Leggett & Platt, Incorporated (NYSE:LEG) Shares Sold by Rhumbline Advisers

Rhumbline Advisers trimmed its stake in shares of Leggett & Platt, Incorporated (NYSE:LEG) by 0.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 326,573 shares of the company’s stock after selling 2,865 shares during the period. Rhumbline Advisers owned about 0.24% of Leggett & Platt worth $3,135,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of LEG. Allspring Global Investments Holdings LLC grew its stake in Leggett & Platt by 76.3% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 2,043 shares of the company’s stock valued at $28,000 after acquiring an additional 884 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Leggett & Platt in the third quarter valued at about $29,000. Point72 Hong Kong Ltd acquired a new stake in shares of Leggett & Platt in the third quarter valued at approximately $37,000. Brooklyn Investment Group purchased a new position in shares of Leggett & Platt during the 3rd quarter worth approximately $44,000. Finally, KBC Group NV raised its position in shares of Leggett & Platt by 74.5% during the 4th quarter. KBC Group NV now owns 7,028 shares of the company’s stock worth $67,000 after purchasing an additional 3,000 shares during the last quarter. Hedge funds and other institutional investors own 64.23% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently weighed in on LEG. The Goldman Sachs Group cut their price target on Leggett & Platt from $14.00 to $12.00 and set a “neutral” rating for the company in a report on Tuesday, January 14th. Truist Financial cut their target price on shares of Leggett & Platt from $13.00 to $11.00 and set a “hold” rating for the company in a research note on Wednesday, January 29th. Four equities research analysts have rated the stock with a hold rating, Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $12.00.

Leggett & Platt Stock Performance

LEG stock opened at $9.16 on Friday. The stock’s 50 day simple moving average is $10.06 and its 200 day simple moving average is $11.57. Leggett & Platt, Incorporated has a 12-month low of $8.95 and a 12-month high of $21.03. The firm has a market cap of $1.23 billion, a P/E ratio of -2.45 and a beta of 1.12. The company has a current ratio of 2.00, a quick ratio of 1.14 and a debt-to-equity ratio of 2.70.

Leggett & Platt (NYSE:LEG) last posted its earnings results on Thursday, February 13th. The company reported $0.21 EPS for the quarter, meeting the consensus estimate of $0.21. The company had revenue of $1.06 billion during the quarter, compared to analyst estimates of $1.03 billion. Leggett & Platt had a positive return on equity of 17.09% and a negative net margin of 11.67%. As a group, equities research analysts predict that Leggett & Platt, Incorporated will post 1.14 EPS for the current year.

Leggett & Platt Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Friday, March 14th will be given a $0.05 dividend. The ex-dividend date of this dividend is Friday, March 14th. This represents a $0.20 dividend on an annualized basis and a yield of 2.18%. Leggett & Platt’s dividend payout ratio is presently -5.36%.

About Leggett & Platt

Leggett & Platt, Inc engages in the manufacture and distribution of furniture and engineered components and products among homes, offices, automobiles, and commercial aircraft. It operates through the following segments: Bedding Products, Specialized Products, and Furniture, Flooring & Textile Products.