Leggett & Platt, Incorporated (NYSE:LEG) Given Average Recommendation of “Reduce” by Brokerages
by Tristan Rich · The Markets DailyLeggett & Platt, Incorporated (NYSE:LEG – Get Free Report) has received a consensus recommendation of “Reduce” from the five ratings firms that are currently covering the firm, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating and four have given a hold rating to the company. The average twelve-month target price among brokerages that have issued a report on the stock in the last year is $11.6667.
LEG has been the topic of a number of recent research reports. Wall Street Zen downgraded Leggett & Platt from a “buy” rating to a “hold” rating in a research report on Saturday, February 21st. Weiss Ratings downgraded Leggett & Platt from a “hold (c-)” rating to a “sell (d+)” rating in a report on Monday, March 16th.
Get Our Latest Research Report on LEG
Leggett & Platt Trading Up 0.5%
Shares of Leggett & Platt stock opened at $12.05 on Tuesday. Leggett & Platt has a 1 year low of $6.93 and a 1 year high of $13.00. The company’s fifty day simple moving average is $10.80 and its 200-day simple moving average is $10.65. The company has a market cap of $1.64 billion, a price-to-earnings ratio of 7.14 and a beta of 0.74. The company has a current ratio of 2.25, a quick ratio of 1.45 and a debt-to-equity ratio of 1.46.
Leggett & Platt (NYSE:LEG – Get Free Report) last issued its quarterly earnings results on Wednesday, February 11th. The company reported $0.22 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.22. The firm had revenue of $938.60 million during the quarter, compared to the consensus estimate of $938.74 million. Leggett & Platt had a net margin of 5.80% and a return on equity of 15.00%. The business’s revenue was down 11.2% on a year-over-year basis. During the same period in the prior year, the firm earned $0.21 EPS. As a group, sell-side analysts expect that Leggett & Platt will post 1.08 EPS for the current year.
Leggett & Platt Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Wednesday, April 15th. Investors of record on Friday, March 13th were given a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.7%. The ex-dividend date was Friday, March 13th. Leggett & Platt’s dividend payout ratio (DPR) is currently 11.83%.
Institutional Investors Weigh In On Leggett & Platt
A number of hedge funds and other institutional investors have recently made changes to their positions in LEG. Hantz Financial Services Inc. increased its holdings in Leggett & Platt by 32.0% during the 4th quarter. Hantz Financial Services Inc. now owns 3,231 shares of the company’s stock worth $36,000 after purchasing an additional 783 shares in the last quarter. Optimize Financial Inc boosted its holdings in shares of Leggett & Platt by 1.5% in the 4th quarter. Optimize Financial Inc now owns 60,507 shares of the company’s stock valued at $666,000 after buying an additional 868 shares during the last quarter. Jones Financial Companies Lllp raised its position in shares of Leggett & Platt by 8.4% in the first quarter. Jones Financial Companies Lllp now owns 14,661 shares of the company’s stock valued at $116,000 after purchasing an additional 1,132 shares during the period. Nisa Investment Advisors LLC grew its position in shares of Leggett & Platt by 12.6% in the fourth quarter. Nisa Investment Advisors LLC now owns 10,271 shares of the company’s stock valued at $113,000 after purchasing an additional 1,152 shares during the last quarter. Finally, State of Alaska Department of Revenue lifted its holdings in shares of Leggett & Platt by 1.8% during the fourth quarter. State of Alaska Department of Revenue now owns 76,948 shares of the company’s stock worth $845,000 after buying an additional 1,338 shares in the last quarter. 64.23% of the stock is currently owned by institutional investors and hedge funds.
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.