Oak Thistle LLC Takes Position in Leggett & Platt, Incorporated (NYSE:LEG)

Oak Thistle LLC acquired a new position in Leggett & Platt, Incorporated (NYSE:LEG) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 89,193 shares of the company’s stock, valued at approximately $856,000. Oak Thistle LLC owned about 0.07% of Leggett & Platt at the end of the most recent quarter.

Several other large investors have also modified their holdings of the company. Pacer Advisors Inc. grew its position in shares of Leggett & Platt by 426.2% in the second quarter. Pacer Advisors Inc. now owns 14,042,134 shares of the company’s stock valued at $160,923,000 after purchasing an additional 11,373,507 shares during the last quarter. AQR Capital Management LLC boosted its stake in Leggett & Platt by 1,098.0% during the 2nd quarter. AQR Capital Management LLC now owns 2,005,408 shares of the company’s stock valued at $22,160,000 after purchasing an additional 1,838,009 shares during the period. Wellington Management Group LLP acquired a new stake in Leggett & Platt in the 3rd quarter valued at approximately $15,735,000. Invenomic Capital Management LP increased its position in Leggett & Platt by 384.1% in the 3rd quarter. Invenomic Capital Management LP now owns 921,472 shares of the company’s stock worth $12,550,000 after buying an additional 731,132 shares during the period. Finally, FMR LLC lifted its holdings in shares of Leggett & Platt by 3,264.5% during the third quarter. FMR LLC now owns 692,884 shares of the company’s stock worth $9,437,000 after buying an additional 672,290 shares during the last quarter. 64.23% of the stock is owned by institutional investors.

Leggett & Platt Price Performance

Shares of LEG stock opened at $10.72 on Thursday. The company has a market capitalization of $1.44 billion, a P/E ratio of -1.78 and a beta of 1.11. The company has a current ratio of 1.48, a quick ratio of 0.84 and a debt-to-equity ratio of 2.13. Leggett & Platt, Incorporated has a 12 month low of $9.18 and a 12 month high of $25.29. The stock has a 50 day moving average of $11.03 and a two-hundred day moving average of $12.02.

Leggett & Platt (NYSE:LEG) last issued its earnings results on Monday, October 28th. The company reported $0.32 EPS for the quarter, missing the consensus estimate 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 firm had revenue of $1.10 billion during the quarter, compared to the consensus estimate of $1.10 billion. During the same period last year, the business earned $0.36 earnings per share. The firm’s revenue for the quarter was down 6.3% compared to the same quarter last year. As a group, equities analysts expect that Leggett & Platt, Incorporated will post 1.05 EPS for the current year.

Leggett & Platt Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Friday, December 13th were given a $0.05 dividend. This represents a $0.20 annualized dividend and a yield of 1.87%. The ex-dividend date was Friday, December 13th. Leggett & Platt’s dividend payout ratio (DPR) is presently -3.33%.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the stock. The Goldman Sachs Group lowered their price objective on shares of Leggett & Platt from $14.00 to $12.00 and set a “neutral” rating on the stock in a research note on Tuesday. Piper Sandler upgraded shares of Leggett & Platt from an “underweight” rating to a “neutral” rating and raised their price target for the stock from $11.00 to $13.00 in a research report on Wednesday, October 30th. Four research analysts have rated the stock with a hold rating, According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $12.67.

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.