Leggett & Platt, Incorporated (NYSE:LEG) Receives Average Rating of “Reduce” from Brokerages

Leggett & Platt, Incorporated (NYSE:LEG) has been assigned a consensus rating of “Reduce” from the five research firms that are covering the company, MarketBeat reports. One analyst has rated the stock with a sell rating and four have given a hold rating to the company. The average 12 month price target among analysts that have issued ratings on the stock in the last year is $11.3333.

Several research firms have issued reports on LEG. Zacks Research cut shares of Leggett & Platt from a “hold” rating to a “strong sell” rating in a research report on Thursday. Wall Street Zen cut shares of Leggett & Platt from a “buy” rating to a “hold” rating in a research report on Saturday, February 21st. Truist Financial lowered their price objective on shares of Leggett & Platt from $13.00 to $11.00 and set a “hold” rating for the company in a research report on Friday, May 8th. Finally, Weiss Ratings raised shares of Leggett & Platt from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Friday, May 1st.

Institutional Investors Weigh In On Leggett & Platt

Several large investors have recently added to or reduced their stakes in LEG. Palisade Asset Management LLC purchased a new stake in shares of Leggett & Platt in the 3rd quarter worth approximately $29,000. Quent Capital LLC purchased a new stake in shares of Leggett & Platt in the 3rd quarter worth approximately $34,000. Motiv8 Investments LLC purchased a new stake in shares of Leggett & Platt in the 4th quarter worth approximately $34,000. Hantz Financial Services Inc. lifted its position in shares of Leggett & Platt by 32.0% in the 4th quarter. Hantz Financial Services Inc. now owns 3,231 shares of the company’s stock worth $36,000 after purchasing an additional 783 shares during the period. Finally, Advisory Services Network LLC purchased a new stake in shares of Leggett & Platt in the 3rd quarter worth approximately $51,000. 64.23% of the stock is owned by hedge funds and other institutional investors.

Leggett & Platt Price Performance

LEG stock opened at $9.17 on Friday. Leggett & Platt has a 12 month low of $7.86 and a 12 month high of $13.00. The company has a current ratio of 2.33, a quick ratio of 1.45 and a debt-to-equity ratio of 1.44. The company has a 50-day moving average price of $10.41 and a 200 day moving average price of $10.84. The stock has a market cap of $1.25 billion, a PE ratio of 5.69 and a beta of 0.75.

Leggett & Platt (NYSE:LEG) last released its quarterly earnings data on Thursday, May 7th. The company reported $0.15 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.26 by ($0.11). The company had revenue of $918.20 million during the quarter, compared to analysts’ expectations of $946.79 million. Leggett & Platt had a net margin of 5.69% and a return on equity of 12.62%. Leggett & Platt’s quarterly revenue was down 10.2% on a year-over-year basis. During the same period last year, the firm earned $0.24 earnings per share. Equities research analysts anticipate that Leggett & Platt will post 0.97 earnings per share for the current year.

Leggett & Platt Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, April 15th. Shareholders of record on Friday, March 13th were given a $0.05 dividend. This represents a $0.20 annualized dividend and a yield of 2.2%. The ex-dividend date of this dividend was Friday, March 13th. Leggett & Platt’s payout ratio is 12.42%.

About Leggett & Platt

Leggett & Platt, Inc is a diversified manufacturer specializing in the design, engineering and production of a wide range of engineered components and products. The company’s offerings span several end markets, including residential bedding, commercial and residential furniture, automotive seating and interiors, aerospace applications and industrial products. By integrating product design with proprietary manufacturing processes, Leggett & Platt serves as a key supplier to both original equipment manufacturers and aftermarket distributors.

The company’s core product lines include coil springs and support systems for mattresses and furniture, adjustable bed mechanisms, engineered components such as extruded and formed metal products, and specialty foam and bedding products.