Carmignac Gestion Acquires Shares of 410,119 Leggett & Platt, Incorporated $LEG

Carmignac Gestion bought a new stake in shares of Leggett & Platt, Incorporated (NYSE:LEG) during the second quarter, HoldingsChannel reports. The firm bought 410,119 shares of the company’s stock, valued at approximately $4,802,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of LEG. Elevation Wealth Partners LLC increased its stake in shares of Leggett & Platt by 752.8% in the 2nd quarter. Elevation Wealth Partners LLC now owns 2,311 shares of the company’s stock worth $27,000 after acquiring an additional 2,040 shares in the last quarter. Palisade Asset Management LLC bought a new stake in Leggett & Platt during the third quarter worth about $29,000. Motiv8 Investments LLC purchased a new stake in Leggett & Platt in the fourth quarter worth about $34,000. Hantz Financial Services Inc. grew its holdings in Leggett & Platt by 32.0% in the fourth 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 bought a new position in shares of Leggett & Platt during the third quarter valued at approximately $51,000. 64.23% of the stock is owned by hedge funds and other institutional investors.

Leggett & Platt Stock Performance

Shares of NYSE:LEG remained flat at $9.20 during trading on Tuesday. The company’s 50-day moving average price is $10.21 and its 200-day moving average price is $10.44. Leggett & Platt, Incorporated has a one year low of $8.34 and a one year high of $13.00. The company has a current ratio of 2.35, a quick ratio of 1.53 and a debt-to-equity ratio of 1.38. The firm has a market capitalization of $1.26 billion, a PE ratio of 5.90 and a beta of 0.73.

Leggett & Platt (NYSE:LEG) last announced its quarterly earnings data on Thursday, August 6th. The company reported $0.39 earnings per share for the quarter, topping analysts’ consensus estimates of $0.26 by $0.13. Leggett & Platt had a net margin of 5.64% and a return on equity of 13.31%. The company had revenue of $999.70 million during the quarter, compared to analyst estimates of $982.86 million. During the same period in the previous year, the business earned $0.30 EPS. The firm’s revenue for the quarter was down 5.5% on a year-over-year basis. Equities research analysts forecast that Leggett & Platt, Incorporated will post 1.05 EPS for the current fiscal year.

Leggett & Platt Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, August 24th. Stockholders of record on Monday, August 10th were issued a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a dividend yield of 2.2%. The ex-dividend date of this dividend was Monday, August 10th. Leggett & Platt’s dividend payout ratio is presently 12.82%.

Analyst Upgrades and Downgrades

LEG has been the topic of a number of analyst reports. Weiss Ratings cut Leggett & Platt from a “hold (c)” rating to a “hold (c-)” rating in a research report on Wednesday, July 29th. Zacks Research raised Leggett & Platt from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, August 19th. Finally, Piper Sandler lowered their price objective on Leggett & Platt from $12.00 to $10.00 and set a “neutral” rating for the company in a research note on Wednesday, August 12th. One research analyst has rated the stock with a Strong Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat, Leggett & Platt has a consensus rating of “Hold” and a consensus target price of $10.67.

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.