Crestline Management LP Makes New $171,000 Investment in Leggett & Platt, Incorporated (NYSE:LEG)

Crestline Management LP acquired a new position in shares of Leggett & Platt, Incorporated (NYSE:LEG) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 17,846 shares of the company’s stock, valued at approximately $171,000.

A number of other institutional investors also recently modified their holdings of LEG. SRS Capital Advisors Inc. lifted its position in Leggett & Platt by 555.8% during the 4th quarter. SRS Capital Advisors Inc. now owns 3,102 shares of the company’s stock worth $30,000 after acquiring an additional 2,629 shares during the last quarter. SBI Securities Co. Ltd. acquired a new position in Leggett & Platt during the 4th quarter worth $50,000. KBC Group NV lifted its position in Leggett & Platt by 74.5% during the 4th quarter. KBC Group NV now owns 7,028 shares of the company’s stock worth $67,000 after acquiring an additional 3,000 shares during the last quarter. Sterling Capital Management LLC lifted its position in Leggett & Platt by 17.1% during the 4th quarter. Sterling Capital Management LLC now owns 7,972 shares of the company’s stock worth $77,000 after acquiring an additional 1,163 shares during the last quarter. Finally, Blue Trust Inc. lifted its position in Leggett & Platt by 461.6% during the 4th quarter. Blue Trust Inc. now owns 9,688 shares of the company’s stock worth $93,000 after acquiring an additional 7,963 shares during the last quarter. Institutional investors and hedge funds own 64.23% of the company’s stock.

Leggett & Platt Stock Performance

NYSE:LEG opened at $9.43 on Monday. The firm’s 50-day moving average is $7.97 and its 200-day moving average is $9.82. Leggett & Platt, Incorporated has a 52-week low of $6.48 and a 52-week high of $14.24. The company has a debt-to-equity ratio of 2.70, a quick ratio of 1.14 and a current ratio of 2.00. The company has a market cap of $1.27 billion, a price-to-earnings ratio of -2.53 and a beta of 0.75.

Leggett & Platt (NYSE:LEG) last posted its quarterly earnings data on Monday, April 28th. The company reported $0.24 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.23 by $0.01. Leggett & Platt had a negative net margin of 11.67% and a positive return on equity of 17.09%. The company had revenue of $1.02 billion for the quarter, compared to the consensus estimate of $1.02 billion. During the same quarter in the previous year, the firm posted $0.23 EPS. The business’s revenue was down 6.8% compared to the same quarter last year. Equities research analysts anticipate that Leggett & Platt, Incorporated will post 1.14 earnings per share for the current year.

Leggett & Platt Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Friday, June 13th will be given a $0.05 dividend. This represents a $0.20 annualized dividend and a yield of 2.12%. The ex-dividend date of this dividend is Friday, June 13th. Leggett & Platt’s dividend payout ratio (DPR) is presently -5.35%.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the stock. Piper Sandler reissued a “neutral” rating and set a $9.00 target price (down previously from $12.00) on shares of Leggett & Platt in a research report on Friday, April 11th. The Goldman Sachs Group boosted their target price on shares of Leggett & Platt from $8.00 to $9.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 30th. Finally, Truist Financial cut their target price on shares of Leggett & Platt from $13.00 to $11.00 and set a “hold” rating for the company in a research report on Wednesday, January 29th.

Leggett & Platt Profile

Leggett & Platt, Inc engages in the manufacture and distribution of furniture and engineered components and products among homes, offices, automobiles, and commercial aircraft. It operates through the following segments: Bedding Products, Specialized Products, and Furniture, Flooring & Textile Products.