Leggett & Platt, Incorporated (NYSE:LEG) Shares Bought by Mirae Asset Global Investments Co. Ltd.

Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of Leggett & Platt, Incorporated (NYSE:LEG) by 9.3% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 81,730 shares of the company’s stock after purchasing an additional 6,955 shares during the period. Mirae Asset Global Investments Co. Ltd. owned approximately 0.06% of Leggett & Platt worth $1,154,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. State Board of Administration of Florida Retirement System increased its position in Leggett & Platt by 6.6% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 149,692 shares of the company’s stock worth $2,867,000 after purchasing an additional 9,254 shares during the period. Wedmont Private Capital acquired a new position in Leggett & Platt during the 2nd quarter worth approximately $770,000. Seven Eight Capital LP acquired a new stake in shares of Leggett & Platt in the 2nd quarter worth approximately $1,948,000. Sequoia Financial Advisors LLC acquired a new stake in shares of Leggett & Platt in the 2nd quarter worth approximately $119,000. Finally, Maryland State Retirement & Pension System grew its holdings in shares of Leggett & Platt by 446.8% in the 2nd quarter. Maryland State Retirement & Pension System now owns 57,193 shares of the company’s stock worth $655,000 after acquiring an additional 46,733 shares during the period. Institutional investors and hedge funds own 64.23% of the company’s stock.

Leggett & Platt Trading Up 0.1 %

Shares of LEG opened at $12.02 on Friday. Leggett & Platt, Incorporated has a twelve month low of $10.11 and a twelve month high of $27.58. The firm has a market capitalization of $1.61 billion, a P/E ratio of -2.00 and a beta of 1.07. The company has a current ratio of 1.48, a quick ratio of 0.88 and a debt-to-equity ratio of 2.13. The stock’s fifty day simple moving average is $12.79 and its 200 day simple moving average is $12.82.

Leggett & Platt (NYSE:LEG) last announced its earnings results on Monday, October 28th. The company reported $0.32 earnings per share for the quarter, missing the consensus estimate of $0.33 by ($0.01). The business had revenue of $1.10 billion for the quarter, compared to analyst estimates of $1.10 billion. Leggett & Platt had a negative net margin of 18.53% and a positive return on equity of 14.99%. The firm’s revenue was down 6.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.36 earnings per share. On average, equities research analysts forecast that Leggett & Platt, Incorporated will post 1.04 earnings per share for the current year.

Leggett & Platt Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Friday, September 13th were given a dividend of $0.05 per share. The ex-dividend date was Friday, September 13th. This represents a $0.20 annualized dividend and a dividend yield of 1.66%. Leggett & Platt’s payout ratio is -3.33%.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on LEG. 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. The Goldman Sachs Group reduced their target price on Leggett & Platt from $14.00 to $12.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 10th. StockNews.com raised Leggett & Platt from a “sell” rating to a “hold” rating in a research note on Wednesday, August 28th. Finally, Piper Sandler raised Leggett & Platt from an “underweight” rating to a “neutral” rating and upped their target price for the company from $11.00 to $13.00 in a research note on Wednesday. Four equities research analysts have rated the stock with a hold rating, According to data from MarketBeat, Leggett & Platt presently has a consensus rating of “Hold” and an average price target of $12.67.

Leggett & Platt 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.