Arbor Wealth Advisors LLC Takes Position in Leggett & Platt, Incorporated (NYSE:LEG)

Arbor Wealth Advisors LLC purchased a new position in Leggett & Platt, Incorporated (NYSE:LEG) in the 4th quarter, Holdings Channel.com reports. The firm purchased 56,752 shares of the company’s stock, valued at approximately $1,485,000. Leggett & Platt accounts for approximately 1.5% of Arbor Wealth Advisors LLC’s holdings, making the stock its 14th biggest position.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its stake in shares of Leggett & Platt by 0.9% in the 3rd quarter. Vanguard Group Inc. now owns 12,946,981 shares of the company’s stock valued at $328,983,000 after purchasing an additional 117,499 shares during the period. Charles Schwab Investment Management Inc. raised its stake in Leggett & Platt by 7.0% during the third quarter. Charles Schwab Investment Management Inc. now owns 6,231,637 shares of the company’s stock worth $154,888,000 after acquiring an additional 405,363 shares in the last quarter. Pacer Advisors Inc. lifted its holdings in shares of Leggett & Platt by 68.5% during the fourth quarter. Pacer Advisors Inc. now owns 1,934,905 shares of the company’s stock valued at $50,636,000 after acquiring an additional 786,297 shares during the period. Invesco Ltd. boosted its stake in shares of Leggett & Platt by 45.7% in the 3rd quarter. Invesco Ltd. now owns 1,699,580 shares of the company’s stock valued at $43,186,000 after purchasing an additional 532,780 shares in the last quarter. Finally, Qube Research & Technologies Ltd boosted its stake in shares of Leggett & Platt by 329.6% in the 3rd quarter. Qube Research & Technologies Ltd now owns 834,221 shares of the company’s stock valued at $21,198,000 after purchasing an additional 640,015 shares in the last quarter. Institutional investors own 64.23% of the company’s stock.

Leggett & Platt Price Performance

Shares of NYSE LEG traded down $0.06 during trading on Tuesday, reaching $18.21. The company had a trading volume of 1,349,668 shares, compared to its average volume of 1,647,023. Leggett & Platt, Incorporated has a 52 week low of $17.19 and a 52 week high of $33.50. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.84 and a current ratio of 1.49. The business’s 50 day moving average price is $19.26 and its 200-day moving average price is $22.57. The stock has a market cap of $2.43 billion, a PE ratio of -18.21 and a beta of 1.17.

Leggett & Platt (NYSE:LEG) last posted its quarterly earnings data on Friday, February 9th. The company reported $0.26 earnings per share for the quarter, missing the consensus estimate of $0.27 by ($0.01). The company had revenue of $1.12 billion during the quarter, compared to the consensus estimate of $1.11 billion. Leggett & Platt had a positive return on equity of 11.99% and a negative net margin of 2.90%. The business’s revenue for the quarter was down 6.7% on a year-over-year basis. During the same quarter last year, the firm earned $0.39 EPS. Analysts expect that Leggett & Platt, Incorporated will post 1.17 earnings per share for the current year.

Leggett & Platt Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Friday, March 15th were issued a $0.46 dividend. This represents a $1.84 annualized dividend and a yield of 10.11%. The ex-dividend date was Thursday, March 14th. Leggett & Platt’s dividend payout ratio is -184.00%.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the stock. StockNews.com downgraded shares of Leggett & Platt from a “hold” rating to a “sell” rating in a report on Monday, March 11th. TheStreet lowered shares of Leggett & Platt from a “c” rating to a “d+” rating in a report on Monday, March 11th. Finally, Truist Financial decreased their price target on Leggett & Platt from $18.00 to $16.00 and set a “hold” rating on the stock in a research report on Tuesday, March 26th. Two research analysts have rated the stock with a sell rating and two have issued a hold rating to the company’s stock. According to MarketBeat, Leggett & Platt has an average rating of “Hold” and a consensus price target of $19.33.

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.