Leggett & Platt (NYSE:LEG) Reaches New 52-Week Low - What's Next?

Leggett & Platt, Incorporated (NYSE:LEG - Get Free Report) shares hit a new 52-week low on Thursday . The stock traded as low as $9.16 and last traded at $9.16, with a volume of 974880 shares. The stock had previously closed at $9.41.

Wall Street Analysts Forecast Growth

LEG has been the topic of several recent analyst reports. The Goldman Sachs Group lowered their target price on shares of Leggett & Platt from $14.00 to $12.00 and set a "neutral" rating on the stock in a research report on Tuesday, January 14th. Truist Financial lowered their price target on shares of Leggett & Platt from $13.00 to $11.00 and set a "hold" rating on the stock in a research report on Wednesday, January 29th. Four equities research analysts have rated the stock with a hold rating, According to data from MarketBeat.com, Leggett & Platt presently has a consensus rating of "Hold" and an average target price of $12.00.

Leggett & Platt Stock Down 2.9 %

The firm's 50-day moving average price is $10.06 and its 200 day moving average price is $11.56. The firm has a market capitalization of $1.20 billion, a price-to-earnings ratio of -2.39 and a beta of 1.12. The company has a debt-to-equity ratio of 2.70, a current ratio of 2.00 and a quick ratio of 1.14.

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

Leggett & Platt Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Friday, March 14th will be given a dividend of $0.05 per share. The ex-dividend date of this dividend is Friday, March 14th. This represents a $0.20 dividend on an annualized basis and a yield of 2.25%. Leggett & Platt's dividend payout ratio (DPR) is currently -5.36%.

Institutional Trading of Leggett & Platt

A number of hedge funds have recently bought and sold shares of LEG. Wellington Management Group LLP acquired a new stake in Leggett & Platt during the third quarter worth approximately $15,735,000. Invenomic Capital Management LP boosted its position in Leggett & Platt by 384.1% during the third quarter. Invenomic Capital Management LP now owns 921,472 shares of the company's stock worth $12,550,000 after acquiring an additional 731,132 shares during the last quarter. Vanguard Group Inc. boosted its position in Leggett & Platt by 4.9% during the fourth quarter. Vanguard Group Inc. now owns 15,478,476 shares of the company's stock worth $148,593,000 after acquiring an additional 722,024 shares during the last quarter. FMR LLC boosted its position 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 acquiring an additional 672,290 shares during the last quarter. Finally, Marshall Wace LLP acquired a new stake in Leggett & Platt during the fourth quarter worth approximately $5,858,000. Institutional investors and hedge funds own 64.23% of the company's stock.

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.