Leggett & Platt, Incorporated (NYSE:LEG) Given Consensus Rating of “Hold” by Brokerages

Leggett & Platt, Incorporated (NYSE:LEG) has earned an average recommendation of “Hold” from the five ratings firms that are covering the stock, Marketbeat reports. Five analysts have rated the stock with a hold rating. The average twelve-month target price among brokers that have covered the stock in the last year is $11.3333.

A number of brokerages have commented on LEG. Weiss Ratings downgraded shares of Leggett & Platt from a “hold (c)” rating to a “hold (c-)” rating in a research note on Wednesday, July 29th. Zacks Research raised shares of Leggett & Platt from a “strong sell” rating to a “hold” rating in a research note on Monday, July 20th. Finally, Truist Financial cut their price target on shares of Leggett & Platt from $13.00 to $11.00 and set a “hold” rating for the company in a report on Friday, May 8th.

Leggett & Platt Stock Performance

Shares of Leggett & Platt stock opened at $10.01 on Thursday. Leggett & Platt has a one year low of $7.86 and a one year high of $13.00. The company has a market cap of $1.37 billion, a price-to-earnings ratio of 6.21 and a beta of 0.73. The company has a debt-to-equity ratio of 1.44, a quick ratio of 1.45 and a current ratio of 2.33. The business’s 50 day moving average price is $10.78 and its 200 day moving average price is $10.93.

Leggett & Platt (NYSE:LEG) last issued its earnings results on Thursday, May 7th. The company reported $0.15 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.26 by ($0.11). Leggett & Platt had a net margin of 5.69% and a return on equity of 12.62%. The company had revenue of $918.20 million during the quarter, compared to analysts’ expectations of $946.79 million. During the same quarter in the previous year, the company earned $0.24 earnings per share. The firm’s quarterly revenue was down 10.2% compared to the same quarter last year. On average, research analysts predict that Leggett & Platt will post 0.9 EPS for the current year.

Leggett & Platt Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, August 24th. Investors of record on Monday, August 10th will be given a $0.05 dividend. This represents a $0.20 annualized dividend and a yield of 2.0%. The ex-dividend date is Monday, August 10th. Leggett & Platt’s dividend payout ratio is presently 12.42%.

Institutional Investors Weigh In On Leggett & Platt

A number of institutional investors and hedge funds have recently added to or reduced their stakes in LEG. Elevation Wealth Partners LLC grew its holdings in shares of Leggett & Platt by 752.8% during the 2nd quarter. Elevation Wealth Partners LLC now owns 2,311 shares of the company’s stock worth $27,000 after purchasing an additional 2,040 shares during the period. Motiv8 Investments LLC purchased a new stake in shares of Leggett & Platt in the 4th quarter valued at $34,000. Palisade Asset Management LLC purchased a new stake in Leggett & Platt during the third quarter worth about $29,000. Hantz Financial Services Inc. increased its stake in Leggett & Platt by 32.0% during the 4th quarter. Hantz Financial Services Inc. now owns 3,231 shares of the company’s stock worth $36,000 after buying an additional 783 shares during the period. Finally, Advisory Services Network LLC purchased a new stake in shares of Leggett & Platt during the third quarter worth $51,000. Hedge funds and other institutional investors own 64.23% of the company’s stock.

About Leggett & Platt

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.