Atria Wealth Solutions Inc. Has $526,000 Stake in Leggett & Platt, Incorporated (NYSE:LEG)

Atria Wealth Solutions Inc. raised its holdings in Leggett & Platt, Incorporated (NYSE:LEG) by 126.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 19,979 shares of the company’s stock after buying an additional 11,167 shares during the period. Atria Wealth Solutions Inc.’s holdings in Leggett & Platt were worth $526,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its position in shares of Leggett & Platt by 0.9% in the third quarter. Vanguard Group Inc. now owns 12,946,981 shares of the company’s stock valued at $328,983,000 after acquiring an additional 117,499 shares during the last quarter. South Dakota Investment Council raised its stake in shares of Leggett & Platt by 52.9% during the 4th quarter. South Dakota Investment Council now owns 145,846 shares of the company’s stock worth $3,817,000 after purchasing an additional 50,438 shares in the last quarter. Fifth Third Bancorp boosted its holdings in shares of Leggett & Platt by 253.3% in the 4th quarter. Fifth Third Bancorp now owns 1,007 shares of the company’s stock valued at $26,000 after buying an additional 722 shares during the last quarter. Pacer Advisors Inc. grew its stake in shares of Leggett & Platt by 68.5% in the fourth quarter. Pacer Advisors Inc. now owns 1,934,905 shares of the company’s stock valued at $50,636,000 after buying an additional 786,297 shares in the last quarter. Finally, Invesco Ltd. increased its holdings in Leggett & Platt by 45.7% during the third quarter. Invesco Ltd. now owns 1,699,580 shares of the company’s stock worth $43,186,000 after buying an additional 532,780 shares during the last quarter. 64.23% of the stock is owned by institutional investors.

Analysts Set New Price Targets

LEG has been the subject of a number of recent analyst reports. The Goldman Sachs Group cut their price target on shares of Leggett & Platt from $20.00 to $14.00 and set a “neutral” rating for the company in a research note on Thursday. Truist Financial reduced their price target on Leggett & Platt from $16.00 to $13.00 and set a “hold” rating for the company in a report on Friday. Piper Sandler dropped their price objective on Leggett & Platt from $16.00 to $13.00 and set an “underweight” rating on the stock in a research note on Wednesday, May 1st. StockNews.com downgraded Leggett & Platt from a “hold” rating to a “sell” rating in a research note on Monday, March 11th. Finally, TheStreet cut Leggett & Platt from a “c” rating to a “d+” rating in a research note on Monday, March 11th. Two investment analysts have rated the stock with a sell rating and two have assigned a hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $13.33.

Insiders Place Their Bets

In other Leggett & Platt news, EVP Ryan Michael Kleiboeker purchased 10,000 shares of the company’s stock in a transaction dated Thursday, May 2nd. The stock was bought at an average cost of $13.39 per share, for a total transaction of $133,900.00. Following the completion of the transaction, the executive vice president now owns 41,535 shares in the company, valued at $556,153.65. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 1.57% of the company’s stock.

Leggett & Platt Price Performance

Shares of NYSE LEG opened at $13.95 on Monday. The firm has a market cap of $1.87 billion, a P/E ratio of -12.03 and a beta of 1.19. The business’s 50 day moving average is $18.63 and its 200-day moving average is $22.04. The company has a current ratio of 1.57, a quick ratio of 0.84 and a debt-to-equity ratio of 1.37. Leggett & Platt, Incorporated has a 1-year low of $11.02 and a 1-year high of $33.11.

Leggett & Platt (NYSE:LEG) last posted its quarterly earnings data on Tuesday, April 30th. The company reported $0.23 earnings per share for the quarter, missing the consensus estimate of $0.24 by ($0.01). Leggett & Platt had a positive return on equity of 11.31% and a negative net margin of 3.44%. The firm had revenue of $1.10 billion for the quarter, compared to the consensus estimate of $1.11 billion. During the same quarter in the previous year, the business earned $0.39 EPS. The firm’s quarterly revenue was down 9.6% on a year-over-year basis. Equities research analysts predict that Leggett & Platt, Incorporated will post 1.14 earnings per share for the current year.

Leggett & Platt Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Friday, June 14th will be issued a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a yield of 1.43%. The ex-dividend date is Friday, June 14th. Leggett & Platt’s dividend payout ratio is currently -158.62%.

Leggett & Platt Company 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.