropped their target price on Leggett & Platt from $14.00 to $12.00 and set a “neutral” rating on the stock in a research report on Tuesday. Piper Sandler upgraded shares of Leggett & Platt from an “underweight” rating to a “neutral” rating and upped their price target for the stock from $11.00 to $13.00 in a research report on Wednesday, October 30th. Four investment analysts have rated the stock with a hold rating, Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $12.67.

Leggett & Platt Stock Up 3.6 %

LEG opened at $10.72 on Thursday. The stock’s 50 day moving average price is $11.03 and its 200 day moving average price is $12.02. The company has a debt-to-equity ratio of 2.13, a current ratio of 1.48 and a quick ratio of 0.84. The stock has a market cap of $1.44 billion, a P/E ratio of -1.78 and a beta of 1.11. Leggett & Platt, Incorporated has a 12 month low of $9.18 and a 12 month high of $25.29.

Leggett & Platt (NYSE:LEG) last released its earnings results on Monday, October 28th. The company reported $0.32 EPS for the quarter, missing the consensus estimate of $0.33 by ($0.01). The company had revenue of $1.10 billion for the quarter, compared to analyst estimates of $1.10 billion. Leggett & Platt had a negative net margin of 18.53% and a positive return on equity of 14.99%. The firm’s quarterly revenue was down 6.3% on a year-over-year basis. During the same period in the previous year, the business posted $0.36 EPS. As a group, research analysts predict that Leggett & Platt, Incorporated will post 1.05 earnings per share for the current year.

Leggett & Platt Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Friday, December 13th were paid a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a dividend yield of 1.87%. The ex-dividend date of this dividend was Friday, December 13th. Leggett & Platt’s dividend payout ratio is presently -3.33%.

Leggett & Platt Profile

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.