Barclays PLC lessened its holdings in shares of Leggett & Platt, Incorporated (NYSE:LEG - Free Report) by 80.6% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 91,344 shares of the company's stock after selling 380,652 shares during the period. Barclays PLC owned approximately 0.07% of Leggett & Platt worth $1,245,000 at the end of the most recent quarter.
Other institutional investors have also recently made changes to their positions in the company. Geode Capital Management LLC raised its stake in Leggett & Platt by 2.9% in the third quarter. Geode Capital Management LLC now owns 2,156,322 shares of the company's stock valued at $29,377,000 after buying an additional 60,166 shares during the last quarter. M&T Bank Corp raised its position in shares of Leggett & Platt by 8.0% in the 3rd quarter. M&T Bank Corp now owns 55,171 shares of the company's stock valued at $751,000 after purchasing an additional 4,096 shares during the last quarter. Y Intercept Hong Kong Ltd raised its position in shares of Leggett & Platt by 30.0% in the 3rd quarter. Y Intercept Hong Kong Ltd now owns 64,566 shares of the company's stock valued at $879,000 after purchasing an additional 14,909 shares during the last quarter. XTX Topco Ltd acquired a new stake in Leggett & Platt in the 3rd quarter worth approximately $234,000. Finally, Wellington Management Group LLP purchased a new stake in Leggett & Platt during the 3rd quarter worth approximately $15,735,000. Institutional investors and hedge funds own 64.23% of the company's stock.
Leggett & Platt Stock Performance
LEG traded up $0.15 during trading on Tuesday, reaching $10.33. 1,762,099 shares of the company's stock were exchanged, compared to its average volume of 1,829,512. The company has a debt-to-equity ratio of 2.13, a current ratio of 1.48 and a quick ratio of 0.84. Leggett & Platt, Incorporated has a 1 year low of $9.18 and a 1 year high of $25.29. The company's fifty day simple moving average is $11.11 and its 200-day simple moving average is $12.04. The stock has a market capitalization of $1.39 billion, a P/E ratio of -1.72 and a beta of 1.11.
Leggett & Platt (NYSE:LEG - Get Free Report) last issued its earnings results on Monday, October 28th. The company reported $0.32 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.33 by ($0.01). Leggett & Platt had a positive return on equity of 14.99% and a negative net margin of 18.53%. The business had revenue of $1.10 billion for the quarter, compared to analysts' expectations of $1.10 billion. During the same period last year, the business earned $0.36 EPS. The company's revenue for the quarter was down 6.3% on a year-over-year basis. As a group, research analysts predict that Leggett & Platt, Incorporated will post 1.05 earnings per share for the current fiscal year.
Leggett & Platt Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Friday, December 13th will be given a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a yield of 1.94%. The ex-dividend date is Friday, December 13th. Leggett & Platt's dividend payout ratio is currently -3.33%.
Analysts Set New Price Targets
A number of research firms have issued reports on LEG. Piper Sandler raised shares of Leggett & Platt from an "underweight" rating to a "neutral" rating and raised their price target for the stock from $11.00 to $13.00 in a report on Wednesday, October 30th. The Goldman Sachs Group reduced their target price on Leggett & Platt from $14.00 to $12.00 and set a "neutral" rating for the company in a research note on Tuesday. Four equities research analysts have rated the stock with a hold rating, Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $12.67.
Check Out Our Latest Stock Report on Leggett & Platt
About Leggett & Platt
(
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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