Berkshire Asset Management LLC PA Trims Holdings in Leggett & Platt, Incorporated (NYSE:LEG)

Berkshire Asset Management LLC PA reduced its stake in Leggett & Platt, Incorporated (NYSE:LEG - Free Report) by 14.6% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 356,382 shares of the company's stock after selling 60,944 shares during the quarter. Berkshire Asset Management LLC PA owned approximately 0.27% of Leggett & Platt worth $3,421,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in LEG. CIBC Asset Management Inc raised its holdings in shares of Leggett & Platt by 7.7% in the 4th quarter. CIBC Asset Management Inc now owns 13,986 shares of the company's stock worth $134,000 after purchasing an additional 1,001 shares during the period. Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Leggett & Platt during the third quarter valued at about $29,000. SRS Capital Advisors Inc. boosted its position in shares of Leggett & Platt by 555.8% in the fourth quarter. SRS Capital Advisors Inc. now owns 3,102 shares of the company's stock valued at $30,000 after acquiring an additional 2,629 shares during the period. Point72 Hong Kong Ltd purchased a new position in Leggett & Platt during the third quarter valued at approximately $37,000. Finally, KBC Group NV increased its holdings in Leggett & Platt by 74.5% during the 4th quarter. KBC Group NV now owns 7,028 shares of the company's stock worth $67,000 after acquiring an additional 3,000 shares during the period. 64.23% of the stock is owned by institutional investors.

Leggett & Platt Trading Down 1.0 %

Shares of NYSE:LEG traded down $0.09 on Tuesday, reaching $8.17. 3,441,878 shares of the company traded hands, compared to its average volume of 1,966,773. The stock has a market capitalization of $1.10 billion, a P/E ratio of -2.19 and a beta of 1.11. The business's 50-day simple moving average is $9.93 and its 200 day simple moving average is $11.40. The company has a current ratio of 2.00, a quick ratio of 1.14 and a debt-to-equity ratio of 2.70. Leggett & Platt, Incorporated has a 52 week low of $7.98 and a 52 week high of $20.48.

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

Leggett & Platt Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Friday, March 14th will be paid a $0.05 dividend. The ex-dividend date of this dividend is Friday, March 14th. This represents a $0.20 annualized dividend and a dividend yield of 2.45%. Leggett & Platt's payout ratio is presently -5.36%.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on LEG shares. The Goldman Sachs Group decreased their price target 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 cut their price objective on Leggett & Platt from $13.00 to $11.00 and set a "hold" rating for the company in a report on Wednesday, January 29th. Four equities research analysts have rated the stock with a hold rating, Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $12.00.

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.