Leggett & Platt, Incorporated (NYSE:LEG - Get Free Report)'s share price fell 4.6% during trading on Tuesday . The stock traded as low as $8.21 and last traded at $8.18. 631,762 shares changed hands during trading, a decline of 72% from the average session volume of 2,279,372 shares. The stock had previously closed at $8.57.
Analyst Ratings Changes
A number of research analysts have commented on the stock. Truist Financial reduced 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. The Goldman Sachs Group reduced their target price on shares of Leggett & Platt from $14.00 to $12.00 and set a "neutral" rating on the stock in a report on Tuesday, January 14th.
Read Our Latest Stock Report on LEG
Leggett & Platt Price Performance
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's fifty day moving average price is $9.43 and its 200-day moving average price is $11.00. The stock has a market cap of $1.07 billion, a P/E ratio of -2.14 and a beta of 1.11.
Leggett & Platt (NYSE:LEG - Get Free Report) last announced its quarterly earnings results on Thursday, February 13th. The company reported $0.21 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $0.21. The business had revenue of $1.06 billion for the quarter, compared to analyst estimates of $1.03 billion. Leggett & Platt had a negative net margin of 11.67% and a positive return on equity of 17.09%. Analysts forecast that Leggett & Platt, Incorporated will post 1.14 earnings per share for the current year.
Leggett & Platt Announces Dividend
The firm also recently declared 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. This represents a $0.20 dividend on an annualized basis and a yield of 2.51%. The ex-dividend date is Friday, March 14th. Leggett & Platt's payout ratio is -5.36%.
Institutional Investors Weigh In On Leggett & Platt
A number of large investors have recently made changes to their positions in LEG. Intech Investment Management LLC bought a new stake in Leggett & Platt in the third quarter valued at $302,000. Cerity Partners LLC lifted its position in shares of Leggett & Platt by 158.2% in the 3rd quarter. Cerity Partners LLC now owns 83,402 shares of the company's stock worth $1,136,000 after purchasing an additional 51,106 shares during the period. FMR LLC boosted its stake in shares of Leggett & Platt by 3,264.5% during 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. Brooklyn Investment Group purchased a new position in shares of Leggett & Platt during the third quarter valued at about $44,000. Finally, Glenmede Trust Co. NA raised its stake in Leggett & Platt by 34.3% in the third quarter. Glenmede Trust Co. NA now owns 15,949 shares of the company's stock worth $217,000 after buying an additional 4,074 shares in the last quarter. 64.23% of the stock is currently owned by institutional investors.
Leggett & Platt Company Profile
(
Get Free Report)
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.
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