Jupiter Asset Management Ltd. Invests $1.86 Million in Leggett & Platt, Incorporated (NYSE:LEG)

Jupiter Asset Management Ltd. acquired a new stake in Leggett & Platt, Incorporated (NYSE:LEG) during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 162,011 shares of the company’s stock, valued at approximately $1,857,000. Jupiter Asset Management Ltd. owned about 0.12% of Leggett & Platt as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in LEG. Vanguard Group Inc. grew its holdings in shares of Leggett & Platt by 0.4% in the 4th quarter. Vanguard Group Inc. now owns 12,996,067 shares of the company’s stock valued at $340,107,000 after acquiring an additional 49,086 shares in the last quarter. Dimensional Fund Advisors LP increased its position in shares of Leggett & Platt by 12.4% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,373,959 shares of the company’s stock worth $62,127,000 after purchasing an additional 262,145 shares during the last quarter. ProShare Advisors LLC increased its position in shares of Leggett & Platt by 1.0% during the 1st quarter. ProShare Advisors LLC now owns 1,284,654 shares of the company’s stock worth $24,601,000 after purchasing an additional 12,502 shares during the last quarter. Norges Bank acquired a new stake in shares of Leggett & Platt in the 4th quarter valued at approximately $26,814,000. Finally, Speece Thorson Capital Group Inc. grew its stake in shares of Leggett & Platt by 0.3% in the fourth quarter. Speece Thorson Capital Group Inc. now owns 805,751 shares of the company’s stock valued at $21,087,000 after buying an additional 2,674 shares in the last quarter. Institutional investors own 64.23% of the company’s stock.

Leggett & Platt Price Performance

Shares of LEG opened at $12.81 on Friday. The firm has a market capitalization of $1.72 billion, a PE ratio of -11.04 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’s 50-day moving average is $12.36 and its 200-day moving average is $14.34. Leggett & Platt, Incorporated has a fifty-two week low of $10.11 and a fifty-two week high of $27.58.

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 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 firm had revenue of $1.13 billion for the quarter, compared to analysts’ expectations of $1.13 billion. Equities analysts forecast that Leggett & Platt, Incorporated will post 1.14 EPS for the current year.

Leggett & Platt Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Friday, September 13th will be paid a $0.05 dividend. The ex-dividend date is Friday, September 13th. This represents a $0.20 annualized dividend and a yield of 1.56%. Leggett & Platt’s dividend payout ratio (DPR) is presently -17.24%.

Wall Street Analyst Weigh In

Several analysts have issued reports on LEG shares. The Goldman Sachs Group dropped their price target on shares of Leggett & Platt from $14.00 to $12.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 10th. Truist Financial raised their target price 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. Finally, StockNews.com raised Leggett & Platt from a “sell” rating to a “hold” rating in a research report on Wednesday, August 28th. One research analyst has rated the stock with a sell rating and three have issued a hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $12.67.

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.