Louisiana State Employees Retirement System Acquires Shares of 37,400 Leggett & Platt, Incorporated (NYSE:LEG)

Louisiana State Employees Retirement System acquired a new stake in Leggett & Platt, Incorporated (NYSE:LEG) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 37,400 shares of the company’s stock, valued at approximately $979,000.

Other hedge funds also recently added to or reduced their stakes in the company. Ramirez Asset Management Inc. acquired a new stake in shares of Leggett & Platt during the third quarter valued at about $25,000. Fifth Third Bancorp grew its stake in shares of Leggett & Platt by 253.3% during the fourth quarter. Fifth Third Bancorp now owns 1,007 shares of the company’s stock valued at $26,000 after acquiring an additional 722 shares in the last quarter. Hexagon Capital Partners LLC grew its stake in shares of Leggett & Platt by 67.5% during the third quarter. Hexagon Capital Partners LLC now owns 1,930 shares of the company’s stock valued at $49,000 after acquiring an additional 778 shares in the last quarter. ORG Partners LLC acquired a new stake in shares of Leggett & Platt during the fourth quarter valued at about $49,000. Finally, Covestor Ltd grew its stake in shares of Leggett & Platt by 17.6% during the third quarter. Covestor Ltd now owns 3,575 shares of the company’s stock valued at $91,000 after acquiring an additional 535 shares in the last quarter. 64.23% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

LEG has been the subject of several recent analyst reports. StockNews.com downgraded Leggett & Platt from a “hold” rating to a “sell” rating in a research note on Monday, March 11th. TheStreet downgraded Leggett & Platt from a “c” rating to a “d+” rating in a research note on Monday, March 11th. Finally, Truist Financial decreased their price target on Leggett & Platt from $18.00 to $16.00 and set a “hold” rating for the company in a research note on Tuesday, March 26th. Two equities research analysts have rated the stock with a sell rating and two have given a hold rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $19.33.

Leggett & Platt Stock Performance

Shares of LEG stock opened at $18.20 on Thursday. The company has a quick ratio of 0.84, a current ratio of 1.49 and a debt-to-equity ratio of 1.26. The business has a 50 day moving average of $19.23 and a two-hundred day moving average of $22.52. Leggett & Platt, Incorporated has a 52 week low of $17.19 and a 52 week high of $33.50. The company has a market cap of $2.43 billion, a P/E ratio of -18.20 and a beta of 1.17.

Leggett & Platt (NYSE:LEG) last issued its earnings results on Friday, February 9th. The company reported $0.26 EPS for the quarter, missing analysts’ consensus estimates of $0.27 by ($0.01). Leggett & Platt had a negative net margin of 2.90% and a positive return on equity of 11.99%. The company had revenue of $1.12 billion during the quarter, compared to analyst estimates of $1.11 billion. During the same quarter in the previous year, the firm earned $0.39 earnings per share. The business’s revenue was down 6.7% on a year-over-year basis. As a group, analysts anticipate that Leggett & Platt, Incorporated will post 1.17 EPS for the current year.

Leggett & Platt Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Friday, March 15th were issued a dividend of $0.46 per share. The ex-dividend date was Thursday, March 14th. This represents a $1.84 dividend on an annualized basis and a dividend yield of 10.11%. Leggett & Platt’s dividend payout ratio (DPR) is presently -184.00%.

Leggett & Platt Profile

Leggett & Platt, Incorporated designs, manufactures, and sells engineered components and products in the United States, Europe, China, Canada, Mexico, and internationally. It operates through three segments: Bedding Products; Specialized Products; and Furniture, Flooring & Textile Products. The company offers steel rods, drawn wires, specialty foam chemicals and additives, innersprings, specialty foam for use in bedding and furniture, private label finished mattresses, ready-to-assemble mattress foundations, static foundations, and adjustable beds, as well as machines for producing innersprings; industrial sewing and quilting machines; mattress-packaging; and glue-drying equipment for various industrial users of steel rod and wire, manufacturers of finished bedding, bedding brands and mattress retailers, E-commerce retailers, big box retailers, department stores, and home improvement centers.