Victory Capital Management Inc. Sells 190,837 Shares of Leggett & Platt, Incorporated (NYSE:LEG)

Victory Capital Management Inc. lessened its position in Leggett & Platt, Incorporated (NYSE:LEG) by 86.1% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 30,926 shares of the company’s stock after selling 190,837 shares during the quarter. Victory Capital Management Inc.’s holdings in Leggett & Platt were worth $354,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. Treasurer of the State of North Carolina grew its holdings in shares of Leggett & Platt by 1.0% during the 4th quarter. Treasurer of the State of North Carolina now owns 58,754 shares of the company’s stock valued at $1,538,000 after purchasing an additional 570 shares during the last quarter. TFO Wealth Partners LLC increased its holdings in shares of Leggett & Platt by 10,833.3% in the fourth quarter. TFO Wealth Partners LLC now owns 656 shares of the company’s stock worth $157,000 after buying an additional 650 shares during the period. New York State Teachers Retirement System lifted its stake in shares of Leggett & Platt by 0.4% in the 1st quarter. New York State Teachers Retirement System now owns 161,369 shares of the company’s stock valued at $3,090,000 after acquiring an additional 700 shares during the last quarter. Quadrant Capital Group LLC boosted its holdings in Leggett & Platt by 56.2% during the 4th quarter. Quadrant Capital Group LLC now owns 2,130 shares of the company’s stock valued at $56,000 after acquiring an additional 766 shares during the period. Finally, State of Michigan Retirement System grew its position in Leggett & Platt by 2.5% during the 1st quarter. State of Michigan Retirement System now owns 32,748 shares of the company’s stock worth $627,000 after acquiring an additional 800 shares during the last quarter. Hedge funds and other institutional investors own 64.23% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Leggett & Platt Stock Performance

Shares of LEG stock opened at $13.01 on Tuesday. The firm has a market capitalization of $1.74 billion, a price-to-earnings ratio of -11.21 and a beta of 1.07. The stock has a fifty day moving average of $12.58 and a 200 day moving average of $13.88. Leggett & Platt, Incorporated has a 52 week low of $10.11 and a 52 week high of $27.58. 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 posted its 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 negative net margin of 18.05% and a positive return on equity of 12.65%. The firm had revenue of $1.13 billion during the quarter, compared to analysts’ expectations of $1.13 billion. As a group, research analysts expect that Leggett & Platt, Incorporated will post 1.14 earnings per share for the current year.

Leggett & Platt Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders 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 dividend on an annualized basis and a dividend yield of 1.54%. Leggett & Platt’s dividend payout ratio (DPR) is -17.24%.

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.