Handelsbanken Fonder AB Increases Holdings in Leggett & Platt, Incorporated (NYSE:LEG)

Handelsbanken Fonder AB grew its holdings in Leggett & Platt, Incorporated (NYSE:LEG) by 26.0% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 34,900 shares of the company’s stock after acquiring an additional 7,200 shares during the quarter. Handelsbanken Fonder AB’s holdings in Leggett & Platt were worth $475,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Arizona State Retirement System boosted its holdings in Leggett & Platt by 2.2% in the second quarter. Arizona State Retirement System now owns 37,438 shares of the company’s stock valued at $429,000 after purchasing an additional 799 shares in the last quarter. State of Michigan Retirement System boosted its holdings in shares of Leggett & Platt by 2.5% in the 1st quarter. State of Michigan Retirement System now owns 32,748 shares of the company’s stock valued at $627,000 after buying an additional 800 shares in the last quarter. Swiss National Bank grew its position in shares of Leggett & Platt by 0.3% in the 1st quarter. Swiss National Bank now owns 263,300 shares of the company’s stock valued at $5,042,000 after buying an additional 900 shares during the last quarter. Abich Financial Wealth Management LLC grew its holdings in shares of Leggett & Platt by 93.2% during the first 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 during the last quarter. Finally, Arbor Wealth Advisors LLC increased its position in Leggett & Platt by 1.8% during the first quarter. Arbor Wealth Advisors LLC now owns 57,762 shares of the company’s stock worth $1,106,000 after buying an additional 1,010 shares during the period. Institutional investors and hedge funds own 64.23% of the company’s stock.

Leggett & Platt Trading Up 0.6 %

NYSE LEG opened at $12.76 on Monday. Leggett & Platt, Incorporated has a 12 month low of $10.11 and a 12 month high of $27.58. 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 company has a 50-day moving average of $12.71 and a 200-day moving average of $13.32. The company has a market cap of $1.71 billion, a P/E ratio of -11.00 and a beta of 1.07.

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

Leggett & Platt Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Friday, September 13th will be given a $0.05 dividend. This represents a $0.20 annualized dividend and a yield of 1.57%. The ex-dividend date of this dividend is Friday, September 13th. Leggett & Platt’s dividend payout ratio (DPR) is -17.24%.

Analyst Ratings Changes

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