Leggett & Platt (NYSE:LEG) Reaches New 52-Week Low - Time to Sell?

Leggett & Platt, Incorporated (NYSE:LEG - Get Free Report) shares reached a new 52-week low on Monday . The stock traded as low as $7.74 and last traded at $7.83, with a volume of 200219 shares traded. The stock had previously closed at $7.98.

Analyst Ratings Changes

A number of research firms recently commented on LEG. Truist Financial decreased their price target on Leggett & Platt from $13.00 to $11.00 and set a "hold" rating on the stock in a research report on Wednesday, January 29th. The Goldman Sachs Group lowered 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.

Leggett & Platt Price Performance

The company has a market capitalization of $964.02 million, a price-to-earnings ratio of -1.92 and a beta of 1.11. 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 company has a 50 day moving average price of $9.19 and a 200 day moving average price of $10.89.

Leggett & Platt (NYSE:LEG - Get Free Report) last released its earnings results on Thursday, February 13th. The company reported $0.21 earnings per share (EPS) for the quarter, meeting 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 negative net margin of 11.67% and a positive return on equity of 17.09%. As a group, equities research analysts forecast that Leggett & Platt, Incorporated will post 1.14 earnings per share for the current year.

Leggett & Platt Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Friday, March 14th will be paid a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a dividend yield of 2.80%. The ex-dividend date of this dividend is Friday, March 14th. Leggett & Platt's dividend payout ratio (DPR) is currently -5.36%.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Point72 Asia Singapore Pte. Ltd. acquired a new stake in Leggett & Platt during the 3rd quarter worth $29,000. SRS Capital Advisors Inc. increased its holdings in shares of Leggett & Platt by 555.8% in the fourth quarter. SRS Capital Advisors Inc. now owns 3,102 shares of the company's stock worth $30,000 after acquiring an additional 2,629 shares in the last quarter. SBI Securities Co. Ltd. bought a new stake in shares of Leggett & Platt in the fourth quarter worth about $50,000. KBC Group NV raised its position in shares of Leggett & Platt by 74.5% during the fourth quarter. KBC Group NV now owns 7,028 shares of the company's stock worth $67,000 after purchasing an additional 3,000 shares during the period. Finally, Sterling Capital Management LLC lifted its holdings in shares of Leggett & Platt by 17.1% during the 4th quarter. Sterling Capital Management LLC now owns 7,972 shares of the company's stock valued at $77,000 after purchasing an additional 1,163 shares in the last quarter. 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.