Leggett & Platt, Incorporated (NYSE:LEG) Shares Acquired by Pacer Advisors Inc.

Pacer Advisors Inc. boosted its stake in Leggett & Platt, Incorporated (NYSE:LEG) by 426.2% in the 2nd quarter, Holdings Channel reports. The firm owned 14,042,134 shares of the company’s stock after buying an additional 11,373,507 shares during the quarter. Pacer Advisors Inc. owned 0.10% of Leggett & Platt worth $160,923,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. TFO Wealth Partners LLC lifted its stake in shares of Leggett & Platt by 10,833.3% in the fourth quarter. TFO Wealth Partners LLC now owns 656 shares of the company’s stock worth $157,000 after acquiring an additional 650 shares in the last quarter. Abich Financial Wealth Management LLC boosted its stake in shares of Leggett & Platt by 93.2% during the 1st quarter. Abich Financial Wealth Management LLC now owns 1,930 shares of the company’s stock valued at $37,000 after buying an additional 931 shares during the last quarter. Quadrant Capital Group LLC grew its position in shares of Leggett & Platt by 56.2% during the fourth quarter. Quadrant Capital Group LLC now owns 2,130 shares of the company’s stock worth $56,000 after buying an additional 766 shares in the last quarter. CVA Family Office LLC acquired a new stake in Leggett & Platt during the second quarter worth about $36,000. Finally, Fifth Third Bancorp boosted its stake in Leggett & Platt by 367.8% in the second quarter. Fifth Third Bancorp now owns 3,396 shares of the company’s stock valued at $39,000 after acquiring an additional 2,670 shares during the period. 64.23% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

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

Leggett & Platt Stock Performance

LEG opened at $13.18 on Friday. Leggett & Platt, Incorporated has a 1-year low of $10.11 and a 1-year high of $27.58. The company has a market capitalization of $1.77 billion, a price-to-earnings ratio of -11.36 and a beta of 1.07. The business has a 50 day moving average price of $12.57 and a two-hundred day moving average price of $14.03. The company has a debt-to-equity ratio of 2.55, a current ratio of 1.53 and a quick ratio of 0.88.

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, 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 company had revenue of $1.13 billion during the quarter, compared to analyst estimates of $1.13 billion. Research analysts predict that Leggett & Platt, Incorporated will post 1.14 EPS for the current fiscal year.

Leggett & Platt Dividend Announcement

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 issued a $0.05 dividend. The ex-dividend date is Friday, September 13th. This represents a $0.20 annualized dividend and a dividend yield of 1.52%. 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.