Inspire Advisors LLC Buys 39,790 Shares of Leggett & Platt, Incorporated (NYSE:LEG)

Inspire Advisors LLC raised its stake in Leggett & Platt, Incorporated (NYSE:LEG) by 45.0% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 128,309 shares of the company’s stock after acquiring an additional 39,790 shares during the quarter. Inspire Advisors LLC’s holdings in Leggett & Platt were worth $1,748,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. CVA Family Office LLC bought a new position in Leggett & Platt in the 2nd quarter valued at about $36,000. Abich Financial Wealth Management LLC raised its holdings in Leggett & Platt by 93.2% in the 1st quarter. Abich Financial Wealth Management LLC now owns 1,930 shares of the company’s stock valued at $37,000 after acquiring an additional 931 shares during the period. Fifth Third Bancorp raised its holdings in Leggett & Platt by 367.8% in the 2nd quarter. Fifth Third Bancorp now owns 3,396 shares of the company’s stock valued at $39,000 after acquiring an additional 2,670 shares during the period. nVerses Capital LLC bought a new position in Leggett & Platt in the 3rd quarter valued at about $41,000. Finally, EverSource Wealth Advisors LLC increased its holdings in shares of Leggett & Platt by 343.8% during the second quarter. EverSource Wealth Advisors LLC now owns 4,371 shares of the company’s stock worth $50,000 after purchasing an additional 3,386 shares during the period. 64.23% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the stock. StockNews.com raised shares of Leggett & Platt from a “sell” rating to a “hold” rating in a report on Wednesday, August 28th. The Goldman Sachs Group lowered 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. Finally, Truist Financial raised their target price on shares of Leggett & Platt from $11.00 to $13.00 and gave the stock a “hold” rating in a report on Monday, August 5th. One research analyst has rated the stock with a sell rating and three have given a hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $12.67.

Leggett & Platt Price Performance

Leggett & Platt stock traded up $0.02 during mid-day trading on Friday, reaching $13.48. The company had a trading volume of 134,905 shares, compared to its average volume of 2,327,155. Leggett & Platt, Incorporated has a fifty-two week low of $10.11 and a fifty-two week high of $27.58. The company has a current ratio of 1.53, a quick ratio of 0.88 and a debt-to-equity ratio of 2.55. The company has a market cap of $1.81 billion, a P/E ratio of -11.62 and a beta of 1.07. The business has a fifty day simple moving average of $12.76 and a 200 day simple moving average of $13.24.

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

Leggett & Platt Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Friday, September 13th were paid a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a yield of 1.48%. The ex-dividend date of this dividend was Friday, September 13th. Leggett & Platt’s dividend payout ratio is presently -17.24%.

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.