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

Leggett & Platt, Incorporated (NYSE:LEG - Get Free Report) hit a new 52-week low on Monday . The company 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

LEG has been the subject of several research analyst reports. Truist Financial reduced their target price on shares of Leggett & Platt from $13.00 to $11.00 and set a "hold" rating for the company in a 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 on the stock in a research note on Tuesday, January 14th.

Leggett & Platt Trading Down 1.0 %

The firm has a market capitalization of $1.05 billion, a P/E ratio of -2.09 and a beta of 1.11. The company has a quick ratio of 1.14, a current ratio of 2.00 and a debt-to-equity ratio of 2.70. The firm has a 50 day moving average of $9.31 and a 200-day moving average of $10.93.

Leggett & Platt (NYSE:LEG - Get Free Report) last posted its quarterly earnings data on Thursday, February 13th. The company reported $0.21 earnings per share for the quarter, hitting 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 during the quarter, compared to analysts' expectations of $1.03 billion. On average, equities research analysts predict that Leggett & Platt, Incorporated will post 1.14 earnings per share for the current fiscal year.

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Leggett & Platt Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Friday, March 14th will be given a dividend of $0.05 per share. The ex-dividend date is Friday, March 14th. This represents a $0.20 annualized dividend and a yield of 2.57%. Leggett & Platt's dividend payout ratio is currently -5.36%.

Institutional Investors Weigh In On Leggett & Platt

A number of large investors have recently modified their holdings of the business. Intech Investment Management LLC bought a new stake in shares of Leggett & Platt during the 3rd quarter worth $302,000. Cerity Partners LLC lifted its holdings in shares of Leggett & Platt by 158.2% in the third quarter. Cerity Partners LLC now owns 83,402 shares of the company's stock worth $1,136,000 after acquiring an additional 51,106 shares during the last quarter. FMR LLC boosted its stake in shares of Leggett & Platt by 3,264.5% in the 3rd quarter. FMR LLC now owns 692,884 shares of the company's stock valued at $9,437,000 after purchasing an additional 672,290 shares in the last quarter. Glenmede Trust Co. NA grew its holdings in shares of Leggett & Platt by 34.3% during the 3rd quarter. Glenmede Trust Co. NA now owns 15,949 shares of the company's stock valued at $217,000 after purchasing an additional 4,074 shares during the last quarter. Finally, PEAK6 Investments LLC acquired a new position in Leggett & Platt during the 3rd quarter worth approximately $1,067,000. Institutional investors and hedge funds own 64.23% of the company's stock.

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.