Shares of Leggett & Platt, Incorporated (NYSE:LEG - Get Free Report) reached a new 52-week low during mid-day trading on Wednesday . The company traded as low as $10.08 and last traded at $10.17, with a volume of 1569526 shares traded. The stock had previously closed at $10.80.
Wall Street Analyst Weigh In
Several research firms have commented on LEG. StockNews.com raised shares of Leggett & Platt from a "sell" rating to a "hold" rating in a research report on Wednesday, August 28th. Piper Sandler upgraded shares of Leggett & Platt from an "underweight" rating to a "neutral" rating and boosted their price objective for the stock from $11.00 to $13.00 in a report on Wednesday, October 30th. Four equities research analysts have rated the stock with a hold rating, Based on data from MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $12.67.
Check Out Our Latest Report on Leggett & Platt
Leggett & Platt Stock Down 6.2 %
The company has a market capitalization of $1.36 billion, a PE ratio of -1.69 and a beta of 1.07. The company has a debt-to-equity ratio of 2.13, a current ratio of 1.48 and a quick ratio of 0.84. The company has a 50-day moving average of $12.22 and a two-hundred day moving average of $12.31.
Leggett & Platt (NYSE:LEG - Get Free Report) last issued its quarterly earnings data on Monday, October 28th. The company reported $0.32 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.33 by ($0.01). Leggett & Platt had a positive return on equity of 14.99% and a negative net margin of 18.53%. The firm had revenue of $1.10 billion for the quarter, compared to analysts' expectations of $1.10 billion. During the same period last year, the company earned $0.36 earnings per share. The firm's revenue was down 6.3% on a year-over-year basis. Sell-side analysts anticipate that Leggett & Platt, Incorporated will post 1.05 earnings per share for the current fiscal year.
Leggett & Platt Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Friday, December 13th will be issued a $0.05 dividend. This represents a $0.20 annualized dividend and a yield of 1.97%. The ex-dividend date of this dividend is Friday, December 13th. Leggett & Platt's dividend payout ratio is currently -3.33%.
Institutional Investors Weigh In On Leggett & Platt
A number of institutional investors and hedge funds have recently modified their holdings of the company. Pacer Advisors Inc. lifted its stake in shares of Leggett & Platt by 426.2% in the second quarter. Pacer Advisors Inc. now owns 14,042,134 shares of the company's stock worth $160,923,000 after buying an additional 11,373,507 shares in the last quarter. AQR Capital Management LLC lifted its stake in Leggett & Platt by 1,098.0% in the second quarter. AQR Capital Management LLC now owns 2,005,408 shares of the company's stock worth $22,160,000 after acquiring an additional 1,838,009 shares during the last quarter. Wellington Management Group LLP acquired a new position in shares of Leggett & Platt during the third quarter worth $15,735,000. Invenomic Capital Management LP increased its holdings in shares of Leggett & Platt by 384.1% in the 3rd quarter. Invenomic Capital Management LP now owns 921,472 shares of the company's stock valued at $12,550,000 after acquiring an additional 731,132 shares during the last quarter. Finally, FMR LLC raised its holdings in Leggett & Platt by 3,264.5% during the third quarter. FMR LLC now owns 692,884 shares of the company's stock worth $9,437,000 after purchasing an additional 672,290 shares in the last quarter. Institutional investors and hedge funds own 64.23% of the company's stock.
About Leggett & Platt
(
Get Free Report)
Leggett & Platt, Incorporated designs, manufactures, and sells engineered components and products in the United States, Europe, China, Canada, Mexico, and internationally. It operates through three segments: Bedding Products; Specialized Products; and Furniture, Flooring & Textile Products. The company offers steel rods, drawn wires, specialty foam chemicals and additives, innersprings, specialty foam for use in bedding and furniture, private label finished mattresses, ready-to-assemble mattress foundations, static foundations, and adjustable beds, as well as machines for producing innersprings; industrial sewing and quilting machines; mattress-packaging; and glue-drying equipment for various industrial users of steel rod and wire, manufacturers of finished bedding, bedding brands and mattress retailers, E-commerce retailers, big box retailers, department stores, and home improvement centers.
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