Wells Fargo & Company MN trimmed its stake in shares of Leggett & Platt, Incorporated (NYSE:LEG - Free Report) by 12.6% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 670,203 shares of the company's stock after selling 96,473 shares during the period. Wells Fargo & Company MN owned about 0.50% of Leggett & Platt worth $17,539,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Norges Bank purchased a new position in Leggett & Platt during the fourth quarter worth approximately $26,814,000. Pacer Advisors Inc. boosted its position in Leggett & Platt by 68.5% during the fourth quarter. Pacer Advisors Inc. now owns 1,934,905 shares of the company's stock worth $50,636,000 after purchasing an additional 786,297 shares in the last quarter. Qube Research & Technologies Ltd boosted its position in Leggett & Platt by 329.6% during the third quarter. Qube Research & Technologies Ltd now owns 834,221 shares of the company's stock worth $21,198,000 after purchasing an additional 640,015 shares in the last quarter. Invesco Ltd. boosted its position in Leggett & Platt by 45.7% during the third quarter. Invesco Ltd. now owns 1,699,580 shares of the company's stock worth $43,186,000 after purchasing an additional 532,780 shares in the last quarter. Finally, Hsbc Holdings PLC boosted its position in Leggett & Platt by 675.3% during the third quarter. Hsbc Holdings PLC now owns 477,194 shares of the company's stock worth $12,121,000 after purchasing an additional 415,641 shares in the last quarter. 64.23% of the stock is owned by institutional investors and hedge funds.
Leggett & Platt Price Performance
Shares of NYSE LEG traded up $0.58 during midday trading on Friday, hitting $11.60. The stock had a trading volume of 13,289,026 shares, compared to its average volume of 2,860,234. Leggett & Platt, Incorporated has a 1 year low of $10.11 and a 1 year high of $32.86. The company has a market capitalization of $1.55 billion, a PE ratio of -10.00 and a beta of 1.19. The company has a quick ratio of 0.89, a current ratio of 1.57 and a debt-to-equity ratio of 1.37. The stock has a 50 day simple moving average of $15.45 and a 200-day simple moving average of $20.45.
Leggett & Platt (NYSE:LEG - Get Free Report) last announced its quarterly earnings data on Tuesday, April 30th. The company reported $0.23 EPS for the quarter, missing analysts' consensus estimates of $0.24 by ($0.01). Leggett & Platt had a positive return on equity of 11.31% and a negative net margin of 3.44%. The company had revenue of $1.10 billion for the quarter, compared to analysts' expectations of $1.11 billion. During the same quarter in the previous year, the business posted $0.39 EPS. The business's quarterly revenue was down 9.6% compared to the same quarter last year. On average, sell-side analysts expect that Leggett & Platt, Incorporated will post 1.13 EPS for the current fiscal year.
Leggett & Platt Cuts Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 15th. Investors of record on Friday, June 14th will be given a dividend of $0.05 per share. The ex-dividend date is Friday, June 14th. This represents a $0.20 dividend on an annualized basis and a yield of 1.72%. Leggett & Platt's payout ratio is -17.24%.
Analyst Upgrades and Downgrades
LEG has been the topic of a number of recent analyst reports. StockNews.com upgraded Leggett & Platt from a "sell" rating to a "hold" rating in a research report on Tuesday, May 7th. Truist Financial decreased their target price on Leggett & Platt from $16.00 to $13.00 and set a "hold" rating on the stock in a research report on Friday, May 3rd. Piper Sandler decreased their target price on Leggett & Platt from $16.00 to $13.00 and set an "underweight" rating on the stock in a research report on Wednesday, May 1st. The Goldman Sachs Group decreased their target price on Leggett & Platt from $20.00 to $14.00 and set a "neutral" rating on the stock in a research report on Thursday, May 2nd. Finally, TheStreet downgraded Leggett & Platt from a "c" rating to a "d+" rating in a research report on Monday, March 11th. One investment analyst has rated the stock with a sell rating and three have given a hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $13.33.
Check Out Our Latest Research Report on LEG
Insider Buying and Selling
In other Leggett & Platt news, Director Mark A. Blinn bought 6,000 shares of the business's stock in a transaction on Thursday, May 23rd. The stock was bought at an average price of $10.74 per share, with a total value of $64,440.00. Following the completion of the purchase, the director now directly owns 32,302 shares in the company, valued at $346,923.48. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other Leggett & Platt news, Director Mark A. Blinn bought 6,000 shares of the business's stock in a transaction on Thursday, May 23rd. The stock was bought at an average price of $10.74 per share, with a total value of $64,440.00. Following the completion of the purchase, the director now directly owns 32,302 shares in the company, valued at $346,923.48. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Ryan Michael Kleiboeker bought 10,000 shares of the business's stock in a transaction on Thursday, May 2nd. The shares were acquired at an average cost of $13.39 per share, with a total value of $133,900.00. Following the purchase, the executive vice president now owns 41,535 shares of the company's stock, valued at $556,153.65. The disclosure for this purchase can be found here. Over the last 90 days, insiders have purchased 26,000 shares of company stock worth $307,840. 1.57% of the stock is owned by corporate insiders.
Leggett & Platt Profile
(Free Report)
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.
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