Silver Lake Advisory LLC Buys Shares of 10,157 Leggett & Platt, Incorporated (NYSE:LEG)

Silver Lake Advisory LLC purchased a new position in shares of Leggett & Platt, Incorporated (NYSE:LEG) in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 10,157 shares of the company’s stock, valued at approximately $266,000.

A number of other institutional investors have also made changes to their positions in LEG. Ramirez Asset Management Inc. acquired a new position in shares of Leggett & Platt during the 3rd quarter worth about $25,000. Fifth Third Bancorp boosted its stake in shares of 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 acquired a new position in Leggett & Platt in the fourth quarter valued at about $40,000. ORG Partners LLC bought a new stake in Leggett & Platt during the 4th quarter worth approximately $49,000. Finally, Hexagon Capital Partners LLC raised its holdings in shares of Leggett & Platt by 67.5% in the third quarter. Hexagon Capital Partners LLC now owns 1,930 shares of the company’s stock valued at $49,000 after buying an additional 778 shares during the last quarter. 64.23% of the stock is owned by institutional investors.

Leggett & Platt Trading Down 0.6 %

Shares of LEG traded down $0.08 during trading hours on Thursday, reaching $13.17. The stock had a trading volume of 2,428,014 shares, compared to its average volume of 1,825,762. The company has a market cap of $1.76 billion, a P/E ratio of -11.40 and a beta of 1.19. Leggett & Platt, Incorporated has a 52 week low of $11.02 and a 52 week high of $33.11. The company has a quick ratio of 0.84, a current ratio of 1.49 and a debt-to-equity ratio of 1.26. The firm has a 50-day moving average of $18.90 and a 200 day moving average of $22.21.

Leggett & Platt (NYSE:LEG) last issued its quarterly earnings data on Tuesday, April 30th. The company reported $0.23 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.24 by ($0.01). Leggett & Platt had a negative net margin of 3.44% and a positive return on equity of 10.84%. The business had revenue of $1.10 billion during the quarter, compared to analyst estimates of $1.11 billion. During the same quarter in the prior year, the firm posted $0.39 earnings per share. Leggett & Platt’s revenue for the quarter was down 9.6% compared to the same quarter last year. On average, sell-side analysts expect that Leggett & Platt, Incorporated will post 1.17 earnings per share for the current fiscal year.

Leggett & Platt Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Friday, June 14th will be issued a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a yield of 1.52%. The ex-dividend date is Friday, June 14th. Leggett & Platt’s dividend payout ratio (DPR) is presently -158.62%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the stock. Piper Sandler reduced their target price on shares of Leggett & Platt from $16.00 to $13.00 and set an “underweight” rating on the stock in a research report on Wednesday. The Goldman Sachs Group cut their price target on Leggett & Platt from $20.00 to $14.00 and set a “neutral” rating on the stock in a research note on Thursday. Truist Financial lowered their price objective on Leggett & Platt from $18.00 to $16.00 and set a “hold” rating for the company in a research report on Tuesday, March 26th. TheStreet cut Leggett & Platt from a “c” rating to a “d+” rating in a report on Monday, March 11th. Finally, StockNews.com lowered shares of Leggett & Platt from a “hold” rating to a “sell” rating in a research note on Monday, March 11th. Two investment analysts have rated the stock with a sell rating and two have given a hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $14.33.

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.