Leggett & Platt, Incorporated (NYSE:LEG - Get Free Report)'s share price hit a new 52-week low during mid-day trading on Monday . The stock traded as low as $9.18 and last traded at $9.31, with a volume of 274163 shares. The stock had previously closed at $9.56.
Wall Street Analyst Weigh In
Separately, Piper Sandler upgraded shares of Leggett & Platt from an "underweight" rating to a "neutral" rating and upped their target price for the company from $11.00 to $13.00 in a research note on Wednesday, October 30th. Four equities research analysts have rated the stock with a hold rating, Based on data from MarketBeat, Leggett & Platt presently has an average rating of "Hold" and a consensus target price of $12.67.
Get Our Latest Analysis on LEG
Leggett & Platt Stock Performance
The stock has a market capitalization of $1.28 billion, a P/E ratio of -1.58 and a beta of 1.07. The company has a quick ratio of 0.84, a current ratio of 1.48 and a debt-to-equity ratio of 2.13. The firm has a 50-day moving average of $11.61 and a 200 day moving average of $12.16.
Leggett & Platt (NYSE:LEG - Get Free Report) last released 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 company had revenue of $1.10 billion for the quarter, compared to analyst estimates of $1.10 billion. During the same quarter in the prior year, the company earned $0.36 earnings per share. The business's revenue was down 6.3% compared to the same quarter last year. Research analysts anticipate that Leggett & Platt, Incorporated will post 1.05 EPS for the current fiscal year.
Leggett & Platt Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Friday, December 13th will be issued a dividend of $0.05 per share. The ex-dividend date is Friday, December 13th. This represents a $0.20 dividend on an annualized basis and a yield of 2.11%. Leggett & Platt's dividend payout ratio is -3.33%.
Hedge Funds Weigh In On Leggett & Platt
A number of institutional investors and hedge funds have recently bought and sold shares of LEG. Allspring Global Investments Holdings LLC increased its stake in shares of Leggett & Platt by 76.3% in the third quarter. Allspring Global Investments Holdings LLC now owns 2,043 shares of the company's stock valued at $28,000 after buying an additional 884 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new stake in Leggett & Platt in the 3rd quarter valued at about $29,000. Point72 Hong Kong Ltd bought a new position in shares of Leggett & Platt in the third quarter worth about $37,000. nVerses Capital LLC acquired a new position in shares of Leggett & Platt during the third quarter worth approximately $41,000. Finally, Brooklyn Investment Group bought a new stake in shares of Leggett & Platt during the third quarter valued at approximately $44,000. Institutional investors and hedge funds own 64.23% of the company's stock.
Leggett & Platt Company Profile
(
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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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