Leggett & Platt, Incorporated (NYSE:LEG) Short Interest Update

Leggett & Platt, Incorporated (NYSE:LEG - Get Free Report) saw a large drop in short interest in the month of March. As of March 31st, there was short interest totalling 8,680,000 shares, a drop of 21.7% from the March 15th total of 11,080,000 shares. Based on an average trading volume of 2,540,000 shares, the days-to-cover ratio is currently 3.4 days. Currently, 6.6% of the company's shares are sold short.

Leggett & Platt Stock Up 1.3 %

NYSE:LEG traded up $0.10 during mid-day trading on Thursday, hitting $7.41. The stock had a trading volume of 1,004,226 shares, compared to its average volume of 2,512,392. Leggett & Platt has a twelve month low of $6.48 and a twelve month high of $18.39. The stock has a 50-day simple moving average of $8.12 and a two-hundred day simple moving average of $10.20. 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 company has a market capitalization of $997.71 million, a PE ratio of -1.99 and a beta of 0.98.

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

Leggett & Platt Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Stockholders of record on Friday, March 14th were given a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a dividend yield of 2.70%. The ex-dividend date was Friday, March 14th. Leggett & Platt's dividend payout ratio (DPR) is presently -5.36%.

Analyst Ratings Changes

Several analysts have recently issued reports on LEG shares. Piper Sandler reissued a "neutral" rating and set a $9.00 price target (down previously from $12.00) on shares of Leggett & Platt in a research report on Friday, April 11th. Truist Financial reduced their target price on shares of Leggett & Platt from $13.00 to $11.00 and set a "hold" rating on the stock in a report on Wednesday, January 29th. Finally, The Goldman Sachs Group decreased their price target on shares of Leggett & Platt from $14.00 to $12.00 and set a "neutral" rating for the company in a research report on Tuesday, January 14th.

Institutional Investors Weigh In On Leggett & Platt

Several institutional investors have recently added to or reduced their stakes in LEG. Stifel Financial Corp lifted its position in shares of Leggett & Platt by 3.9% during the 3rd quarter. Stifel Financial Corp now owns 84,996 shares of the company's stock worth $1,158,000 after buying an additional 3,202 shares during the last quarter. XTX Topco Ltd purchased a new stake in Leggett & Platt in the third quarter valued at $234,000. Geode Capital Management LLC boosted 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 acquiring an additional 60,166 shares in the last quarter. JPMorgan Chase & Co. grew its holdings in shares of Leggett & Platt by 38.0% during the third quarter. JPMorgan Chase & Co. now owns 581,665 shares of the company's stock worth $7,922,000 after purchasing an additional 160,104 shares during the last quarter. Finally, GAMMA Investing LLC increased its position in shares of Leggett & Platt by 2,069.7% during the fourth quarter. GAMMA Investing LLC now owns 12,302 shares of the company's stock worth $118,000 after purchasing an additional 11,735 shares in the last quarter. Hedge funds and other institutional investors own 64.23% of the company's stock.

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.