Leggett & Platt, Incorporated (NYSE:LEG) Shares Acquired by Y Intercept Hong Kong Ltd

Y Intercept Hong Kong Ltd raised its holdings in shares of Leggett & Platt, Incorporated (NYSE:LEG) by 30.0% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 64,566 shares of the company’s stock after purchasing an additional 14,909 shares during the period. Y Intercept Hong Kong Ltd’s holdings in Leggett & Platt were worth $879,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. CWM LLC raised its stake in Leggett & Platt by 385.8% during the second quarter. CWM LLC now owns 22,931 shares of the company’s stock worth $263,000 after acquiring an additional 18,211 shares during the period. SG Americas Securities LLC increased its holdings in shares of Leggett & Platt by 603.8% in the 2nd quarter. SG Americas Securities LLC now owns 69,453 shares of the company’s stock worth $796,000 after acquiring an additional 59,585 shares during the period. Sequoia Financial Advisors LLC acquired a new stake in shares of Leggett & Platt in the 2nd quarter worth about $119,000. SteelPeak Wealth LLC increased its holdings in shares of Leggett & Platt by 10.2% in the 2nd quarter. SteelPeak Wealth LLC now owns 12,348 shares of the company’s stock worth $142,000 after acquiring an additional 1,140 shares during the period. Finally, Fifth Third Bancorp increased its holdings in shares of Leggett & Platt by 367.8% in the 2nd quarter. Fifth Third Bancorp now owns 3,396 shares of the company’s stock worth $39,000 after acquiring an additional 2,670 shares during the period. 64.23% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

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

Leggett & Platt Trading Down 1.2 %

Leggett & Platt stock opened at $11.51 on Friday. The firm has a market cap of $1.55 billion, a price-to-earnings ratio of -1.91 and a beta of 1.07. Leggett & Platt, Incorporated has a 1 year low of $10.11 and a 1 year high of $27.58. The firm’s 50 day moving average price is $12.35 and its two-hundred day moving average price is $12.28. The company has a debt-to-equity ratio of 2.13, a quick ratio of 0.84 and a current ratio of 1.48.

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

Leggett & Platt Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Friday, December 13th will be paid a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a yield of 1.74%. The ex-dividend date is 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.