Impact Partnership Wealth LLC Invests $225,000 in Leggett & Platt, Incorporated (NYSE:LEG)

Impact Partnership Wealth LLC purchased a new position in Leggett & Platt, Incorporated (NYSE:LEG - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 23,418 shares of the company's stock, valued at approximately $225,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in LEG. Allspring Global Investments Holdings LLC lifted its position in shares of Leggett & Platt by 76.3% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 2,043 shares of the company's stock worth $28,000 after purchasing an additional 884 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of Leggett & Platt during the 3rd quarter worth about $29,000. Point72 Hong Kong Ltd acquired a new position in shares of Leggett & Platt during the 3rd quarter worth about $37,000. nVerses Capital LLC purchased a new position in shares of Leggett & Platt in the 3rd quarter valued at about $41,000. Finally, Brooklyn Investment Group acquired a new stake in shares of Leggett & Platt during the 3rd quarter worth about $44,000. Institutional investors and hedge funds own 64.23% of the company's stock.

Leggett & Platt Stock Performance

LEG traded down $0.07 during trading on Friday, hitting $10.71. 1,112,720 shares of the stock were exchanged, compared to its average volume of 1,449,466. The firm has a market capitalization of $1.44 billion, a P/E ratio of -1.78 and a beta of 1.11. Leggett & Platt, Incorporated has a 1-year low of $9.18 and a 1-year high of $24.30. The stock has a fifty day moving average price of $10.86 and a two-hundred day moving average price of $12.01. The company has a quick ratio of 0.84, a current ratio of 1.48 and a debt-to-equity ratio of 2.13.

Leggett & Platt (NYSE:LEG - Get Free Report) last issued its quarterly earnings results on Monday, October 28th. The company reported $0.32 earnings per share for the quarter, missing analysts' consensus estimates of $0.33 by ($0.01). Leggett & Platt had a positive return on equity of 14.99% and a negative net margin of 18.53%. The business had revenue of $1.10 billion for the quarter, compared to analyst estimates of $1.10 billion. During the same quarter in the prior year, the company earned $0.36 EPS. The firm's revenue for the quarter was down 6.3% on a year-over-year basis. As a group, sell-side analysts predict that Leggett & Platt, Incorporated will post 1.05 earnings per share for the current year.

Leggett & Platt Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Friday, December 13th were given a dividend of $0.05 per share. The ex-dividend date of this dividend was Friday, December 13th. This represents a $0.20 dividend on an annualized basis and a yield of 1.87%. Leggett & Platt's payout ratio is -3.33%.

Analysts Set New Price Targets

Several brokerages have commented on LEG. Piper Sandler upgraded shares of Leggett & Platt from an "underweight" rating to a "neutral" rating and increased their price target for the company from $11.00 to $13.00 in a research note on Wednesday, October 30th. The Goldman Sachs Group dropped their target price on shares of Leggett & Platt from $14.00 to $12.00 and set a "neutral" rating on the stock in a research report on Tuesday, January 14th. Four investment analysts have rated the stock with a hold rating, Based on data from MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $12.67.

About Leggett & Platt

Leggett & Platt, Inc engages in the manufacture and distribution of furniture and engineered components and products among homes, offices, automobiles, and commercial aircraft. It operates through the following segments: Bedding Products, Specialized Products, and Furniture, Flooring & Textile Products.