Advisors Asset Management Inc. Sells 80,139 Shares of Leggett & Platt, Incorporated (NYSE:LEG)

Advisors Asset Management Inc. cut its holdings in Leggett & Platt, Incorporated (NYSE:LEG - Free Report) by 25.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 237,922 shares of the company's stock after selling 80,139 shares during the quarter. Advisors Asset Management Inc. owned about 0.18% of Leggett & Platt worth $2,284,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the business. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Leggett & Platt in the 3rd quarter valued at approximately $29,000. SRS Capital Advisors Inc. raised its holdings in Leggett & Platt by 555.8% in the fourth quarter. SRS Capital Advisors Inc. now owns 3,102 shares of the company's stock worth $30,000 after purchasing an additional 2,629 shares during the period. Point72 Hong Kong Ltd acquired a new stake in Leggett & Platt in the third quarter worth $37,000. Brooklyn Investment Group bought a new position in shares of Leggett & Platt during the third quarter worth $44,000. Finally, SBI Securities Co. Ltd. acquired a new position in shares of Leggett & Platt in the 4th quarter valued at $50,000. Institutional investors and hedge funds own 64.23% of the company's stock.

Analyst Upgrades and Downgrades

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

Leggett & Platt Stock Up 0.8 %

LEG traded up $0.07 during trading on Wednesday, hitting $8.09. The company had a trading volume of 1,913,893 shares, compared to its average volume of 2,279,022. The company has a market capitalization of $1.09 billion, a PE ratio of -2.17 and a beta of 1.11. 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, Incorporated has a one year low of $7.92 and a one year high of $19.33. The firm's 50-day moving average price is $9.58 and its 200 day moving average price is $11.07.

Leggett & Platt (NYSE:LEG - Get Free Report) last issued its quarterly earnings results on Thursday, February 13th. The company reported $0.21 EPS for the quarter, meeting analysts' consensus estimates of $0.21. The company had revenue of $1.06 billion for the quarter, compared to analyst estimates of $1.03 billion. Leggett & Platt had a positive return on equity of 17.09% and a negative net margin of 11.67%. As a group, equities analysts expect that Leggett & Platt, Incorporated will post 1.14 earnings per share for the current year.

Leggett & Platt Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Friday, March 14th will be issued a $0.05 dividend. The ex-dividend date of this dividend is Friday, March 14th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 2.47%. Leggett & Platt's dividend payout ratio (DPR) is presently -5.36%.

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.