Quantinno Capital Management LP Raises Stock Holdings in Leggett & Platt, Incorporated (NYSE:LEG)

Quantinno Capital Management LP lifted its holdings in shares of Leggett & Platt, Incorporated (NYSE:LEG) by 68.4% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 105,754 shares of the company’s stock after acquiring an additional 42,939 shares during the quarter. Quantinno Capital Management LP’s holdings in Leggett & Platt were worth $1,440,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently modified their holdings of the company. Arizona State Retirement System raised its stake in Leggett & Platt by 2.2% during the 2nd quarter. Arizona State Retirement System now owns 37,438 shares of the company’s stock valued at $429,000 after purchasing an additional 799 shares during the period. Allspring Global Investments Holdings LLC raised its position in Leggett & Platt by 76.3% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 2,043 shares of the company’s stock valued at $28,000 after purchasing an additional 884 shares in the last quarter. SteelPeak Wealth LLC raised its position in shares of Leggett & Platt by 10.2% in the 2nd quarter. SteelPeak Wealth LLC now owns 12,348 shares of the company’s stock worth $142,000 after acquiring an additional 1,140 shares in the last quarter. Applied Capital LLC FL grew its stake in Leggett & Platt by 5.4% during the 3rd quarter. Applied Capital LLC FL now owns 25,987 shares of the company’s stock worth $354,000 after buying an additional 1,327 shares during the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new stake in Leggett & Platt during the 3rd quarter valued at about $29,000. 64.23% of the stock is owned by hedge funds and other institutional investors.

Leggett & Platt Stock Performance

LEG opened at $11.51 on Friday. Leggett & Platt, Incorporated has a 1-year low of $10.11 and a 1-year high of $27.58. The company has a debt-to-equity ratio of 2.13, a current ratio of 1.48 and a quick ratio of 0.84. The stock’s 50 day simple moving average is $12.35 and its 200 day simple moving average is $12.28. The stock has a market cap of $1.55 billion, a P/E ratio of -1.91 and a beta of 1.07.

Leggett & Platt (NYSE:LEG) last issued its quarterly earnings results on Monday, October 28th. The company reported $0.32 earnings per share for the quarter, missing analysts’ consensus estimates of $0.33 by ($0.01). The business had revenue of $1.10 billion for the quarter, compared to analysts’ expectations of $1.10 billion. Leggett & Platt had a positive return on equity of 14.99% and a negative net margin of 18.53%. The company’s revenue for the quarter was down 6.3% compared to the same quarter last year. During the same period in the prior year, the company earned $0.36 EPS. As a group, equities analysts anticipate that Leggett & Platt, Incorporated will post 1.05 EPS for the current fiscal year.

Leggett & Platt Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Friday, December 13th will be paid a dividend of $0.05 per share. The ex-dividend date of this dividend is Friday, December 13th. This represents a $0.20 annualized dividend and a dividend yield of 1.74%. Leggett & Platt’s dividend payout ratio is presently -3.33%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the company. Piper Sandler raised Leggett & Platt from an “underweight” rating to a “neutral” rating and upped their price target for the stock from $11.00 to $13.00 in a report on Wednesday, October 30th. StockNews.com raised Leggett & Platt from a “sell” rating to a “hold” rating in a report on Wednesday, August 28th. Four research analysts have rated the stock with a hold rating, According to MarketBeat, Leggett & Platt currently has an average rating of “Hold” and an average target price of $12.67.

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.