Principal Financial Group Inc. increased its stake in shares of Leggett & Platt, Incorporated (NYSE:LEG – Free Report) by 31.0% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 658,117 shares of the company’s stock after buying an additional 155,860 shares during the quarter. Principal Financial Group Inc. owned 0.49% of Leggett & Platt worth $7,542,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also bought and sold shares of the stock. CVA Family Office LLC bought a new stake in shares of Leggett & Platt in the 2nd quarter worth $36,000. Abich Financial Wealth Management LLC grew its position 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 worth $37,000 after purchasing an additional 931 shares in the last quarter. Fifth Third Bancorp increased its stake 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 buying an additional 2,670 shares during the last quarter. Innealta Capital LLC bought a new position in shares of Leggett & Platt during the 2nd quarter worth approximately $53,000. Finally, 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 worth $56,000 after buying an additional 766 shares during the last quarter. 64.23% of the stock is owned by hedge funds and other institutional investors.
Leggett & Platt Price Performance
Shares of NYSE LEG opened at $11.62 on Monday. 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 firm has a market cap of $1.56 billion, a price-to-earnings ratio of -10.02 and a beta of 1.07. Leggett & Platt, Incorporated has a 1-year low of $10.11 and a 1-year high of $27.58. The stock has a fifty day simple moving average of $12.32 and a two-hundred day simple moving average of $14.50.
Leggett & Platt Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Friday, September 13th will be issued a dividend of $0.05 per share. The ex-dividend date of this dividend is Friday, September 13th. This represents a $0.20 dividend on an annualized basis and a yield of 1.72%. Leggett & Platt’s payout ratio is -17.24%.
Analysts Set New Price Targets
LEG has been the subject of a number of research analyst reports. StockNews.com raised Leggett & Platt from a “sell” rating to a “hold” rating in a research report on Wednesday, August 28th. The Goldman Sachs Group lowered their target price on Leggett & Platt from $14.00 to $12.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 10th. Finally, Truist Financial increased their price target on shares of Leggett & Platt from $11.00 to $13.00 and gave the company a “hold” rating in a research report on Monday, August 5th. One equities research analyst has rated the stock with a sell rating and three have given a hold rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $12.67.
Check Out Our Latest Report on Leggett & Platt
Leggett & Platt Company Profile
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.
Featured Articles
- Five stocks we like better than Leggett & Platt
- How to Invest in Blue Chip Stocks
- GE Vernova’s Rally Could Continue as Wind Business Gains Ground
- Insider Buying Explained: What Investors Need to Know
- DraftKings vs. DoubleDown: Growth in the Online Gambling Boom
- How Investors Can Identify and Successfully Trade Gap-Down Stocks
- Join UiPath’s AI Surge and Catch the Coming Stock Price Reversal
Want to see what other hedge funds are holding LEG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Leggett & Platt, Incorporated (NYSE:LEG – Free Report).
Receive News & Ratings for Leggett & Platt Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Leggett & Platt and related companies with MarketBeat.com's FREE daily email newsletter.