Daiwa Securities Group Inc. Acquires 17,437 Shares of Leggett & Platt, Incorporated (NYSE:LEG)

Daiwa Securities Group Inc. raised its holdings in Leggett & Platt, Incorporated (NYSE:LEG) by 100.1% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 34,853 shares of the company’s stock after purchasing an additional 17,437 shares during the period. Daiwa Securities Group Inc.’s holdings in Leggett & Platt were worth $399,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. TFO Wealth Partners LLC lifted its holdings in shares of Leggett & Platt by 10,833.3% during the 4th quarter. TFO Wealth Partners LLC now owns 656 shares of the company’s stock worth $157,000 after acquiring an additional 650 shares during the period. Abich Financial Wealth Management LLC lifted its stake in Leggett & Platt by 93.2% in the 1st quarter. Abich Financial Wealth Management LLC now owns 1,930 shares of the company’s stock valued at $37,000 after purchasing an additional 931 shares during the last quarter. Quadrant Capital Group LLC lifted its stake in Leggett & Platt by 56.2% in the 4th quarter. Quadrant Capital Group LLC now owns 2,130 shares of the company’s stock valued at $56,000 after purchasing an additional 766 shares during the last quarter. CVA Family Office LLC bought a new position in Leggett & Platt in the 2nd quarter valued at approximately $36,000. Finally, Fifth Third Bancorp lifted its stake in Leggett & Platt by 367.8% in the 2nd quarter. Fifth Third Bancorp now owns 3,396 shares of the company’s stock valued at $39,000 after purchasing an additional 2,670 shares during the last quarter. Institutional investors own 64.23% of the company’s stock.

Wall Street Analysts Forecast Growth

LEG has been the subject of several research reports. The Goldman Sachs Group dropped 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 note on Wednesday, July 10th. StockNews.com upgraded shares of Leggett & Platt from a “sell” rating to a “hold” rating in a research report on Wednesday, August 28th. Finally, Truist Financial increased their price objective on shares of Leggett & Platt from $11.00 to $13.00 and gave the stock a “hold” rating in a research report on Monday, August 5th. One research analyst has rated the stock with a sell rating and three have issued a hold rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $12.67.

Leggett & Platt Trading Up 0.3 %

NYSE:LEG opened at $12.84 on Tuesday. The company has a current ratio of 1.53, a quick ratio of 0.88 and a debt-to-equity ratio of 2.55. The stock has a market capitalization of $1.72 billion, a price-to-earnings ratio of -11.06 and a beta of 1.07. The firm has a fifty day simple moving average of $12.40 and a two-hundred day simple moving average of $14.20. Leggett & Platt, Incorporated has a 12 month low of $10.11 and a 12 month high of $27.58.

Leggett & Platt (NYSE:LEG) last released its quarterly earnings data 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 analyst estimates of $1.13 billion. Analysts expect that Leggett & Platt, Incorporated will post 1.14 EPS for the current fiscal year.

Leggett & Platt Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Friday, September 13th will be issued a dividend of $0.05 per share. The ex-dividend date is Friday, September 13th. This represents a $0.20 dividend on an annualized basis and a yield of 1.56%. 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.