M&T Bank Corp Sells 40,343 Shares of Leggett & Platt, Incorporated (NYSE:LEG)

M&T Bank Corp lowered its holdings in shares of Leggett & Platt, Incorporated (NYSE:LEG) by 73.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 14,828 shares of the company’s stock after selling 40,343 shares during the quarter. M&T Bank Corp’s holdings in Leggett & Platt were worth $142,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in LEG. Janney Montgomery Scott LLC lifted its holdings in shares of Leggett & Platt by 5.3% in the 3rd quarter. Janney Montgomery Scott LLC now owns 87,882 shares of the company’s stock valued at $1,197,000 after acquiring an additional 4,442 shares during the last quarter. State of New Jersey Common Pension Fund D bought a new stake in shares of Leggett & Platt in the 3rd quarter valued at approximately $2,089,000. GSA Capital Partners LLP purchased a new position in shares of Leggett & Platt in the 3rd quarter worth approximately $456,000. Aigen Investment Management LP bought a new position in shares of Leggett & Platt during the 3rd quarter valued at approximately $284,000. Finally, Quest Partners LLC raised its holdings in Leggett & Platt by 4,511,800.0% during the 3rd quarter. Quest Partners LLC now owns 45,119 shares of the company’s stock valued at $615,000 after buying an additional 45,118 shares during the period. 64.23% of the stock is owned by hedge funds and other institutional investors.

Leggett & Platt Stock Performance

LEG stock opened at $8.12 on Friday. Leggett & Platt, Incorporated has a twelve month low of $7.92 and a twelve month high of $19.33. The firm has a market cap of $1.09 billion, a price-to-earnings ratio of -2.18 and a beta of 1.11. The business’s fifty day simple moving average is $9.82 and its two-hundred day simple moving average is $11.28. The company has a quick ratio of 1.14, a current ratio of 2.00 and a debt-to-equity ratio of 2.70.

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

Leggett & Platt Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Friday, March 14th will be paid a $0.05 dividend. The ex-dividend date is Friday, March 14th. This represents a $0.20 annualized dividend and a yield of 2.46%. Leggett & Platt’s dividend payout ratio (DPR) is currently -5.36%.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the stock. The Goldman Sachs Group cut their price objective on shares of Leggett & Platt from $14.00 to $12.00 and set a “neutral” rating on the stock in a research report on Tuesday, January 14th. Truist Financial reduced their price objective on shares of Leggett & Platt from $13.00 to $11.00 and set a “hold” rating on the stock in a research report on Wednesday, January 29th.

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.