Zurcher Kantonalbank Zurich Cantonalbank Grows Holdings in Leggett & Platt, Incorporated (NYSE:LEG)

Zurcher Kantonalbank Zurich Cantonalbank grew its stake in Leggett & Platt, Incorporated (NYSE:LEG) by 55.5% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 38,103 shares of the company’s stock after buying an additional 13,593 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Leggett & Platt were worth $437,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Treasurer of the State of North Carolina grew its stake in Leggett & Platt by 1.0% in the 4th quarter. Treasurer of the State of North Carolina now owns 58,754 shares of the company’s stock worth $1,538,000 after buying an additional 570 shares in the last quarter. TFO Wealth Partners LLC boosted its stake in shares of Leggett & Platt by 10,833.3% in the 4th quarter. TFO Wealth Partners LLC now owns 656 shares of the company’s stock valued at $157,000 after purchasing an additional 650 shares in the last quarter. New York State Teachers Retirement System boosted its stake in shares of Leggett & Platt by 0.4% in the 1st quarter. New York State Teachers Retirement System now owns 161,369 shares of the company’s stock valued at $3,090,000 after purchasing an additional 700 shares in the last quarter. Quadrant Capital Group LLC boosted its stake in shares of Leggett & Platt by 56.2% in the 4th quarter. Quadrant Capital Group LLC now owns 2,130 shares of the company’s stock valued at $56,000 after purchasing an additional 766 shares in the last quarter. Finally, State of Michigan Retirement System boosted its stake in shares of Leggett & Platt by 2.5% in the 1st quarter. State of Michigan Retirement System now owns 32,748 shares of the company’s stock valued at $627,000 after purchasing an additional 800 shares in the last quarter. Hedge funds and other institutional investors own 64.23% of the company’s stock.

Leggett & Platt Trading Down 0.9 %

NYSE:LEG opened at $11.62 on Friday. The company has a fifty day moving average of $12.32 and a 200 day moving average of $14.58. Leggett & Platt, Incorporated has a 52 week low of $10.11 and a 52 week high of $27.58. The company has a quick ratio of 0.88, a current ratio of 1.53 and a debt-to-equity ratio of 2.55. The firm has a market capitalization of $1.56 billion, a P/E ratio of -10.02 and a beta of 1.07.

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

Leggett & Platt Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Friday, September 13th will be issued a $0.05 dividend. The ex-dividend date is Friday, September 13th. This represents a $0.20 annualized dividend and a yield of 1.72%. Leggett & Platt’s dividend payout ratio (DPR) is presently -17.24%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on LEG shares. The Goldman Sachs Group cut their price objective on shares of Leggett & Platt from $14.00 to $12.00 and set a “neutral” rating for the company in a research note on Wednesday, July 10th. StockNews.com raised shares of Leggett & Platt from a “sell” rating to a “hold” rating in a research note on Wednesday, August 28th. Finally, Truist Financial upped their price objective on shares of Leggett & Platt from $11.00 to $13.00 and gave the company a “hold” rating in a research note on Monday, August 5th. One analyst has rated the stock with a sell rating and three have assigned a hold rating to the company. Based on data from MarketBeat.com, Leggett & Platt has an average rating of “Hold” and an average price target 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.