Barclays PLC Cuts Stock Holdings in Leggett & Platt, Incorporated (NYSE:LEG)

Barclays PLC reduced its stake in Leggett & Platt, Incorporated (NYSE:LEG) by 80.6% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 91,344 shares of the company’s stock after selling 380,652 shares during the quarter. Barclays PLC owned about 0.07% of Leggett & Platt worth $1,245,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also bought and sold shares of LEG. Pacer Advisors Inc. boosted its holdings in Leggett & Platt by 426.2% during the 2nd quarter. Pacer Advisors Inc. now owns 14,042,134 shares of the company’s stock valued at $160,923,000 after acquiring an additional 11,373,507 shares during the period. State Street Corp boosted its stake in shares of Leggett & Platt by 0.6% during the third quarter. State Street Corp now owns 4,437,066 shares of the company’s stock valued at $60,657,000 after purchasing an additional 27,693 shares during the period. Geode Capital Management LLC grew its holdings in shares of Leggett & Platt by 2.9% in the third quarter. Geode Capital Management LLC now owns 2,156,322 shares of the company’s stock worth $29,377,000 after purchasing an additional 60,166 shares during the last quarter. AQR Capital Management LLC increased its stake in shares of Leggett & Platt by 1,098.0% in the second quarter. AQR Capital Management LLC now owns 2,005,408 shares of the company’s stock worth $22,160,000 after buying an additional 1,838,009 shares during the period. Finally, Wellington Management Group LLP bought a new stake in Leggett & Platt during the 3rd quarter valued at $15,735,000. 64.23% of the stock is currently owned by institutional investors.

Leggett & Platt Stock Performance

NYSE LEG opened at $10.17 on Tuesday. Leggett & Platt, Incorporated has a twelve month low of $9.18 and a twelve month high of $25.29. The company has a quick ratio of 0.84, a current ratio of 1.48 and a debt-to-equity ratio of 2.13. The firm has a market cap of $1.37 billion, a price-to-earnings ratio of -1.69 and a beta of 1.11. The business has a 50-day moving average price of $11.15 and a 200-day moving average price of $12.05.

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

Leggett & Platt Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Friday, December 13th will be issued a $0.05 dividend. The ex-dividend date is Friday, December 13th. This represents a $0.20 annualized dividend and a yield of 1.97%. Leggett & Platt’s dividend payout ratio (DPR) is presently -3.33%.

Analyst Ratings Changes

Separately, Piper Sandler raised shares of Leggett & Platt from an “underweight” rating to a “neutral” rating and boosted their price objective for the company from $11.00 to $13.00 in a research report on Wednesday, October 30th. Four analysts have rated the stock with a hold rating, Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $12.67.

Leggett & Platt 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.