Inspire Advisors LLC Has $1.75 Million Holdings in Leggett & Platt, Incorporated (NYSE:LEG)

Inspire Advisors LLC lifted its holdings in Leggett & Platt, Incorporated (NYSE:LEG) by 45.0% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 128,309 shares of the company’s stock after acquiring an additional 39,790 shares during the quarter. Inspire Advisors LLC owned approximately 0.10% of Leggett & Platt worth $1,748,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of the business. Pacer Advisors Inc. boosted its holdings in shares of Leggett & Platt by 426.2% in the 2nd quarter. Pacer Advisors Inc. now owns 14,042,134 shares of the company’s stock worth $160,923,000 after acquiring an additional 11,373,507 shares in the last quarter. Vanguard Group Inc. raised its position in Leggett & Platt by 0.4% in the 4th quarter. Vanguard Group Inc. now owns 12,996,067 shares of the company’s stock worth $340,107,000 after purchasing an additional 49,086 shares during the last quarter. AQR Capital Management LLC raised its position in Leggett & Platt by 1,098.0% in the 2nd quarter. AQR Capital Management LLC now owns 2,005,408 shares of the company’s stock worth $22,160,000 after purchasing an additional 1,838,009 shares during the last quarter. ProShare Advisors LLC raised its position in Leggett & Platt by 1.0% in the 1st quarter. ProShare Advisors LLC now owns 1,284,654 shares of the company’s stock worth $24,601,000 after purchasing an additional 12,502 shares during the last quarter. Finally, Principal Financial Group Inc. raised its position in Leggett & Platt by 31.0% in the 2nd quarter. Principal Financial Group Inc. now owns 658,117 shares of the company’s stock worth $7,542,000 after purchasing an additional 155,860 shares during the last quarter. 64.23% of the stock is owned by institutional investors and hedge funds.

Leggett & Platt Trading Up 0.1 %

Shares of LEG traded up $0.02 during trading hours on Friday, reaching $13.48. The stock had a trading volume of 134,905 shares, compared to its average volume of 2,327,155. The company has a quick ratio of 0.88, a current ratio of 1.53 and a debt-to-equity ratio of 2.55. Leggett & Platt, Incorporated has a 52 week low of $10.11 and a 52 week high of $27.58. The firm has a 50-day moving average of $12.76 and a 200 day moving average of $13.24. The company has a market cap of $1.81 billion, a P/E ratio of -11.62 and a beta of 1.07.

Leggett & Platt (NYSE:LEG) last announced its earnings results on Thursday, August 1st. The company reported $0.29 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.29. The firm had revenue of $1.13 billion during the quarter, compared to analyst estimates of $1.13 billion. Leggett & Platt had a negative net margin of 18.05% and a positive return on equity of 12.65%. On average, sell-side analysts expect that Leggett & Platt, Incorporated will post 1.14 earnings per share for the current fiscal year.

Leggett & Platt Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Friday, September 13th were paid a dividend of $0.05 per share. The ex-dividend date was Friday, September 13th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.48%. Leggett & Platt’s dividend payout ratio is -17.24%.

Analyst Upgrades and Downgrades

LEG has been the subject of several research analyst reports. StockNews.com upgraded shares of Leggett & Platt from a “sell” rating to a “hold” rating in a research report on Wednesday, August 28th. Truist Financial upped their target price on shares of Leggett & Platt from $11.00 to $13.00 and gave the company a “hold” rating in a research report on Monday, August 5th. Finally, The Goldman Sachs Group dropped their target price on shares of Leggett & Platt from $14.00 to $12.00 and set a “neutral” rating for the company in a research report on Wednesday, July 10th. One equities research analyst has rated the stock with a sell rating and three have given a hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $12.67.

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.