Meeder Advisory Services Inc. Invests $127,000 in Leggett & Platt, Incorporated (NYSE:LEG)

Meeder Advisory Services Inc. bought a new position in shares of Leggett & Platt, Incorporated (NYSE:LEG) in the 2nd quarter, HoldingsChannel.com reports. The fund bought 11,069 shares of the company’s stock, valued at approximately $127,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Norges Bank purchased a new position in shares of Leggett & Platt during the 4th quarter worth $26,814,000. Dimensional Fund Advisors LP boosted its stake in Leggett & Platt by 12.4% during the fourth quarter. Dimensional Fund Advisors LP now owns 2,373,959 shares of the company’s stock worth $62,127,000 after buying an additional 262,145 shares during the period. Invenomic Capital Management LP purchased a new position in Leggett & Platt during the first quarter worth about $4,203,000. Jupiter Asset Management Ltd. acquired a new stake in shares of Leggett & Platt during the second quarter valued at about $1,857,000. Finally, Principal Financial Group Inc. raised its stake in shares of Leggett & Platt by 31.0% in the 2nd quarter. Principal Financial Group Inc. now owns 658,117 shares of the company’s stock valued at $7,542,000 after acquiring an additional 155,860 shares during the period. Hedge funds and other institutional investors own 64.23% of the company’s stock.

Analysts Set New Price Targets

LEG has been the subject of a number of research analyst reports. Truist Financial increased their price objective on shares of Leggett & Platt from $11.00 to $13.00 and gave the stock a “hold” rating in a research report on Monday, August 5th. The Goldman Sachs Group lowered their price target 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. Finally, StockNews.com upgraded Leggett & Platt from a “sell” rating to a “hold” rating in a report on Wednesday, August 28th. One investment analyst has rated the stock with a sell rating and three have given a hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $12.67.

Leggett & Platt Price Performance

Shares of LEG opened at $12.84 on Tuesday. The company has a market cap of $1.72 billion, a P/E ratio of -11.06 and a beta of 1.07. 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 firm’s 50 day moving average price is $12.40 and its 200 day moving average price is $14.20.

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

Leggett & Platt Announces Dividend

The business 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 $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a yield of 1.56%. The ex-dividend date of this dividend is Friday, September 13th. Leggett & Platt’s dividend payout ratio is currently -17.24%.

Leggett & Platt 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.