Sanctuary Advisors LLC Makes New Investment in Leggett & Platt, Incorporated (NYSE:LEG)

Sanctuary Advisors LLC acquired a new stake in shares of Leggett & Platt, Incorporated (NYSE:LEG) during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 11,272 shares of the company’s stock, valued at approximately $108,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. State Street Corp boosted its stake in shares of Leggett & Platt by 0.6% during the third quarter. State Street Corp now owns 4,437,066 shares of the company’s stock valued at $60,657,000 after purchasing an additional 27,693 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of Leggett & Platt by 2.9% during the third quarter. Geode Capital Management LLC now owns 2,156,322 shares of the company’s stock valued at $29,377,000 after purchasing an additional 60,166 shares in the last quarter. Wellington Management Group LLP bought a new position in shares of Leggett & Platt during the third quarter valued at approximately $15,735,000. Invenomic Capital Management LP boosted its stake in shares of Leggett & Platt by 384.1% during the third quarter. Invenomic Capital Management LP now owns 921,472 shares of the company’s stock valued at $12,550,000 after purchasing an additional 731,132 shares in the last quarter. Finally, FMR LLC boosted its stake in shares of Leggett & Platt by 3,264.5% during the third quarter. FMR LLC now owns 692,884 shares of the company’s stock valued at $9,437,000 after purchasing an additional 672,290 shares in the last quarter. 64.23% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the stock. Truist Financial dropped their price objective on shares of Leggett & Platt from $13.00 to $11.00 and set a “hold” rating on the stock in a research note on Wednesday, January 29th. The Goldman Sachs Group lowered 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 note on Tuesday, January 14th. Four research analysts have rated the stock with a hold rating, According to MarketBeat.com, Leggett & Platt currently has a consensus rating of “Hold” and a consensus target price of $12.00.

Leggett & Platt Trading Down 1.0 %

NYSE LEG opened at $8.60 on Friday. The company has a fifty day simple moving average of $9.99 and a two-hundred day simple moving average of $11.49. The stock has a market cap of $1.16 billion, a P/E ratio of -2.30 and a beta of 1.12. Leggett & Platt, Incorporated has a 12-month low of $8.43 and a 12-month high of $20.91. The company has a current ratio of 2.00, a quick ratio of 1.14 and a debt-to-equity ratio of 2.70.

Leggett & Platt (NYSE:LEG) last posted its quarterly earnings results on Thursday, February 13th. The company reported $0.21 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.21. The business had revenue of $1.06 billion during the quarter, compared to analysts’ expectations of $1.03 billion. Leggett & Platt had a negative net margin of 11.67% and a positive return on equity of 17.09%. On average, analysts forecast that Leggett & Platt, Incorporated will post 1.14 earnings per share for the current year.

Leggett & Platt Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Friday, March 14th will be issued a $0.05 dividend. The ex-dividend date is Friday, March 14th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 2.33%. Leggett & Platt’s dividend payout ratio is currently -5.36%.

About Leggett & Platt

Leggett & Platt, Inc engages in the manufacture and distribution of furniture and engineered components and products among homes, offices, automobiles, and commercial aircraft. It operates through the following segments: Bedding Products, Specialized Products, and Furniture, Flooring & Textile Products.