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

Inspire Advisors LLC grew its stake in Leggett & Platt, Incorporated (NYSE:LEG - Free Report) by 45.0% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 128,309 shares of the company's stock after buying an additional 39,790 shares during the period. Inspire Advisors LLC owned approximately 0.10% of Leggett & Platt worth $1,748,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Abich Financial Wealth Management LLC lifted its position in shares of Leggett & Platt by 93.2% during the 1st quarter. Abich Financial Wealth Management LLC now owns 1,930 shares of the company's stock worth $37,000 after purchasing an additional 931 shares during the last quarter. nVerses Capital LLC bought a new position in Leggett & Platt during the third quarter valued at about $41,000. CVA Family Office LLC bought a new position in Leggett & Platt during the second quarter valued at about $36,000. Fifth Third Bancorp increased its stake in Leggett & Platt by 367.8% during the second quarter. Fifth Third Bancorp now owns 3,396 shares of the company's stock valued at $39,000 after acquiring an additional 2,670 shares during the period. Finally, EverSource Wealth Advisors LLC grew its stake in shares of Leggett & Platt by 343.8% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 4,371 shares of the company's stock valued at $50,000 after purchasing an additional 3,386 shares during the period. Institutional investors and hedge funds own 64.23% of the company's stock.

Leggett & Platt Price Performance

Shares of LEG traded up $0.10 on Friday, hitting $13.56. The company's stock had a trading volume of 2,061,499 shares, compared to its average volume of 2,336,692. The company has a market capitalization of $1.82 billion, a PE ratio of -11.69 and a beta of 1.07. 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 fifty-two week low of $10.11 and a fifty-two week high of $27.58. The company has a 50 day moving average price of $12.76 and a 200 day moving average price of $13.24.

Leggett & Platt (NYSE:LEG - Get Free Report) last announced its earnings results on Thursday, August 1st. The company reported $0.29 EPS for the quarter, hitting the consensus estimate of $0.29. The business had revenue of $1.13 billion for the quarter, compared to the consensus estimate of $1.13 billion. Leggett & Platt had a positive return on equity of 12.65% and a negative net margin of 18.05%. On average, research analysts anticipate that Leggett & Platt, Incorporated will post 1.14 earnings per share for the current fiscal year.

Leggett & Platt Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Friday, September 13th were issued a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a yield of 1.47%. The ex-dividend date was Friday, September 13th. Leggett & Platt's dividend payout ratio is -17.24%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on LEG shares. The Goldman Sachs Group lowered 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. StockNews.com upgraded Leggett & Platt from a "sell" rating to a "hold" rating in a research note on Wednesday, August 28th. Finally, Truist Financial upped their price objective on Leggett & Platt from $11.00 to $13.00 and gave the company a "hold" rating in a research note on Monday, August 5th. One analyst has rated the stock with a sell rating and three have assigned a hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target 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.