Public Sector Pension Investment Board Acquires Shares of 294,911 Leggett & Platt, Incorporated (NYSE:LEG)

Public Sector Pension Investment Board bought a new position in shares of Leggett & Platt, Incorporated (NYSE:LEG) during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund bought 294,911 shares of the company’s stock, valued at approximately $3,380,000. Public Sector Pension Investment Board owned about 0.22% of Leggett & Platt as of its most recent SEC filing.

A number of other large investors have also modified their holdings of the business. Pacer Advisors Inc. boosted its position in Leggett & Platt by 426.2% during the second quarter. Pacer Advisors Inc. now owns 14,042,134 shares of the company’s stock worth $160,923,000 after acquiring an additional 11,373,507 shares during the last quarter. Vanguard Group Inc. grew its position in shares of Leggett & Platt by 0.4% in the fourth quarter. Vanguard Group Inc. now owns 12,996,067 shares of the company’s stock valued at $340,107,000 after purchasing an additional 49,086 shares in the last quarter. ProShare Advisors LLC increased its holdings in shares of Leggett & Platt by 1.0% in the first quarter. ProShare Advisors LLC now owns 1,284,654 shares of the company’s stock valued at $24,601,000 after purchasing an additional 12,502 shares during the last quarter. Norges Bank purchased a new position in Leggett & Platt during the fourth quarter worth approximately $26,814,000. Finally, Speece Thorson Capital Group Inc. boosted its stake in Leggett & Platt by 0.3% during the fourth quarter. Speece Thorson Capital Group Inc. now owns 805,751 shares of the company’s stock worth $21,087,000 after buying an additional 2,674 shares during the last quarter. Hedge funds and other institutional investors own 64.23% of the company’s stock.

Leggett & Platt Stock Up 3.7 %

Shares of NYSE:LEG opened at $14.12 on Friday. The business has a 50-day moving average price of $12.66 and a 200 day moving average price of $13.78. Leggett & Platt, Incorporated has a 12-month low of $10.11 and a 12-month high of $27.58. The company has a current ratio of 1.53, a quick ratio of 0.88 and a debt-to-equity ratio of 2.55. The company has a market capitalization of $1.89 billion, a price-to-earnings ratio of -12.17 and a beta of 1.07.

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

Leggett & Platt Announces Dividend

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

Analyst Ratings Changes

Several research analysts have recently commented on the company. StockNews.com upgraded Leggett & Platt from a “sell” rating to a “hold” rating in a report on Wednesday, August 28th. The Goldman Sachs Group reduced their target price on shares of Leggett & Platt from $14.00 to $12.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 10th. Finally, Truist Financial increased 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 research analyst has rated the stock with a sell rating and three have given a hold rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $12.67.

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.