Twelve Points Wealth Management LLC Has $252,000 Holdings in Leggett & Platt, Incorporated (NYSE:LEG)

Twelve Points Wealth Management LLC increased its holdings in shares of Leggett & Platt, Incorporated (NYSE:LEG) by 5.9% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 21,975 shares of the company’s stock after acquiring an additional 1,219 shares during the quarter. Twelve Points Wealth Management LLC’s holdings in Leggett & Platt were worth $252,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also bought and sold shares of LEG. Fifth Third Bancorp lifted its position in shares of 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 acquiring an additional 722 shares during the period. CVA Family Office LLC acquired a new position in Leggett & Platt in the second quarter valued at about $36,000. Abich Financial Wealth Management LLC lifted its position in Leggett & Platt by 93.2% during the first 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 period. GAMMA Investing LLC acquired a new stake in Leggett & Platt during the fourth quarter worth about $40,000. Finally, ORG Partners LLC bought a new position in Leggett & Platt in the 4th quarter valued at about $49,000. Institutional investors and hedge funds own 64.23% of the company’s stock.

Insider Activity at Leggett & Platt

In other news, CEO Karl G. Glassman purchased 23,800 shares of the business’s stock in a transaction dated Friday, May 31st. The shares were purchased at an average cost of $11.48 per share, with a total value of $273,224.00. Following the completion of the purchase, the chief executive officer now owns 1,151,891 shares of the company’s stock, valued at approximately $13,223,708.68. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other Leggett & Platt news, CEO Karl G. Glassman purchased 23,800 shares of the firm’s stock in a transaction on Friday, May 31st. The stock was purchased at an average cost of $11.48 per share, for a total transaction of $273,224.00. Following the transaction, the chief executive officer now owns 1,151,891 shares in the company, valued at approximately $13,223,708.68. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Benjamin Michael Burns purchased 3,850 shares of the business’s stock in a transaction dated Thursday, June 6th. The shares were acquired at an average price of $12.20 per share, for a total transaction of $46,970.00. Following the acquisition, the chief financial officer now owns 81,362 shares of the company’s stock, valued at approximately $992,616.40. The disclosure for this purchase can be found here. Insiders have bought a total of 55,635 shares of company stock valued at $639,547 in the last 90 days. 1.57% of the stock is owned by corporate insiders.

Leggett & Platt Price Performance

LEG stock traded down $0.21 during trading on Friday, reaching $12.38. 1,334,220 shares of the company were exchanged, compared to its average volume of 2,599,896. The company has a market capitalization of $1.66 billion, a price-to-earnings ratio of -10.67 and a beta of 1.08. The company has a debt-to-equity ratio of 1.37, a current ratio of 1.57 and a quick ratio of 0.89. The company has a 50-day moving average of $12.04 and a two-hundred day moving average of $15.91. Leggett & Platt, Incorporated has a twelve month low of $10.11 and a twelve month high of $29.83.

Leggett & Platt Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Friday, September 13th will be issued a dividend of $0.05 per share. The ex-dividend date of this dividend is Friday, September 13th. This represents a $0.20 annualized dividend and a dividend yield of 1.62%. Leggett & Platt’s dividend payout ratio (DPR) is presently -17.24%.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on LEG. The Goldman Sachs Group cut their price target on shares of Leggett & Platt from $14.00 to $12.00 and set a “neutral” rating for the company in a report on Wednesday, July 10th. Piper Sandler lowered their price objective on shares of Leggett & Platt from $16.00 to $13.00 and set an “underweight” rating for the company in a research report on Wednesday, May 1st. StockNews.com downgraded Leggett & Platt from a “hold” rating to a “sell” rating in a report on Saturday, July 6th. Finally, Truist Financial boosted their price target on Leggett & Platt from $11.00 to $13.00 and gave the stock a “hold” rating in a report on Monday, August 5th. Two research analysts have rated the stock with a sell rating and two have given a hold rating to the stock. According to 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.