Kinloch Capital LLC Has $2.49 Million Stock Position in Leggett & Platt, Incorporated (NYSE:LEG)

Kinloch Capital LLC boosted its stake in Leggett & Platt, Incorporated (NYSE:LEGFree Report) by 3.4% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 97,862 shares of the company’s stock after buying an additional 3,225 shares during the period. Kinloch Capital LLC owned approximately 0.07% of Leggett & Platt worth $2,487,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also bought and sold shares of LEG. JPMorgan Chase & Co. grew its stake in Leggett & Platt by 0.6% in the 1st quarter. JPMorgan Chase & Co. now owns 254,903 shares of the company’s stock valued at $8,871,000 after buying an additional 1,440 shares during the last quarter. American Century Companies Inc. grew its stake in Leggett & Platt by 11.5% in the 1st quarter. American Century Companies Inc. now owns 58,626 shares of the company’s stock valued at $2,040,000 after buying an additional 6,030 shares during the last quarter. HighTower Advisors LLC grew its stake in Leggett & Platt by 174.1% in the 1st quarter. HighTower Advisors LLC now owns 42,660 shares of the company’s stock valued at $1,482,000 after buying an additional 27,098 shares during the last quarter. Cetera Advisor Networks LLC grew its stake in Leggett & Platt by 5.2% in the 1st quarter. Cetera Advisor Networks LLC now owns 8,989 shares of the company’s stock valued at $313,000 after buying an additional 443 shares during the last quarter. Finally, Citigroup Inc. grew its stake in Leggett & Platt by 34.2% in the 1st quarter. Citigroup Inc. now owns 81,162 shares of the company’s stock valued at $2,825,000 after buying an additional 20,675 shares during the last quarter. Institutional investors and hedge funds own 60.26% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the stock. Piper Sandler decreased their target price on shares of Leggett & Platt from $21.00 to $18.00 and set an “underweight” rating on the stock in a research report on Wednesday, November 1st. The Goldman Sachs Group decreased their target price on shares of Leggett & Platt from $27.00 to $24.00 and set a “neutral” rating on the stock in a research report on Wednesday, November 1st. Finally, Truist Financial decreased their target price on shares of Leggett & Platt from $24.00 to $18.00 and set a “hold” rating on the stock in a research report on Tuesday, February 13th.

Read Our Latest Report on LEG

Leggett & Platt Price Performance

Shares of Leggett & Platt stock traded down $0.15 on Thursday, reaching $20.44. 283,331 shares of the stock were exchanged, compared to its average volume of 1,465,405. The firm’s 50 day moving average is $23.46 and its 200-day moving average is $24.62. Leggett & Platt, Incorporated has a one year low of $19.60 and a one year high of $34.81. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.84 and a current ratio of 1.49. The firm has a market cap of $2.73 billion, a PE ratio of -20.49 and a beta of 1.23.

Leggett & Platt (NYSE:LEGGet Free Report) last issued its quarterly earnings results on Friday, February 9th. The company reported $0.26 earnings per share for the quarter, missing analysts’ consensus estimates of $0.27 by ($0.01). The firm had revenue of $1.12 billion for the quarter, compared to the consensus estimate of $1.11 billion. Leggett & Platt had a positive return on equity of 11.99% and a negative net margin of 2.90%. The business’s revenue was down 6.7% on a year-over-year basis. During the same period last year, the company posted $0.39 EPS. As a group, analysts anticipate that Leggett & Platt, Incorporated will post 1.17 EPS for the current fiscal year.

Leggett & Platt Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, April 15th. Investors of record on Friday, March 15th will be paid a $0.46 dividend. This represents a $1.84 annualized dividend and a yield of 9.00%. The ex-dividend date of this dividend is Thursday, March 14th. Leggett & Platt’s payout ratio is -184.00%.

Leggett & Platt Company Profile

(Free Report)

Leggett & Platt, Incorporated designs, manufactures, and markets engineered components and products worldwide. It operates through three segments: Bedding Products; Specialized Products; and Furniture, Flooring & Textile Products. The company offers steel rods, drawn wires, foam chemicals and additives, innersprings, private label finished mattresses, wire forms for mattress foundations, adjustable beds, industrial sewing and quilting machines, and mattress packaging and glue drying equipment, as well as machines to produce innersprings for industrial users of steel rods and wires, manufacturers of finished bedding, big box and e-commerce retailers, bedding brands and mattress retailers, department stores, and home improvement centers.

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Institutional Ownership by Quarter for Leggett & Platt (NYSE:LEG)

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