Seven Six Capital Management LLC Reduces Stock Holdings in Leggett & Platt, Incorporated $LEG

Seven Six Capital Management LLC lessened its holdings in Leggett & Platt, Incorporated (NYSE:LEG) by 12.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 594,001 shares of the company’s stock after selling 84,700 shares during the quarter. Leggett & Platt accounts for approximately 6.6% of Seven Six Capital Management LLC’s holdings, making the stock its 4th biggest holding. Seven Six Capital Management LLC owned approximately 0.44% of Leggett & Platt worth $6,534,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Hantz Financial Services Inc. increased its holdings in Leggett & Platt by 32.0% in the 4th quarter. Hantz Financial Services Inc. now owns 3,231 shares of the company’s stock valued at $36,000 after buying an additional 783 shares during the period. Optimize Financial Inc increased its holdings in Leggett & Platt by 1.5% in the 4th quarter. Optimize Financial Inc now owns 60,507 shares of the company’s stock valued at $666,000 after buying an additional 868 shares during the period. Jones Financial Companies Lllp increased its holdings in Leggett & Platt by 8.4% in the 1st quarter. Jones Financial Companies Lllp now owns 14,661 shares of the company’s stock valued at $116,000 after buying an additional 1,132 shares during the period. Nisa Investment Advisors LLC increased its holdings in Leggett & Platt by 12.6% in the 4th quarter. Nisa Investment Advisors LLC now owns 10,271 shares of the company’s stock valued at $113,000 after buying an additional 1,152 shares during the period. Finally, State of Alaska Department of Revenue increased its holdings in Leggett & Platt by 1.8% in the 4th quarter. State of Alaska Department of Revenue now owns 76,948 shares of the company’s stock valued at $845,000 after buying an additional 1,338 shares during the period. Institutional investors own 64.23% of the company’s stock.

Wall Street Analysts Forecast Growth

LEG has been the topic of several recent analyst reports. Weiss Ratings upgraded shares of Leggett & Platt from a “hold (c-)” rating to a “hold (c)” rating in a research note on Friday, May 15th. Truist Financial reduced their target price on shares of Leggett & Platt from $13.00 to $11.00 and set a “hold” rating on the stock in a research note on Friday, May 8th. Zacks Research downgraded shares of Leggett & Platt from a “hold” rating to a “strong sell” rating in a research note on Thursday, May 14th. Finally, Wall Street Zen downgraded shares of Leggett & Platt from a “buy” rating to a “hold” rating in a research note on Saturday, February 21st. Four analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Reduce” and a consensus target price of $11.33.

Leggett & Platt Stock Up 0.8%

Shares of NYSE:LEG opened at $10.86 on Wednesday. Leggett & Platt, Incorporated has a 52 week low of $7.86 and a 52 week high of $13.00. The company has a debt-to-equity ratio of 1.44, a quick ratio of 1.45 and a current ratio of 2.33. The company’s fifty day moving average is $10.43 and its 200-day moving average is $11.00. The company has a market capitalization of $1.48 billion, a PE ratio of 6.74 and a beta of 0.74.

Leggett & Platt (NYSE:LEG) last issued its earnings results on Thursday, May 7th. The company reported $0.15 EPS for the quarter, missing the consensus estimate of $0.26 by ($0.11). The firm had revenue of $918.20 million during the quarter, compared to analyst estimates of $946.79 million. Leggett & Platt had a net margin of 5.69% and a return on equity of 12.62%. The firm’s revenue for the quarter was down 10.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.24 EPS. Equities research analysts predict that Leggett & Platt, Incorporated will post 0.9 earnings per share for the current fiscal year.

Leggett & Platt Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 15th. Investors of record on Monday, June 15th will be given a dividend of $0.05 per share. The ex-dividend date is Monday, June 15th. This represents a $0.20 annualized dividend and a yield of 1.8%. Leggett & Platt’s dividend payout ratio is 12.42%.

Leggett & Platt Company Profile

Leggett & Platt, Inc is a diversified manufacturer specializing in the design, engineering and production of a wide range of engineered components and products. The company’s offerings span several end markets, including residential bedding, commercial and residential furniture, automotive seating and interiors, aerospace applications and industrial products. By integrating product design with proprietary manufacturing processes, Leggett & Platt serves as a key supplier to both original equipment manufacturers and aftermarket distributors.

The company’s core product lines include coil springs and support systems for mattresses and furniture, adjustable bed mechanisms, engineered components such as extruded and formed metal products, and specialty foam and bedding products.