Diversified Trust Co Invests $255,000 in Leggett & Platt, Incorporated (NYSE:LEG)

Diversified Trust Co bought a new stake in shares of Leggett & Platt, Incorporated (NYSE:LEG) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 26,569 shares of the company’s stock, valued at approximately $255,000.

A number of other large investors have also recently added to or reduced their stakes in LEG. Allspring Global Investments Holdings LLC lifted 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 acquiring an additional 884 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Leggett & Platt during the third quarter worth $29,000. Point72 Hong Kong Ltd purchased a new stake in shares of Leggett & Platt during the third quarter valued at $37,000. nVerses Capital LLC acquired a new position in shares of Leggett & Platt in the 3rd quarter valued at $41,000. Finally, Brooklyn Investment Group purchased a new position in Leggett & Platt in the 3rd quarter worth about $44,000. 64.23% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Separately, Piper Sandler raised shares of Leggett & Platt from an “underweight” rating to a “neutral” rating and upped their price objective for the company from $11.00 to $13.00 in a research note on Wednesday, October 30th. Four equities research analysts have rated the stock with a hold rating, According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $12.67.

Leggett & Platt Stock Performance

Shares of LEG stock opened at $9.66 on Friday. The company has a market capitalization of $1.30 billion, a price-to-earnings ratio of -1.61 and a beta of 1.11. Leggett & Platt, Incorporated has a 1-year low of $9.18 and a 1-year high of $26.01. 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 stock’s fifty day simple moving average is $11.15 and its 200-day simple moving average is $12.04.

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

Leggett & Platt Announces Dividend

The company also recently disclosed 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. The ex-dividend date of this dividend is Friday, December 13th. This represents a $0.20 dividend on an annualized basis and a yield of 2.07%. Leggett & Platt’s payout ratio is -3.33%.

About Leggett & Platt

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.