Barclays PLC Lowers Holdings in Leggett & Platt, Incorporated (NYSE:LEG)

Barclays PLC cut its stake in Leggett & Platt, Incorporated (NYSE:LEG - Free Report) by 80.6% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor 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 reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Cambridge Investment Research Advisors Inc. increased its stake in Leggett & Platt by 11.7% in the 2nd quarter. Cambridge Investment Research Advisors Inc. now owns 152,102 shares of the company's stock valued at $1,743,000 after purchasing an additional 15,893 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Leggett & Platt by 55.5% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 38,103 shares of the company's stock valued at $437,000 after buying an additional 13,593 shares in the last quarter. Principal Financial Group Inc. raised its stake in shares of Leggett & Platt by 31.0% during the 2nd quarter. Principal Financial Group Inc. now owns 658,117 shares of the company's stock worth $7,542,000 after buying an additional 155,860 shares during the last quarter. Signaturefd LLC boosted its position in shares of Leggett & Platt by 187.1% in the 2nd quarter. Signaturefd LLC now owns 14,412 shares of the company's stock worth $165,000 after buying an additional 9,392 shares in the last quarter. Finally, Maryland State Retirement & Pension System grew its stake in Leggett & Platt by 446.8% in the 2nd quarter. Maryland State Retirement & Pension System now owns 57,193 shares of the company's stock valued at $655,000 after acquiring an additional 46,733 shares during the last quarter. 64.23% of the stock is currently owned by institutional investors and hedge funds.

Leggett & Platt Price Performance

Shares of NYSE:LEG traded down $0.06 on Monday, hitting $9.50. The company had a trading volume of 2,119,900 shares, compared to its average volume of 2,249,227. The company has a current ratio of 1.48, a quick ratio of 0.84 and a debt-to-equity ratio of 2.13. The company has a market cap of $1.28 billion, a PE ratio of -1.58 and a beta of 1.07. Leggett & Platt, Incorporated has a 52-week low of $9.18 and a 52-week high of $26.84. The business has a 50 day moving average of $11.69 and a 200 day moving average of $12.18.

Leggett & Platt (NYSE:LEG - Get Free Report) last released its earnings results on Monday, October 28th. The company reported $0.32 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.33 by ($0.01). The firm had revenue of $1.10 billion during the quarter, compared to analysts' expectations of $1.10 billion. Leggett & Platt had a negative net margin of 18.53% and a positive return on equity of 14.99%. Leggett & Platt's revenue for the quarter was down 6.3% on a year-over-year basis. During the same quarter last year, the company posted $0.36 earnings per share. As a group, equities analysts anticipate that Leggett & Platt, Incorporated will post 1.05 earnings per share for the current fiscal year.

Leggett & Platt Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Friday, December 13th will be issued a $0.05 dividend. The ex-dividend date is Friday, December 13th. This represents a $0.20 annualized dividend and a yield of 2.11%. Leggett & Platt's dividend payout ratio (DPR) is presently -3.33%.

Analysts Set New Price Targets

Separately, Piper Sandler upgraded shares of Leggett & Platt from an "underweight" rating to a "neutral" rating and lifted their target price for the stock from $11.00 to $13.00 in a research report on Wednesday, October 30th. Four research analysts have rated the stock with a hold rating, According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $12.67.

About Leggett & Platt

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.