Segall Bryant & Hamill LLC Acquires Shares of 110,927 Leggett & Platt, Incorporated $LEG

Segall Bryant & Hamill LLC acquired a new stake in Leggett & Platt, Incorporated (NYSE:LEG) during the 1st quarter, Holdings Channel.com reports. The fund acquired 110,927 shares of the company’s stock, valued at approximately $1,096,000.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Palisade Asset Management LLC acquired a new position in Leggett & Platt during the third quarter valued at $29,000. Motiv8 Investments LLC acquired a new stake in Leggett & Platt during the 4th quarter worth about $34,000. Hantz Financial Services Inc. grew its position in Leggett & Platt by 32.0% during 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. Advisory Services Network LLC purchased a new position in shares of Leggett & Platt during the 3rd quarter valued at about $51,000. Finally, Kingdom Financial Group LLC. acquired a new position in shares of Leggett & Platt in the 4th quarter valued at about $66,000. Institutional investors and hedge funds own 64.23% of the company’s stock.

Leggett & Platt Price Performance

NYSE:LEG opened at $10.29 on Thursday. The stock has a 50 day moving average of $10.79 and a two-hundred day moving average of $10.90. Leggett & Platt, Incorporated has a 12 month low of $8.32 and a 12 month high of $13.00. The firm has a market cap of $1.40 billion, a P/E ratio of 6.39 and a beta of 0.73. The company has a current ratio of 2.33, a quick ratio of 1.45 and a debt-to-equity ratio of 1.44.

Leggett & Platt (NYSE:LEG) last released its earnings results on Thursday, May 7th. The company reported $0.15 earnings per share for the quarter, missing the consensus estimate of $0.26 by ($0.11). The firm 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%. The business’s revenue was down 10.2% compared to the same quarter last year. During the same quarter last year, the business earned $0.24 EPS. On average, analysts expect that Leggett & Platt, Incorporated will post 0.9 earnings per share for the current fiscal year.

Leggett & Platt Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, August 24th. Investors of record on Monday, August 10th will be paid a $0.05 dividend. This represents a $0.20 annualized dividend and a yield of 1.9%. The ex-dividend date of this dividend is Monday, August 10th. Leggett & Platt’s dividend payout ratio is currently 12.42%.

Wall Street Analyst Weigh In

Several analysts recently commented on LEG shares. Truist Financial dropped their target price on Leggett & Platt from $13.00 to $11.00 and set a “hold” rating on the stock in a report on Friday, May 8th. Zacks Research raised shares of Leggett & Platt from a “strong sell” rating to a “hold” rating in a research note on Monday, July 20th. Finally, Weiss Ratings cut shares of Leggett & Platt from a “hold (c)” rating to a “hold (c-)” rating in a research note on Wednesday, July 29th. Five research analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $11.33.

Leggett & Platt Company Profile

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.