WBI Investments LLC Has $1.28 Million Position in Leggett & Platt, Incorporated (NYSE:LEG)

WBI Investments LLC raised its position in shares of Leggett & Platt, Incorporated (NYSE:LEG) by 61.4% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 48,792 shares of the company’s stock after purchasing an additional 18,562 shares during the quarter. WBI Investments LLC’s holdings in Leggett & Platt were worth $1,277,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of LEG. Ramirez Asset Management Inc. bought a new stake in Leggett & Platt in the third quarter worth $25,000. Fifth Third Bancorp boosted its holdings in Leggett & Platt by 253.3% in the fourth quarter. Fifth Third Bancorp now owns 1,007 shares of the company’s stock worth $26,000 after purchasing an additional 722 shares in the last quarter. GAMMA Investing LLC bought a new stake in Leggett & Platt during the fourth quarter valued at about $40,000. ORG Partners LLC bought a new stake in Leggett & Platt during the fourth quarter valued at about $49,000. Finally, Quadrant Capital Group LLC boosted its holdings in Leggett & Platt by 56.2% during the fourth quarter. Quadrant Capital Group LLC now owns 2,130 shares of the company’s stock valued at $56,000 after acquiring an additional 766 shares during the period. 64.23% of the stock is owned by institutional investors and hedge funds.

Leggett & Platt Trading Down 3.5 %

LEG stock traded down $0.39 during midday trading on Thursday, hitting $10.82. The company’s stock had a trading volume of 970,837 shares, compared to its average volume of 1,992,735. The company has a quick ratio of 0.89, a current ratio of 1.57 and a debt-to-equity ratio of 1.37. Leggett & Platt, Incorporated has a twelve month low of $10.73 and a twelve month high of $32.86. The company’s fifty day moving average price is $16.56 and its 200 day moving average price is $21.04.

Leggett & Platt (NYSE:LEG) last issued its quarterly earnings results on Tuesday, April 30th. The company reported $0.23 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.24 by ($0.01). Leggett & Platt had a negative net margin of 3.44% and a positive return on equity of 11.31%. The business had revenue of $1.10 billion during the quarter, compared to analyst estimates of $1.11 billion. During the same quarter in the previous year, the firm posted $0.39 earnings per share. The firm’s quarterly revenue was down 9.6% on a year-over-year basis. As a group, sell-side analysts anticipate that Leggett & Platt, Incorporated will post 1.13 EPS for the current year.

Leggett & Platt Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Investors of record on Friday, June 14th will be issued a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a dividend yield of 1.85%. The ex-dividend date of this dividend is Friday, June 14th. Leggett & Platt’s payout ratio is -158.62%.

Insider Buying and Selling

In other Leggett & Platt news, EVP Ryan Michael Kleiboeker acquired 10,000 shares of the business’s stock in a transaction on Thursday, May 2nd. The stock was purchased at an average price of $13.39 per share, with a total value of $133,900.00. Following the acquisition, the executive vice president now directly owns 41,535 shares of the company’s stock, valued at approximately $556,153.65. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 1.57% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on LEG shares. StockNews.com upgraded shares of Leggett & Platt from a “sell” rating to a “hold” rating in a report on Tuesday, May 7th. Piper Sandler dropped their price objective on shares of Leggett & Platt from $16.00 to $13.00 and set an “underweight” rating for the company in a report on Wednesday, May 1st. Truist Financial dropped their price objective on shares of Leggett & Platt from $16.00 to $13.00 and set a “hold” rating for the company in a report on Friday, May 3rd. TheStreet cut shares of Leggett & Platt from a “c” rating to a “d+” rating in a research note on Monday, March 11th. Finally, The Goldman Sachs Group decreased their price target on shares of Leggett & Platt from $20.00 to $14.00 and set a “neutral” rating on the stock in a research note on Thursday, May 2nd. One research analyst has rated the stock with a sell rating and three have issued a hold rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $13.33.

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.