462,651 Shares in Leggett & Platt, Incorporated $LEG Purchased by Polar Asset Management Partners Inc.

Polar Asset Management Partners Inc. bought a new position in Leggett & Platt, Incorporated (NYSE:LEG) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 462,651 shares of the company’s stock, valued at approximately $5,418,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. BlackRock Inc. acquired a new position in Leggett & Platt during the 2nd quarter valued at about $265,194,000. Bank of New York Mellon Corp acquired a new stake in shares of Leggett & Platt in the second quarter valued at approximately $15,511,000. Lazard Asset Management LLC bought a new stake in shares of Leggett & Platt during the fourth quarter valued at approximately $11,297,000. Towle & Co. bought a new stake in shares of Leggett & Platt during the fourth quarter valued at approximately $10,484,000. Finally, Forest Avenue Capital Management LP boosted its position in shares of Leggett & Platt by 208.4% during the fourth quarter. Forest Avenue Capital Management LP now owns 1,233,534 shares of the company’s stock worth $13,569,000 after buying an additional 833,534 shares during the period. 64.23% of the stock is currently owned by institutional investors and hedge funds.

Leggett & Platt Price Performance

NYSE LEG opened at $9.34 on Wednesday. The stock has a market capitalization of $1.28 billion, a P/E ratio of 5.98 and a beta of 0.73. Leggett & Platt, Incorporated has a 1 year low of $8.34 and a 1 year high of $13.00. The business’s fifty day moving average is $10.57 and its two-hundred day moving average is $10.63. The company has a debt-to-equity ratio of 1.38, a quick ratio of 1.53 and a current ratio of 2.35.

Leggett & Platt (NYSE:LEG) last released its quarterly earnings data on Thursday, August 6th. The company reported $0.39 earnings per share for the quarter, topping the consensus estimate of $0.26 by $0.13. The business had revenue of $999.70 million during the quarter, compared to analyst estimates of $982.86 million. Leggett & Platt had a return on equity of 13.31% and a net margin of 5.64%.The company’s revenue was down 5.5% compared to the same quarter last year. During the same period last year, the company posted $0.30 EPS. On average, research analysts forecast that Leggett & Platt, Incorporated will post 1.05 earnings per share for the current fiscal year.

Leggett & Platt Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, August 24th. Investors of record on Monday, August 10th were given a $0.05 dividend. The ex-dividend date was Monday, August 10th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 2.1%. Leggett & Platt’s dividend payout ratio (DPR) is 12.82%.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on LEG shares. Truist Financial cut their target price on Leggett & Platt from $13.00 to $11.00 and set a “hold” rating on the stock in a research note on Friday, May 8th. Zacks Research upgraded shares of Leggett & Platt from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, August 19th. Weiss Ratings downgraded shares of Leggett & Platt from a “hold (c)” rating to a “hold (c-)” rating in a report on Wednesday, July 29th. Finally, Piper Sandler decreased their target price on shares of Leggett & Platt from $12.00 to $10.00 and set a “neutral” rating for the company in a research report on Wednesday, August 12th. One equities research analyst has rated the stock with a Strong Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat, Leggett & Platt has a consensus rating of “Hold” and an average target price of $10.67.

Leggett & Platt Company Profile

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.