Leggett & Platt, Incorporated (NYSE:LEG) Shares Purchased by Ontario Teachers Pension Plan Board

Ontario Teachers Pension Plan Board boosted its holdings in Leggett & Platt, Incorporated (NYSE:LEG) by 78.8% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 65,994 shares of the company’s stock after acquiring an additional 29,088 shares during the period. Ontario Teachers Pension Plan Board’s holdings in Leggett & Platt were worth $1,264,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. TFO Wealth Partners LLC grew its stake in Leggett & Platt by 10,833.3% in the 4th quarter. TFO Wealth Partners LLC now owns 656 shares of the company’s stock valued at $157,000 after acquiring an additional 650 shares during the last quarter. Fifth Third Bancorp lifted its holdings in Leggett & Platt by 253.3% in the 4th quarter. Fifth Third Bancorp now owns 1,007 shares of the company’s stock valued at $26,000 after purchasing an additional 722 shares in the last quarter. GAMMA Investing LLC purchased a new position in Leggett & Platt in the 4th quarter valued at about $40,000. ORG Partners LLC purchased a new position in Leggett & Platt in the 4th quarter valued at about $49,000. Finally, Quadrant Capital Group LLC increased its position in Leggett & Platt by 56.2% during the 4th quarter. Quadrant Capital Group LLC now owns 2,130 shares of the company’s stock worth $56,000 after purchasing an additional 766 shares in the last quarter. 64.23% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, CEO Karl G. Glassman acquired 23,800 shares of Leggett & Platt stock in a transaction that occurred on Friday, May 31st. The shares were purchased at an average cost of $11.48 per share, for a total transaction of $273,224.00. Following the completion of the purchase, the chief executive officer now directly owns 1,151,891 shares of the company’s stock, valued at approximately $13,223,708.68. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CEO Karl G. Glassman bought 23,800 shares of the business’s stock in a transaction on Friday, May 31st. The shares were bought at an average cost of $11.48 per share, for a total transaction of $273,224.00. Following the completion of the purchase, the chief executive officer now owns 1,151,891 shares of the company’s stock, valued at approximately $13,223,708.68. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Ryan Michael Kleiboeker bought 10,000 shares of the business’s stock in a transaction on Thursday, May 2nd. The stock was bought at an average price of $13.39 per share, for a total transaction of $133,900.00. Following the completion of the purchase, the executive vice president now directly owns 41,535 shares of the company’s stock, valued at approximately $556,153.65. The disclosure for this purchase can be found here. Insiders have bought 65,635 shares of company stock worth $773,447 over the last ninety days. 1.57% of the stock is owned by insiders.

Leggett & Platt Stock Down 1.3 %

Shares of LEG stock traded down $0.17 during mid-day trading on Tuesday, reaching $12.72. 37,114 shares of the company were exchanged, compared to its average volume of 2,636,000. Leggett & Platt, Incorporated has a fifty-two week low of $10.11 and a fifty-two week high of $30.69. The company has a debt-to-equity ratio of 1.37, a quick ratio of 0.89 and a current ratio of 1.57. The company has a market capitalization of $1.70 billion, a P/E ratio of -11.10 and a beta of 1.08. The business’s 50 day simple moving average is $11.63 and its 200 day simple moving average is $17.00.

Leggett & Platt (NYSE:LEG) last released its quarterly earnings results on Tuesday, April 30th. The company reported $0.23 earnings per share for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.01). Leggett & Platt had a positive return on equity of 11.31% and a negative net margin of 3.44%. The company had revenue of $1.10 billion for the quarter, compared to analyst estimates of $1.11 billion. During the same period in the previous year, the business posted $0.39 EPS. The firm’s quarterly revenue was down 9.6% compared to the same quarter last year. Research analysts predict that Leggett & Platt, Incorporated will post 1.11 earnings per share for the current year.

Leggett & Platt Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, July 15th. Investors of record on Friday, June 14th were paid a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a yield of 1.57%. The ex-dividend date was Friday, June 14th. Leggett & Platt’s dividend payout ratio (DPR) is presently -17.24%.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on LEG. The Goldman Sachs Group dropped their target price on shares of Leggett & Platt from $14.00 to $12.00 and set a “neutral” rating for the company in a research report on Wednesday, July 10th. Piper Sandler dropped their target price on shares of Leggett & Platt from $16.00 to $13.00 and set an “underweight” rating for the company in a research report on Wednesday, May 1st. Truist Financial dropped their target price on shares of Leggett & Platt from $13.00 to $11.00 and set a “hold” rating for the company in a research report on Thursday, June 27th. Finally, StockNews.com downgraded shares of Leggett & Platt from a “hold” rating to a “sell” rating in a research report on Saturday, July 6th. Two investment analysts have rated the stock with a sell rating and two have assigned a hold rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $12.00.

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.