Semanteon Capital Management LP Makes New $1.17 Million Investment in Leggett & Platt, Incorporated (NYSE:LEG)

Semanteon Capital Management LP bought a new stake in Leggett & Platt, Incorporated (NYSE:LEG) in the fourth quarter, HoldingsChannel reports. The firm bought 44,530 shares of the company’s stock, valued at approximately $1,165,000.

Several other hedge funds also recently made changes to their positions in the company. Ramirez Asset Management Inc. bought a new position in Leggett & Platt during the 3rd quarter valued at approximately $25,000. Fifth Third Bancorp increased its stake in Leggett & Platt by 253.3% during the 4th quarter. Fifth Third Bancorp now owns 1,007 shares of the company’s stock valued at $26,000 after purchasing an additional 722 shares in the last quarter. GAMMA Investing LLC purchased a new position in Leggett & Platt in the fourth quarter worth about $40,000. ORG Partners LLC bought a new position in shares of Leggett & Platt in the fourth quarter worth approximately $49,000. Finally, Hexagon Capital Partners LLC lifted its stake in shares of Leggett & Platt by 67.5% in the third quarter. Hexagon Capital Partners LLC now owns 1,930 shares of the company’s stock worth $49,000 after buying an additional 778 shares in the last quarter. 64.23% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

LEG has been the subject of a number of recent analyst reports. StockNews.com lowered shares of Leggett & Platt from a “hold” rating to a “sell” rating in a report on Monday, March 11th. Truist Financial decreased their price target on Leggett & Platt from $18.00 to $16.00 and set a “hold” rating for the company in a research note on Tuesday, March 26th. Finally, TheStreet downgraded Leggett & Platt from a “c” rating to a “d+” rating in a report on Monday, March 11th. Two research analysts have rated the stock with a sell rating and two have assigned a hold rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $19.33.

Leggett & Platt Stock Performance

Shares of LEG traded down $0.24 during mid-day trading on Thursday, hitting $17.96. 1,537,902 shares of the company traded hands, compared to its average volume of 1,647,377. The stock has a market cap of $2.40 billion, a price-to-earnings ratio of -17.96 and a beta of 1.17. The stock has a 50-day moving average price of $19.20 and a two-hundred day moving average price of $22.49. Leggett & Platt, Incorporated has a 1 year low of $17.19 and a 1 year 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.

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

Leggett & Platt Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Friday, March 15th were given a dividend of $0.46 per share. This represents a $1.84 dividend on an annualized basis and a yield of 10.24%. The ex-dividend date of this dividend was Thursday, March 14th. Leggett & Platt’s dividend payout ratio (DPR) is presently -184.00%.

About Leggett & Platt

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.