Creative Planning Raises Holdings in Leggett & Platt, Incorporated (NYSE:LEG)

Creative Planning grew its holdings in Leggett & Platt, Incorporated (NYSE:LEG - Free Report) by 371.1% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 121,888 shares of the company's stock after purchasing an additional 96,015 shares during the quarter. Creative Planning owned approximately 0.09% of Leggett & Platt worth $1,397,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of the business. Algert Global LLC bought a new position in shares of Leggett & Platt in the 2nd quarter worth $393,000. Scientech Research LLC purchased a new position in Leggett & Platt in the second quarter valued at about $650,000. AQR Capital Management LLC raised its holdings in Leggett & Platt by 1,098.0% in the second 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 in the last quarter. Bank of Montreal Can lifted its position in shares of Leggett & Platt by 14.7% during the second quarter. Bank of Montreal Can now owns 103,703 shares of the company's stock valued at $1,194,000 after buying an additional 13,280 shares during the last quarter. Finally, Public Sector Pension Investment Board bought a new stake in shares of Leggett & Platt in the 2nd quarter valued at about $3,380,000. Hedge funds and other institutional investors own 64.23% of the company's stock.

Leggett & Platt Stock Performance

NYSE:LEG traded down $0.22 during trading hours on Wednesday, hitting $12.89. 1,716,571 shares of the company were exchanged, compared to its average volume of 2,378,611. The company has a debt-to-equity ratio of 2.55, a current ratio of 1.53 and a quick ratio of 0.88. Leggett & Platt, Incorporated has a 52-week low of $10.11 and a 52-week high of $27.58. The stock has a market capitalization of $1.73 billion, a price-to-earnings ratio of -11.11 and a beta of 1.07. The company's 50 day moving average price is $12.72 and its 200-day moving average price is $13.44.

Leggett & Platt (NYSE:LEG - Get Free Report) last announced its quarterly earnings data on Thursday, August 1st. The company reported $0.29 earnings per share for the quarter, meeting analysts' consensus estimates of $0.29. The firm had revenue of $1.13 billion for 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%. As a group, research analysts forecast that Leggett & Platt, Incorporated will post 1.14 earnings per share for the current year.

Leggett & Platt Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Friday, September 13th will be issued a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.55%. The ex-dividend date is Friday, September 13th. Leggett & Platt's dividend payout ratio (DPR) is -17.24%.

Analyst Ratings Changes

A number of equities research analysts recently commented on LEG shares. The Goldman Sachs Group decreased 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. StockNews.com upgraded Leggett & Platt from a "sell" rating to a "hold" rating in a report on Wednesday, August 28th. Finally, Truist Financial boosted their target price on Leggett & Platt from $11.00 to $13.00 and gave the stock a "hold" rating in a research note on Monday, August 5th. One investment analyst has rated the stock with a sell rating and three have assigned a hold rating to the company's stock. Based on data from MarketBeat, the company presently 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.