EverSource Wealth Advisors LLC Has $50,000 Holdings in Leggett & Platt, Incorporated (NYSE:LEG)

EverSource Wealth Advisors LLC raised its holdings in shares of Leggett & Platt, Incorporated (NYSE:LEG) by 343.8% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 4,371 shares of the company’s stock after buying an additional 3,386 shares during the quarter. EverSource Wealth Advisors LLC’s holdings in Leggett & Platt were worth $50,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Norges Bank bought a new position in Leggett & Platt in the fourth quarter worth $26,814,000. Cambridge Investment Research Advisors Inc. lifted its position in Leggett & Platt by 46.5% in the fourth quarter. Cambridge Investment Research Advisors Inc. now owns 90,145 shares of the company’s stock worth $2,359,000 after purchasing an additional 28,621 shares during the period. Parallel Advisors LLC lifted its position in Leggett & Platt by 315.7% in the fourth quarter. Parallel Advisors LLC now owns 4,390 shares of the company’s stock worth $115,000 after purchasing an additional 3,334 shares during the period. Stifel Financial Corp lifted its position in Leggett & Platt by 7.2% in the fourth quarter. Stifel Financial Corp now owns 332,528 shares of the company’s stock worth $8,702,000 after purchasing an additional 22,471 shares during the period. Finally, Treasurer of the State of North Carolina lifted its position in Leggett & Platt by 1.0% in the fourth quarter. Treasurer of the State of North Carolina now owns 58,754 shares of the company’s stock worth $1,538,000 after purchasing an additional 570 shares during the period. 64.23% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the company. Truist Financial raised their target price on Leggett & Platt from $11.00 to $13.00 and gave the stock a “hold” rating in a research report on Monday, August 5th. StockNews.com upgraded Leggett & Platt from a “sell” rating to a “hold” rating in a research note on Wednesday, August 28th. Finally, The Goldman Sachs Group dropped their price objective 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 assigned a hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $12.67.

Leggett & Platt Stock Performance

Leggett & Platt stock opened at $14.12 on Friday. 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 stock has a fifty day moving average price of $12.66 and a two-hundred day moving average price of $13.74. Leggett & Platt, Incorporated has a 52-week low of $10.11 and a 52-week high of $27.58. The firm has a market capitalization of $1.89 billion, a P/E ratio of -12.17 and a beta of 1.07.

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

Leggett & Platt Dividend Announcement

The firm also recently announced 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 is Friday, September 13th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.42%. Leggett & Platt’s dividend payout ratio (DPR) is presently -17.24%.

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.