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

Leggett & Platt, Incorporated (NYSE:LEG - Get Free Report)'s stock price hit a new 52-week low during trading on Wednesday . The company traded as low as $8.48 and last traded at $8.58, with a volume of 3221800 shares changing hands. The stock had previously closed at $8.90.

Analyst Ratings Changes

Several equities analysts recently commented on the company. The Goldman Sachs Group dropped their target price on Leggett & Platt from $14.00 to $12.00 and set a "neutral" rating for the company in a research note on Tuesday, January 14th. Truist Financial dropped their price objective on shares of Leggett & Platt from $13.00 to $11.00 and set a "hold" rating for the company in a research note on Wednesday, January 29th. Four investment analysts have rated the stock with a hold rating, According to MarketBeat.com, Leggett & Platt has an average rating of "Hold" and a consensus price target of $12.00.

Leggett & Platt Stock Up 1.2 %

The firm has a market capitalization of $1.17 billion, a PE ratio of -2.33 and a beta of 1.12. 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 firm has a 50-day moving average of $10.02 and a two-hundred day moving average of $11.51.

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

Leggett & Platt Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Friday, March 14th will be given a $0.05 dividend. This represents a $0.20 annualized dividend and a dividend yield of 2.30%. The ex-dividend date is Friday, March 14th. Leggett & Platt's payout ratio is currently -5.36%.

Institutional Trading of Leggett & Platt

A number of institutional investors have recently added to or reduced their stakes in LEG. PharVision Advisers LLC acquired a new position in shares of Leggett & Platt during the fourth quarter worth about $467,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of Leggett & Platt by 13.3% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 440,909 shares of the company's stock valued at $4,233,000 after buying an additional 51,841 shares during the period. Squarepoint Ops LLC lifted its position in Leggett & Platt by 49.6% during the 4th quarter. Squarepoint Ops LLC now owns 345,589 shares of the company's stock worth $3,318,000 after acquiring an additional 114,536 shares in the last quarter. Two Sigma Advisers LP boosted its holdings in Leggett & Platt by 82.1% in the 4th quarter. Two Sigma Advisers LP now owns 630,100 shares of the company's stock worth $6,049,000 after acquiring an additional 284,100 shares during the period. Finally, Two Sigma Investments LP grew its position in Leggett & Platt by 45.1% in the fourth quarter. Two Sigma Investments LP now owns 874,668 shares of the company's stock valued at $8,397,000 after acquiring an additional 271,917 shares in the last quarter. 64.23% of the stock is owned by hedge funds and other institutional investors.

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.