Leggett & Platt (NYSE:LEG) Reaches New 12-Month Low - Should You Sell?

Leggett & Platt, Incorporated (NYSE:LEG - Get Free Report) reached a new 52-week low during trading on Wednesday . The stock traded as low as $6.49 and last traded at $6.50, with a volume of 815890 shares changing hands. The stock had previously closed at $6.67.

Wall Street Analyst Weigh In

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

Leggett & Platt Trading Up 4.5 %

The stock has a market capitalization of $923.87 million, a price-to-earnings ratio of -1.84 and a beta of 0.98. The company's 50 day moving average is $8.36 and its 200 day moving average is $10.38. The company has a debt-to-equity ratio of 2.70, a quick ratio of 1.14 and a current ratio of 2.00.

Leggett & Platt (NYSE:LEG - Get Free Report) last posted its quarterly earnings results on Thursday, February 13th. The company reported $0.21 earnings per share for the quarter, hitting analysts' consensus estimates of $0.21. The firm had revenue of $1.06 billion for 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, research analysts forecast that Leggett & Platt, Incorporated will post 1.14 EPS for the current fiscal year.

Leggett & Platt Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Friday, March 14th were given a dividend of $0.05 per share. The ex-dividend date of this dividend was Friday, March 14th. This represents a $0.20 annualized dividend and a dividend yield of 2.92%. Leggett & Platt's dividend payout ratio (DPR) is presently -5.36%.

Institutional Trading of Leggett & Platt

Several large investors have recently added to or reduced their stakes in LEG. CIBC Asset Management Inc increased its holdings in Leggett & Platt by 7.7% during the 4th quarter. CIBC Asset Management Inc now owns 13,986 shares of the company's stock valued at $134,000 after purchasing an additional 1,001 shares in the last quarter. Sterling Capital Management LLC raised its holdings in shares of Leggett & Platt by 17.1% in the fourth quarter. Sterling Capital Management LLC now owns 7,972 shares of the company's stock valued at $77,000 after buying an additional 1,163 shares during the last quarter. Swiss National Bank lifted its position in Leggett & Platt by 0.8% during the 4th quarter. Swiss National Bank now owns 263,900 shares of the company's stock worth $2,533,000 after buying an additional 2,100 shares in the last quarter. Deutsche Bank AG grew its holdings in Leggett & Platt by 3.2% during the 4th quarter. Deutsche Bank AG now owns 67,319 shares of the company's stock worth $646,000 after acquiring an additional 2,109 shares during the last quarter. Finally, SRS Capital Advisors Inc. increased its position in Leggett & Platt by 555.8% in the 4th 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 in the last quarter. 64.23% of the stock is owned by institutional investors.

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.