Inspire Advisors LLC Purchases Shares of 88,519 Leggett & Platt, Incorporated (NYSE:LEG)

Inspire Advisors LLC acquired a new stake in shares of Leggett & Platt, Incorporated (NYSE:LEG) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 88,519 shares of the company’s stock, valued at approximately $1,014,000. Inspire Advisors LLC owned 0.07% of Leggett & Platt as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. Treasurer of the State of North Carolina raised its holdings in Leggett & Platt by 1.0% in the fourth quarter. Treasurer of the State of North Carolina now owns 58,754 shares of the company’s stock valued at $1,538,000 after buying an additional 570 shares during the period. TFO Wealth Partners LLC raised its stake in shares of Leggett & Platt by 10,833.3% in the 4th quarter. TFO Wealth Partners LLC now owns 656 shares of the company’s stock valued at $157,000 after acquiring an additional 650 shares during the period. New York State Teachers Retirement System lifted its holdings in shares of Leggett & Platt by 0.4% during the 1st quarter. New York State Teachers Retirement System now owns 161,369 shares of the company’s stock valued at $3,090,000 after acquiring an additional 700 shares in the last quarter. Quadrant Capital Group LLC boosted its position in Leggett & Platt by 56.2% during the 4th quarter. Quadrant Capital Group LLC now owns 2,130 shares of the company’s stock worth $56,000 after purchasing an additional 766 shares during the period. Finally, Arizona State Retirement System increased its holdings in Leggett & Platt by 2.2% in the 2nd quarter. Arizona State Retirement System now owns 37,438 shares of the company’s stock valued at $429,000 after purchasing an additional 799 shares in the last quarter. 64.23% of the stock is currently owned by institutional investors and hedge funds.

Leggett & Platt Trading Up 7.2 %

NYSE:LEG opened at $12.81 on Friday. The stock has a market cap of $1.72 billion, a price-to-earnings ratio of -11.04 and a beta of 1.07. Leggett & Platt, Incorporated has a one year low of $10.11 and a one year high of $27.58. The company has a debt-to-equity ratio of 2.55, a quick ratio of 0.88 and a current ratio of 1.53. The business’s 50-day simple moving average is $12.36 and its 200 day simple moving average is $14.34.

Leggett & Platt (NYSE:LEG) last released its earnings results on Thursday, August 1st. The company reported $0.29 EPS for the quarter, meeting the consensus estimate of $0.29. The company had revenue of $1.13 billion during the quarter, compared to analysts’ expectations of $1.13 billion. Leggett & Platt had a positive return on equity of 12.65% and a negative net margin of 18.05%. As a group, sell-side analysts predict that Leggett & Platt, Incorporated will post 1.14 earnings per share for the current fiscal year.

Leggett & Platt Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Friday, September 13th will be given a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.56%. The ex-dividend date of this dividend is Friday, September 13th. Leggett & Platt’s dividend payout ratio is presently -17.24%.

Analysts Set New Price Targets

A number of brokerages have commented on LEG. The Goldman Sachs Group reduced their price objective on Leggett & Platt from $14.00 to $12.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 10th. Truist Financial boosted their price target on Leggett & Platt from $11.00 to $13.00 and gave the stock a “hold” rating in a research report on Monday, August 5th. Finally, StockNews.com raised shares of Leggett & Platt from a “sell” rating to a “hold” rating in a research report on Wednesday, August 28th. One research analyst has rated the stock with a sell rating and three have issued a hold rating to the company’s stock. According to data from MarketBeat, Leggett & Platt presently has an average rating of “Hold” and an average target price of $12.67.

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.