Leggett & Platt, Incorporated (NYSE:LEG) Shares Sold by Texas Permanent School Fund Corp

Texas Permanent School Fund Corp lessened its stake in Leggett & Platt, Incorporated (NYSE:LEG) by 13.6% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 99,846 shares of the company’s stock after selling 15,710 shares during the quarter. Texas Permanent School Fund Corp owned about 0.07% of Leggett & Platt worth $1,144,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Norges Bank purchased a new position in Leggett & Platt in the fourth quarter worth approximately $26,814,000. Dimensional Fund Advisors LP grew its position in Leggett & Platt by 12.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,373,959 shares of the company’s stock worth $62,127,000 after acquiring an additional 262,145 shares during the period. Invenomic Capital Management LP purchased a new position in Leggett & Platt in the first quarter worth approximately $4,203,000. Principal Financial Group Inc. grew its position in Leggett & Platt by 31.0% in the second quarter. Principal Financial Group Inc. now owns 658,117 shares of the company’s stock worth $7,542,000 after acquiring an additional 155,860 shares during the period. Finally, Janney Montgomery Scott LLC purchased a new position in Leggett & Platt in the fourth quarter worth approximately $3,210,000. Institutional investors and hedge funds own 64.23% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on LEG shares. The Goldman Sachs Group lowered their price objective on Leggett & Platt from $14.00 to $12.00 and set a “neutral” rating for the company in a research report on Wednesday, July 10th. Truist Financial increased their price objective on Leggett & Platt from $11.00 to $13.00 and gave the stock a “hold” rating in a research report on Monday, August 5th. Finally, StockNews.com upgraded Leggett & Platt from a “sell” rating to a “hold” rating in a research report on Wednesday, August 28th. One analyst has rated the stock with a sell rating and three have issued a hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $12.67.

Leggett & Platt Trading Down 2.7 %

LEG opened at $13.18 on Friday. Leggett & Platt, Incorporated has a 52 week low of $10.11 and a 52 week high of $27.58. The business has a fifty day simple moving average of $12.57 and a 200-day simple moving average of $14.03. The firm has a market cap of $1.77 billion, a P/E ratio of -11.36 and a beta of 1.07. The company has a quick ratio of 0.88, a current ratio of 1.53 and a debt-to-equity ratio of 2.55.

Leggett & Platt (NYSE:LEG) last released its quarterly earnings results on Thursday, August 1st. The company reported $0.29 EPS for the quarter, hitting the consensus estimate of $0.29. Leggett & Platt had a positive return on equity of 12.65% and a negative net margin of 18.05%. The business had revenue of $1.13 billion during the quarter, compared to analyst estimates of $1.13 billion. On average, equities analysts expect that Leggett & Platt, Incorporated will post 1.14 earnings per share for the current year.

Leggett & Platt Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Friday, September 13th will be given 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 1.52%. Leggett & Platt’s dividend payout ratio is currently -17.24%.

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.