Leggett & Platt, Incorporated (NYSE:LEG) Shares Sold by Congress Wealth Management LLC DE

Congress Wealth Management LLC DE decreased its stake in shares of Leggett & Platt, Incorporated (NYSE:LEG - Free Report) by 67.5% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 48,776 shares of the company's stock after selling 101,141 shares during the period. Congress Wealth Management LLC DE's holdings in Leggett & Platt were worth $468,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of LEG. Vanguard Group Inc. raised its stake in Leggett & Platt by 4.9% during the fourth quarter. Vanguard Group Inc. now owns 15,478,476 shares of the company's stock valued at $148,593,000 after buying an additional 722,024 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of Leggett & Platt by 4.7% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 4,751,066 shares of the company's stock valued at $45,610,000 after acquiring an additional 214,571 shares during the last quarter. State Street Corp raised its position in shares of Leggett & Platt by 0.6% during the 3rd quarter. State Street Corp now owns 4,437,066 shares of the company's stock valued at $60,657,000 after acquiring an additional 27,693 shares in the last quarter. Geode Capital Management LLC lifted its stake in Leggett & Platt by 2.9% during the third quarter. Geode Capital Management LLC now owns 2,156,322 shares of the company's stock worth $29,377,000 after purchasing an additional 60,166 shares during the last quarter. Finally, Wellington Management Group LLP acquired a new position in Leggett & Platt in the third quarter worth $15,735,000. 64.23% of the stock is currently owned by institutional investors and hedge funds.

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Leggett & Platt Stock Performance

LEG traded up $0.10 during trading on Wednesday, reaching $7.96. 425,630 shares of the company were exchanged, compared to its average volume of 2,422,129. Leggett & Platt, Incorporated has a 52 week low of $7.73 and a 52 week high of $19.33. The company has a current ratio of 2.00, a quick ratio of 1.14 and a debt-to-equity ratio of 2.70. The firm has a 50 day moving average of $9.31 and a 200 day moving average of $10.93. The stock has a market cap of $1.07 billion, a P/E ratio of -2.13 and a beta of 1.11.

Leggett & Platt (NYSE:LEG - Get Free Report) last released its quarterly earnings results on Thursday, February 13th. The company reported $0.21 EPS for the quarter, hitting the consensus estimate of $0.21. Leggett & Platt had a negative net margin of 11.67% and a positive return on equity of 17.09%. The business had revenue of $1.06 billion during the quarter, compared to analyst estimates of $1.03 billion. On average, sell-side analysts forecast that Leggett & Platt, Incorporated will post 1.14 EPS for the current fiscal year.

Leggett & Platt Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders 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 dividend yield of 2.51%. Leggett & Platt's payout ratio is currently -5.36%.

Wall Street Analyst Weigh In

A number of analysts have weighed in on LEG shares. The Goldman Sachs Group dropped their target price on shares of Leggett & Platt from $14.00 to $12.00 and set a "neutral" rating on the stock in a report on Tuesday, January 14th. Truist Financial dropped 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 note on Wednesday, January 29th.

Leggett & Platt Company Profile

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.