Maryland State Retirement & Pension System Boosts Position in Leggett & Platt, Incorporated (NYSE:LEG)

Maryland State Retirement & Pension System raised its holdings in shares of Leggett & Platt, Incorporated (NYSE:LEG) by 446.8% during the second quarter, HoldingsChannel reports. The institutional investor owned 57,193 shares of the company’s stock after acquiring an additional 46,733 shares during the quarter. Maryland State Retirement & Pension System’s holdings in Leggett & Platt were worth $655,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of LEG. Treasurer of the State of North Carolina lifted its holdings in shares of Leggett & Platt by 1.0% during the 4th quarter. Treasurer of the State of North Carolina now owns 58,754 shares of the company’s stock valued at $1,538,000 after acquiring an additional 570 shares in the last quarter. TFO Wealth Partners LLC boosted its position in shares of Leggett & Platt by 10,833.3% in the fourth quarter. TFO Wealth Partners LLC now owns 656 shares of the company’s stock worth $157,000 after buying an additional 650 shares during the period. New York State Teachers Retirement System grew its stake in shares of Leggett & Platt by 0.4% in the first quarter. New York State Teachers Retirement System now owns 161,369 shares of the company’s stock valued at $3,090,000 after buying an additional 700 shares in the last quarter. Quadrant Capital Group LLC raised its holdings in shares of Leggett & Platt by 56.2% during the 4th quarter. Quadrant Capital Group LLC now owns 2,130 shares of the company’s stock valued at $56,000 after buying an additional 766 shares during the period. Finally, State of Michigan Retirement System lifted its position in Leggett & Platt by 2.5% during the 1st quarter. State of Michigan Retirement System now owns 32,748 shares of the company’s stock worth $627,000 after acquiring an additional 800 shares in the last quarter. 64.23% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Leggett & Platt

In related news, Director Srikanth Padmanabhan purchased 10,000 shares of the company’s stock in a transaction dated Wednesday, June 5th. The shares were acquired at an average cost of $12.06 per share, for a total transaction of $120,600.00. Following the transaction, the director now owns 38,623 shares of the company’s stock, valued at $465,793.38. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, Director Srikanth Padmanabhan purchased 10,000 shares of the stock in a transaction dated Wednesday, June 5th. The stock was acquired at an average price of $12.06 per share, for a total transaction of $120,600.00. Following the completion of the transaction, the director now owns 38,623 shares of the company’s stock, valued at $465,793.38. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Benjamin Michael Burns acquired 3,850 shares of the business’s stock in a transaction that occurred on Thursday, June 6th. The stock was purchased at an average price of $12.20 per share, for a total transaction of $46,970.00. Following the completion of the transaction, the chief financial officer now owns 81,362 shares in the company, valued at $992,616.40. The disclosure for this purchase can be found here. 1.57% of the stock is currently owned by insiders.

Leggett & Platt Stock Down 0.4 %

LEG stock opened at $12.64 on Tuesday. The company has a market capitalization of $1.69 billion, a P/E ratio of -10.90 and a beta of 1.08. The firm has a 50 day simple moving average of $12.25 and a 200-day simple moving average of $14.73. The company has a current ratio of 1.53, a quick ratio of 0.88 and a debt-to-equity ratio of 2.55. Leggett & Platt, Incorporated has a twelve month low of $10.11 and a twelve month high of $28.53.

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

Leggett & Platt Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Friday, September 13th will be issued a $0.05 dividend. The ex-dividend date is Friday, September 13th. This represents a $0.20 dividend on an annualized basis and a yield of 1.58%. Leggett & Platt’s dividend payout ratio is currently -17.24%.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on LEG shares. The Goldman Sachs Group lowered their price objective 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. Truist Financial lifted their price target on shares of Leggett & Platt from $11.00 to $13.00 and gave the stock a “hold” rating in a research note on Monday, August 5th. Finally, StockNews.com upgraded shares of Leggett & Platt from a “sell” rating to a “hold” rating in a report on Wednesday, August 28th. One equities 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.com, the stock has a consensus rating of “Hold” and an average 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.