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May 25, 2023

Clear Street Markets LLC Makes New Investment in Leggett & Platt, Incorporated (NYSE:LEG)

Clear Street Markets LLC purchased a new stake in shares of Leggett & Platt,

Clear Street Markets LLC purchased a new stake in shares of Leggett & Platt, Incorporated (NYSE:LEG - Get Rating) in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 8,908 shares of the company's stock, valued at approximately $287,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in LEG. Neo Ivy Capital Management bought a new position in Leggett & Platt in the 3rd quarter worth approximately $26,000. Accurate Wealth Management LLC bought a new position in shares of Leggett & Platt during the 4th quarter worth $45,000. Boyd Watterson Asset Management LLC OH bought a new position in shares of Leggett & Platt during the 4th quarter worth $47,000. Disciplined Investments LLC grew its position in shares of Leggett & Platt by 474.7% during the 4th quarter. Disciplined Investments LLC now owns 1,523 shares of the company's stock worth $49,000 after buying an additional 1,258 shares in the last quarter. Finally, Geneos Wealth Management Inc. boosted its position in Leggett & Platt by 18.9% during the first quarter. Geneos Wealth Management Inc. now owns 1,915 shares of the company's stock valued at $66,000 after purchasing an additional 305 shares in the last quarter. Hedge funds and other institutional investors own 69.42% of the company's stock.

Several research analysts have recently issued reports on the company. StockNews.com assumed coverage on Leggett & Platt in a research note on Thursday, May 18th. They issued a "hold" rating for the company. The Goldman Sachs Group cut Leggett & Platt from a "buy" rating to a "neutral" rating and reduced their price target for the company from $39.00 to $34.00 in a research report on Tuesday, April 11th.

In other news, Director Phoebe A. Wood sold 6,000 shares of the company's stock in a transaction dated Tuesday, May 23rd. The stock was sold at an average price of $32.61, for a total transaction of $195,660.00. Following the completion of the transaction, the director now directly owns 53,109 shares of the company's stock, valued at approximately $1,731,884.49. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 1.57% of the stock is owned by company insiders.

Shares of NYSE:LEG opened at $31.82 on Friday. The company has a debt-to-equity ratio of 1.27, a current ratio of 2.08 and a quick ratio of 1.16. The business's 50 day moving average price is $31.81 and its 200-day moving average price is $33.08. The firm has a market capitalization of $4.24 billion, a PE ratio of 16.10 and a beta of 1.30. Leggett & Platt, Incorporated has a 1 year low of $30.05 and a 1 year high of $41.94.

Leggett & Platt (NYSE:LEG - Get Rating) last released its quarterly earnings data on Monday, May 1st. The company reported $0.39 earnings per share for the quarter, topping analysts' consensus estimates of $0.26 by $0.13. Leggett & Platt had a return on equity of 16.83% and a net margin of 5.42%. The company had revenue of $1.21 billion for the quarter, compared to analyst estimates of $1.19 billion. During the same quarter in the previous year, the company posted $0.66 earnings per share. The firm's revenue for the quarter was down 8.2% compared to the same quarter last year. As a group, equities research analysts expect that Leggett & Platt, Incorporated will post 1.61 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Friday, July 14th. Shareholders of record on Thursday, June 15th will be issued a dividend of $0.46 per share. This is an increase from Leggett & Platt's previous quarterly dividend of $0.44. The ex-dividend date of this dividend is Wednesday, June 14th. This represents a $1.84 annualized dividend and a yield of 5.78%. Leggett & Platt's dividend payout ratio is 88.00%.

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, private label finished mattresses, 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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