Arizona State Retirement System Has $429,000 Stake in Leggett & Platt, Incorporated (NYSE:LEG)

Arizona State Retirement System lifted its holdings in shares of Leggett & Platt, Incorporated (NYSE:LEG) by 2.2% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 37,438 shares of the company’s stock after purchasing an additional 799 shares during the quarter. Arizona State Retirement System’s holdings in Leggett & Platt were worth $429,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the business. Treasurer of the State of North Carolina raised its holdings in 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 worth $1,538,000 after buying an additional 570 shares during the period. TFO Wealth Partners LLC raised its holdings in shares of Leggett & Platt by 10,833.3% during the fourth 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. New York State Teachers Retirement System lifted its position in Leggett & Platt by 0.4% in the 1st quarter. New York State Teachers Retirement System now owns 161,369 shares of the company’s stock valued at $3,090,000 after acquiring an additional 700 shares in the last quarter. Quadrant Capital Group LLC boosted 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 worth $56,000 after purchasing an additional 766 shares during the period. Finally, State of Michigan Retirement System increased its holdings 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 purchasing an additional 800 shares in the last quarter. Institutional investors own 64.23% of the company’s stock.

Wall Street Analyst Weigh In

LEG has been the topic of a number of research reports. The Goldman Sachs Group cut their price target on Leggett & Platt from $14.00 to $12.00 and set a “neutral” rating on the stock in a report on Wednesday, July 10th. Truist Financial boosted their target price on Leggett & Platt from $11.00 to $13.00 and gave the company a “hold” rating in a research note on Monday, August 5th. Finally, StockNews.com raised shares of Leggett & Platt from a “sell” rating to a “hold” rating in a research note on Wednesday, August 28th. One analyst has rated the stock with a sell rating and three have issued a hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $12.67.

Leggett & Platt Stock Up 0.4 %

NYSE:LEG opened at $12.90 on Wednesday. The firm has a market capitalization of $1.73 billion, a price-to-earnings ratio of -11.12 and a beta of 1.07. Leggett & Platt, Incorporated has a twelve month low of $10.11 and a twelve month high of $27.58. The stock’s 50 day moving average price is $12.44 and its two-hundred day moving average price is $14.15. The company has a quick ratio of 0.88, a current ratio of 1.53 and a debt-to-equity ratio of 2.55.

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

Leggett & Platt Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Friday, September 13th will be paid a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a yield of 1.55%. The ex-dividend date is Friday, September 13th. 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.