Loudon Investment Management LLC Has $3.76 Million Position in Leggett & Platt, Incorporated (NYSE:LEG)

Loudon Investment Management LLC boosted its holdings in Leggett & Platt, Incorporated (NYSE:LEGGet Rating) by 16.1% during the 2nd quarter, HoldingsChannel.com reports. The fund owned 108,770 shares of the company’s stock after buying an additional 15,068 shares during the period. Leggett & Platt makes up 2.8% of Loudon Investment Management LLC’s investment portfolio, making the stock its 10th largest position. Loudon Investment Management LLC’s holdings in Leggett & Platt were worth $3,761,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of LEG. Regal Investment Advisors LLC grew its stake in shares of Leggett & Platt by 42.0% in the second quarter. Regal Investment Advisors LLC now owns 52,080 shares of the company’s stock worth $1,801,000 after acquiring an additional 15,400 shares during the period. Ronald Blue Trust Inc. purchased a new position in shares of Leggett & Platt in the 2nd quarter worth $43,000. Northern Trust Corp grew its holdings in shares of Leggett & Platt by 0.8% in the second quarter. Northern Trust Corp now owns 1,048,307 shares of the company’s stock worth $36,251,000 after acquiring an additional 8,591 shares during the period. LPL Financial LLC increased its position in Leggett & Platt by 15.4% during the second quarter. LPL Financial LLC now owns 101,860 shares of the company’s stock valued at $3,522,000 after acquiring an additional 13,586 shares during the last quarter. Finally, Kayne Anderson Rudnick Investment Management LLC lifted its holdings in Leggett & Platt by 5.5% in the second quarter. Kayne Anderson Rudnick Investment Management LLC now owns 313,965 shares of the company’s stock valued at $10,857,000 after acquiring an additional 16,327 shares during the period. Hedge funds and other institutional investors own 71.79% of the company’s stock.

Wall Street Analysts Forecast Growth

LEG has been the subject of several research reports. Truist Financial reduced their price target on shares of Leggett & Platt from $41.00 to $35.00 in a research report on Tuesday, October 11th. Piper Sandler dropped their price target on shares of Leggett & Platt from $37.00 to $31.00 in a research note on Tuesday, October 11th. StockNews.com upgraded Leggett & Platt from a “sell” rating to a “hold” rating in a research note on Tuesday, November 15th. The Goldman Sachs Group lowered their target price on Leggett & Platt from $45.00 to $40.00 and set a “buy” rating on the stock in a research report on Wednesday, October 12th. Finally, TheStreet cut Leggett & Platt from a “b-” rating to a “c+” rating in a research report on Thursday, October 20th. Three equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $39.00.

Leggett & Platt Price Performance

Shares of NYSE LEG traded up $0.57 during midday trading on Thursday, reaching $36.18. The stock had a trading volume of 5,202 shares, compared to its average volume of 614,597. The company has a debt-to-equity ratio of 1.37, a quick ratio of 1.06 and a current ratio of 2.07. Leggett & Platt, Incorporated has a 12-month low of $30.28 and a 12-month high of $43.89. The stock has a 50-day moving average of $33.88 and a 200-day moving average of $36.48. The company has a market capitalization of $4.80 billion, a price-to-earnings ratio of 13.44 and a beta of 1.26.

Leggett & Platt (NYSE:LEGGet Rating) last posted its quarterly earnings results on Monday, October 31st. The company reported $0.52 EPS for the quarter, beating analysts’ consensus estimates of $0.50 by $0.02. The business had revenue of $1.29 billion for the quarter, compared to analysts’ expectations of $1.23 billion. Leggett & Platt had a return on equity of 22.32% and a net margin of 6.86%. The business’s quarterly revenue was down 2.2% on a year-over-year basis. During the same period last year, the firm earned $0.71 earnings per share. As a group, research analysts anticipate that Leggett & Platt, Incorporated will post 2.36 EPS for the current fiscal year.

Leggett & Platt Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 13th. Shareholders of record on Thursday, December 15th will be issued a dividend of $0.44 per share. This represents a $1.76 dividend on an annualized basis and a yield of 4.86%. The ex-dividend date of this dividend is Wednesday, December 14th. Leggett & Platt’s dividend payout ratio (DPR) is currently 66.42%.

About Leggett & Platt

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Leggett & Platt, Incorporated designs, manufactures, and markets engineered components and products worldwide. It operates through three segments: Bedding Products; Specialized Products; and Furniture, Flooring & Textile Products. The company offers steel rods, drawn wires, foam chemicals and additives, innersprings, specialty foams, private label finished mattresses, mattress foundations, wire forms for mattress foundations, adjustable beds, industrial sewing and quilting machines, and mattress packaging and glue drying equipment, as well as machines to produce innersprings for industrial users of steel rods and wires, manufacturers of finished bedding, big box and e-commerce retailers, bedding brands and mattress retailers, department stores, and home improvement centers.

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Institutional Ownership by Quarter for Leggett & Platt (NYSE:LEG)

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