Loudon Investment Management LLC Increases Stock Holdings in Leggett & Platt, Incorporated (NYSE:LEG)

Loudon Investment Management LLC increased its holdings in shares of Leggett & Platt, Incorporated (NYSE:LEG) by 6.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 50,971 shares of the company’s stock after buying an additional 2,941 shares during the quarter. Loudon Investment Management LLC’s holdings in Leggett & Platt were worth $1,295,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. Ramirez Asset Management Inc. acquired a new position in shares of Leggett & Platt during the 3rd quarter valued at about $25,000. Fifth Third Bancorp raised its stake in Leggett & Platt by 253.3% during 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 during the period. GAMMA Investing LLC acquired a new position in shares of Leggett & Platt in the 4th quarter valued at $40,000. Hexagon Capital Partners LLC boosted its holdings in shares of Leggett & Platt by 67.5% in the 3rd quarter. Hexagon Capital Partners LLC now owns 1,930 shares of the company’s stock valued at $49,000 after purchasing an additional 778 shares during the last quarter. Finally, ORG Partners LLC purchased a new stake in shares of Leggett & Platt during the 4th quarter valued at $49,000. 64.23% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages recently weighed in on LEG. The Goldman Sachs Group cut their target price on Leggett & Platt from $20.00 to $14.00 and set a “neutral” rating on the stock in a research report on Thursday. Truist Financial cut their price objective on Leggett & Platt from $18.00 to $16.00 and set a “hold” rating on the stock in a report on Tuesday, March 26th. TheStreet cut Leggett & Platt from a “c” rating to a “d+” rating in a report on Monday, March 11th. Piper Sandler cut their price target on shares of Leggett & Platt from $16.00 to $13.00 and set an “underweight” rating on the stock in a report on Wednesday. Finally, StockNews.com cut shares of Leggett & Platt from a “hold” rating to a “sell” rating in a research report on Monday, March 11th. Two analysts have rated the stock with a sell rating and two have assigned a hold rating to the stock. According to data from MarketBeat.com, Leggett & Platt has an average rating of “Hold” and a consensus price target of $14.33.

Leggett & Platt Stock Up 2.6 %

Shares of LEG traded up $0.35 during midday trading on Thursday, reaching $13.60. 5,581,466 shares of the company were exchanged, compared to its average volume of 1,864,180. Leggett & Platt, Incorporated has a 1-year low of $11.02 and a 1-year high of $33.11. The stock has a 50-day moving average price of $18.90 and a 200-day moving average price of $22.21. The company has a current ratio of 1.49, a quick ratio of 0.84 and a debt-to-equity ratio of 1.26. The company has a market cap of $1.82 billion, a price-to-earnings ratio of -11.69 and a beta of 1.19.

Leggett & Platt (NYSE:LEG) last announced its earnings results on Tuesday, April 30th. The company reported $0.23 EPS for the quarter, missing the consensus estimate of $0.24 by ($0.01). The company had revenue of $1.10 billion for the quarter, compared to analysts’ expectations of $1.11 billion. Leggett & Platt had a negative net margin of 3.44% and a positive return on equity of 10.84%. The business’s quarterly revenue was down 9.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.39 earnings per share. Research analysts expect that Leggett & Platt, Incorporated will post 1.17 earnings per share for the current year.

Leggett & Platt Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Friday, June 14th will be paid a $0.05 dividend. The ex-dividend date of this dividend is Friday, June 14th. This represents a $0.20 annualized dividend and a dividend yield of 1.47%. Leggett & Platt’s dividend payout ratio (DPR) is presently -158.62%.

Leggett & Platt Company 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.