Canada Pension Plan Investment Board Acquires Shares of 86,800 Leggett & Platt, Incorporated (NYSE:LEG)

Canada Pension Plan Investment Board acquired a new stake in Leggett & Platt, Incorporated (NYSE:LEG) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 86,800 shares of the company’s stock, valued at approximately $995,000. Canada Pension Plan Investment Board owned 0.06% of Leggett & Platt as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. CVA Family Office LLC purchased a new stake in shares of Leggett & Platt in the second quarter valued at approximately $36,000. Abich Financial Wealth Management LLC boosted its position 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 worth $37,000 after purchasing an additional 931 shares in the last quarter. Fifth Third Bancorp increased its holdings in shares of Leggett & Platt by 367.8% in the 2nd quarter. Fifth Third Bancorp now owns 3,396 shares of the company’s stock valued at $39,000 after purchasing an additional 2,670 shares in the last quarter. Innealta Capital LLC acquired a new stake in shares of Leggett & Platt in the second quarter valued at about $53,000. Finally, Bank & Trust Co purchased a new stake in Leggett & Platt during the second quarter worth about $63,000. Institutional investors and hedge funds own 64.23% of the company’s stock.

Leggett & Platt Stock Performance

NYSE:LEG opened at $14.12 on Friday. Leggett & Platt, Incorporated has a 1-year low of $10.11 and a 1-year high of $27.58. The firm has a 50 day simple moving average of $12.66 and a 200-day simple moving average of $13.78. The firm has a market cap of $1.89 billion, a PE ratio of -12.17 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.

Leggett & Platt (NYSE:LEG) last announced its quarterly earnings data on Thursday, August 1st. The company reported $0.29 EPS 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 business had revenue of $1.13 billion during the quarter, compared to the consensus estimate of $1.13 billion. On average, equities analysts expect that Leggett & Platt, Incorporated will post 1.14 EPS for the current year.

Leggett & Platt Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Friday, September 13th will be issued a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a yield of 1.42%. The ex-dividend date of this dividend is Friday, September 13th. Leggett & Platt’s payout ratio is currently -17.24%.

Analysts Set New Price Targets

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

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.