Oak Thistle LLC Boosts Stock Holdings in Leggett & Platt, Incorporated (NYSE:LEG)

Oak Thistle LLC raised its holdings in Leggett & Platt, Incorporated (NYSE:LEG) by 201.1% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 36,491 shares of the company’s stock after purchasing an additional 24,370 shares during the period. Oak Thistle LLC’s holdings in Leggett & Platt were worth $418,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of the business. Arizona State Retirement System increased its stake in shares of Leggett & Platt by 2.2% in the second quarter. Arizona State Retirement System now owns 37,438 shares of the company’s stock worth $429,000 after purchasing an additional 799 shares in the last quarter. CIBC Asset Management Inc purchased a new position in shares of Leggett & Platt in the second quarter worth about $154,000. V2 Financial group LLC increased its stake in shares of Leggett & Platt by 45.7% in the second quarter. V2 Financial group LLC now owns 249,323 shares of the company’s stock worth $2,857,000 after purchasing an additional 78,248 shares in the last quarter. Maryland State Retirement & Pension System boosted its position in shares of Leggett & Platt by 446.8% in the second quarter. Maryland State Retirement & Pension System now owns 57,193 shares of the company’s stock valued at $655,000 after acquiring an additional 46,733 shares during the period. Finally, International Assets Investment Management LLC bought a new position in shares of Leggett & Platt in the second quarter valued at approximately $407,000. Hedge funds and other institutional investors own 64.23% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the stock. StockNews.com upgraded shares of Leggett & Platt from a “sell” rating to a “hold” rating in a research report on Wednesday, August 28th. 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 report on Wednesday, July 10th. Finally, Truist Financial raised their price objective 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 research analyst has rated the stock with a sell rating and three have given a hold rating to the stock. Based on data from MarketBeat, Leggett & Platt has a consensus rating of “Hold” and a consensus target price of $12.67.

Leggett & Platt Trading Up 0.9 %

Shares of Leggett & Platt stock opened at $11.73 on Tuesday. Leggett & Platt, Incorporated has a 1 year low of $10.11 and a 1 year high of $27.58. The firm has a market cap of $1.57 billion, a PE ratio of -10.11 and a beta of 1.07. The company has a debt-to-equity ratio of 2.55, a current ratio of 1.53 and a quick ratio of 0.88. The company has a 50 day simple moving average of $12.33 and a two-hundred day simple moving average of $14.44.

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

Leggett & Platt Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Friday, September 13th will be given a dividend of $0.05 per share. The ex-dividend date is Friday, September 13th. This represents a $0.20 annualized dividend and a yield of 1.71%. Leggett & Platt’s payout ratio is presently -17.24%.

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.