M&T Bank Corp Buys 4,096 Shares of Leggett & Platt, Incorporated (NYSE:LEG)

M&T Bank Corp lifted its stake in Leggett & Platt, Incorporated (NYSE:LEG) by 8.0% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 55,171 shares of the company’s stock after purchasing an additional 4,096 shares during the period. M&T Bank Corp’s holdings in Leggett & Platt were worth $751,000 as of its most recent SEC filing.

A number of other large investors have also recently modified their holdings of the stock. Allspring Global Investments Holdings LLC raised its stake in Leggett & Platt by 76.3% in the third quarter. Allspring Global Investments Holdings LLC now owns 2,043 shares of the company’s stock worth $28,000 after buying an additional 884 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Leggett & Platt during the 3rd quarter worth approximately $29,000. Point72 Hong Kong Ltd bought a new position in shares of Leggett & Platt in the 3rd quarter worth approximately $37,000. nVerses Capital LLC bought a new position in shares of Leggett & Platt in the 3rd quarter worth approximately $41,000. Finally, Brooklyn Investment Group purchased a new position in shares of Leggett & Platt in the 3rd quarter valued at approximately $44,000. Institutional investors own 64.23% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on LEG shares. Piper Sandler raised Leggett & Platt from an “underweight” rating to a “neutral” rating and upped their price target for the stock from $11.00 to $13.00 in a research note on Wednesday, October 30th. StockNews.com upgraded shares of Leggett & Platt from a “sell” rating to a “hold” rating in a research note on Wednesday, August 28th. Four investment analysts have rated the stock with a hold rating, Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $12.67.

Leggett & Platt Stock Down 1.8 %

LEG stock opened at $11.05 on Tuesday. The business has a 50 day moving average of $12.27 and a 200 day moving average of $12.31. The firm has a market cap of $1.48 billion, a PE ratio of -1.84 and a beta of 1.07. Leggett & Platt, Incorporated has a twelve month low of $10.11 and a twelve month high of $27.01. The company has a quick ratio of 0.84, a current ratio of 1.48 and a debt-to-equity ratio of 2.13.

Leggett & Platt (NYSE:LEG) last issued its quarterly earnings results on Monday, October 28th. The company reported $0.32 earnings per share for the quarter, missing the consensus estimate of $0.33 by ($0.01). The company had revenue of $1.10 billion for the quarter, compared to the consensus estimate of $1.10 billion. Leggett & Platt had a negative net margin of 18.53% and a positive return on equity of 14.99%. Leggett & Platt’s revenue was down 6.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.36 earnings per share. On average, research analysts forecast that Leggett & Platt, Incorporated will post 1.05 EPS for the current fiscal year.

Leggett & Platt Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Friday, December 13th will be paid a $0.05 dividend. The ex-dividend date is Friday, December 13th. This represents a $0.20 annualized dividend and a dividend yield of 1.81%. Leggett & Platt’s dividend payout ratio is presently -3.33%.

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.