CIBC Asset Management Inc Acquires Shares of 13,395 Leggett & Platt, Incorporated (NYSE:LEG)

CIBC Asset Management Inc bought a new position in shares of Leggett & Platt, Incorporated (NYSE:LEG) during the second quarter, according to the company in its most recent disclosure with the SEC. The firm bought 13,395 shares of the company’s stock, valued at approximately $154,000.

Several other hedge funds also recently made changes to their positions in the company. V2 Financial group LLC lifted its stake in Leggett & Platt by 45.7% during 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 during the last quarter. Maryland State Retirement & Pension System lifted its position in shares of Leggett & Platt by 446.8% in the 2nd quarter. Maryland State Retirement & Pension System now owns 57,193 shares of the company’s stock worth $655,000 after buying an additional 46,733 shares during the last quarter. International Assets Investment Management LLC acquired a new position in shares of Leggett & Platt in the 2nd quarter valued at about $407,000. Signaturefd LLC grew its position in shares of Leggett & Platt by 187.1% during the 2nd quarter. Signaturefd LLC now owns 14,412 shares of the company’s stock valued at $165,000 after buying an additional 9,392 shares during the last quarter. Finally, Principal Financial Group Inc. grew its position in shares of Leggett & Platt by 31.0% during the 2nd quarter. Principal Financial Group Inc. now owns 658,117 shares of the company’s stock valued at $7,542,000 after buying an additional 155,860 shares during the last quarter. Institutional investors and hedge funds own 64.23% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the stock. Truist Financial raised their target price on shares of Leggett & Platt from $11.00 to $13.00 and gave the stock a “hold” rating in a report on Monday, August 5th. StockNews.com raised Leggett & Platt from a “sell” rating to a “hold” rating in a report on Wednesday, August 28th. Finally, The Goldman Sachs Group reduced their price objective on Leggett & Platt from $14.00 to $12.00 and set a “neutral” rating for the company in a research report on Wednesday, July 10th. One equities research analyst has rated the stock with a sell rating and three have issued a hold rating to the stock. According to MarketBeat, Leggett & Platt presently has an average rating of “Hold” and an average target price of $12.67.

Leggett & Platt Trading Down 1.2 %

Shares of NYSE:LEG opened at $11.59 on Wednesday. Leggett & Platt, Incorporated has a fifty-two week low of $10.11 and a fifty-two 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 company has a market cap of $1.55 billion, a PE ratio of -9.99 and a beta of 1.07. The company’s 50-day moving average price is $12.34 and its 200 day moving average price is $14.38.

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

Leggett & Platt Announces Dividend

The firm also recently declared 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 dividend on an annualized basis and a yield of 1.73%. Leggett & Platt’s dividend payout ratio (DPR) 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.