Leggett & Platt, Incorporated (NYSE:LEG) is V2 Financial group LLC’s 9th Largest Position

V2 Financial group LLC increased its stake in Leggett & Platt, Incorporated (NYSE:LEG) by 45.7% during the second quarter, according to its most recent filing with the SEC. The fund owned 249,323 shares of the company’s stock after buying an additional 78,248 shares during the quarter. Leggett & Platt accounts for approximately 1.9% of V2 Financial group LLC’s portfolio, making the stock its 9th largest holding. V2 Financial group LLC owned 0.19% of Leggett & Platt worth $2,857,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in LEG. International Assets Investment Management LLC purchased a new stake in shares of Leggett & Platt during the 4th quarter valued at approximately $336,000. GAMMA Investing LLC bought a new position in shares of Leggett & Platt in the fourth quarter worth $40,000. Atria Wealth Solutions Inc. boosted its holdings in shares of Leggett & Platt by 126.7% in the fourth quarter. Atria Wealth Solutions Inc. now owns 19,979 shares of the company’s stock worth $526,000 after acquiring an additional 11,167 shares during the period. Hexagon Capital Partners LLC grew its position in shares of Leggett & Platt by 66.3% in the fourth quarter. Hexagon Capital Partners LLC now owns 3,209 shares of the company’s stock valued at $84,000 after purchasing an additional 1,279 shares in the last quarter. Finally, Victory Capital Management Inc. raised its stake in shares of Leggett & Platt by 11.3% during the 4th quarter. Victory Capital Management Inc. now owns 222,921 shares of the company’s stock valued at $5,834,000 after purchasing an additional 22,635 shares during the period. 64.23% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages have commented on LEG. StockNews.com upgraded Leggett & Platt from a “sell” rating to a “hold” rating in a research note on Wednesday. Truist Financial raised their price objective on shares of Leggett & Platt from $11.00 to $13.00 and gave the company a “hold” rating in a research report on Monday, August 5th. Finally, The Goldman Sachs Group decreased their target price on shares of Leggett & Platt from $14.00 to $12.00 and set a “neutral” rating on the stock in a report on Wednesday, July 10th. One research analyst has rated the stock with a sell rating and three have given a hold rating to the company’s stock. According to MarketBeat.com, Leggett & Platt currently has a consensus rating of “Hold” and a consensus target price of $12.67.

Leggett & Platt Stock Down 0.4 %

Leggett & Platt stock opened at $12.64 on Friday. The company has a debt-to-equity ratio of 2.55, a quick ratio of 0.88 and a current ratio of 1.53. The business has a 50-day simple moving average of $12.24 and a 200 day simple moving average of $14.82. Leggett & Platt, Incorporated has a 52 week low of $10.11 and a 52 week high of $28.53.

Leggett & Platt (NYSE:LEG) last issued its quarterly earnings results on Thursday, August 1st. The company reported $0.29 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.29. The firm had revenue of $1.13 billion during the quarter, compared to the consensus estimate of $1.13 billion. Leggett & Platt had a positive return on equity of 12.65% and a negative net margin of 18.05%. As a group, sell-side analysts predict that Leggett & Platt, Incorporated will post 1.14 EPS for the current fiscal year.

Leggett & Platt Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Friday, September 13th will be given a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a dividend yield of 1.58%. The ex-dividend date of this dividend is Friday, September 13th. Leggett & Platt’s dividend payout ratio (DPR) is currently -17.24%.

Insider Activity at Leggett & Platt

In other news, CFO Benjamin Michael Burns purchased 3,850 shares of the company’s stock in a transaction on Thursday, June 6th. The stock was purchased at an average price of $12.20 per share, with a total value of $46,970.00. Following the completion of the purchase, the chief financial officer now directly owns 81,362 shares in the company, valued at approximately $992,616.40. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other Leggett & Platt news, CFO Benjamin Michael Burns purchased 3,850 shares of Leggett & Platt stock in a transaction on Thursday, June 6th. The shares were acquired at an average cost of $12.20 per share, for a total transaction of $46,970.00. Following the completion of the transaction, the chief financial officer now directly owns 81,362 shares of the company’s stock, valued at $992,616.40. The purchase was disclosed in a filing with the SEC, which is available at this link. Also, Director Srikanth Padmanabhan acquired 10,000 shares of the stock in a transaction dated Wednesday, June 5th. The stock was acquired at an average price of $12.06 per share, with a total value of $120,600.00. Following the completion of the acquisition, the director now owns 38,623 shares in the company, valued at approximately $465,793.38. The disclosure for this purchase can be found here. Insiders have bought a total of 15,835 shares of company stock valued at $192,383 over the last 90 days. 1.57% of the stock is owned by insiders.

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.