Quarry LP Acquires 8,310 Shares of Leggett & Platt, Incorporated (NYSE:LEG)

Quarry LP raised its holdings in Leggett & Platt, Incorporated (NYSE:LEG) by 582.3% during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 9,737 shares of the company’s stock after acquiring an additional 8,310 shares during the quarter. Quarry LP’s holdings in Leggett & Platt were worth $112,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Creative Planning boosted its stake in shares of Leggett & Platt by 371.1% during the second quarter. Creative Planning now owns 121,888 shares of the company’s stock valued at $1,397,000 after purchasing an additional 96,015 shares during the period. Algert Global LLC purchased a new stake in Leggett & Platt in the 2nd quarter valued at about $393,000. Scientech Research LLC bought a new position in Leggett & Platt in the 2nd quarter worth about $650,000. AQR Capital Management LLC increased its position in shares of Leggett & Platt by 1,098.0% during the second quarter. AQR Capital Management LLC now owns 2,005,408 shares of the company’s stock worth $22,160,000 after acquiring an additional 1,838,009 shares during the period. Finally, Bank of Montreal Can raised its stake in shares of Leggett & Platt by 14.7% during the second quarter. Bank of Montreal Can now owns 103,703 shares of the company’s stock valued at $1,194,000 after acquiring an additional 13,280 shares in the last quarter. Hedge funds and other institutional investors own 64.23% of the company’s stock.

Leggett & Platt Stock Performance

Shares of NYSE:LEG opened at $13.67 on Wednesday. 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 company has a market capitalization of $1.83 billion, a price-to-earnings ratio of -11.78 and a beta of 1.07. The firm has a 50 day moving average of $12.68 and a 200 day moving average of $13.67. Leggett & Platt, Incorporated has a 52 week low of $10.11 and a 52 week high of $27.58.

Leggett & Platt (NYSE:LEG) last issued 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. 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 analysts’ expectations of $1.13 billion. On average, sell-side analysts predict that Leggett & Platt, Incorporated will post 1.14 earnings per share for the current fiscal year.

Leggett & Platt Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders 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 dividend yield of 1.46%. The ex-dividend date is Friday, September 13th. Leggett & Platt’s dividend payout ratio is currently -17.24%.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the company. Truist Financial raised their price objective on Leggett & Platt from $11.00 to $13.00 and gave the stock a “hold” rating in a 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 decreased their price objective on Leggett & Platt from $14.00 to $12.00 and set a “neutral” rating for the company in a report on Wednesday, July 10th. One research analyst has rated the stock with a sell rating and three have assigned a hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price 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.