Leggett & Platt, Incorporated (NYSE:LEG) Stake Cut by LPL Financial LLC

LPL Financial LLC trimmed its holdings in shares of Leggett & Platt, Incorporated (NYSE:LEG - Free Report) by 41.1% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 94,833 shares of the company's stock after selling 66,307 shares during the period. LPL Financial LLC owned approximately 0.07% of Leggett & Platt worth $910,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of LEG. CIBC Asset Management Inc increased its stake in Leggett & Platt by 7.7% during the 4th quarter. CIBC Asset Management Inc now owns 13,986 shares of the company's stock valued at $134,000 after buying an additional 1,001 shares during the period. Swiss National Bank boosted its holdings in shares of Leggett & Platt by 0.8% in the fourth quarter. Swiss National Bank now owns 263,900 shares of the company's stock valued at $2,533,000 after acquiring an additional 2,100 shares in the last quarter. SRS Capital Advisors Inc. increased its stake in shares of Leggett & Platt by 555.8% during the fourth quarter. SRS Capital Advisors Inc. now owns 3,102 shares of the company's stock valued at $30,000 after acquiring an additional 2,629 shares during the period. KBC Group NV raised its holdings in 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 in the last quarter. Finally, Jones Financial Companies Lllp lifted its position in Leggett & Platt by 29.3% in the fourth quarter. Jones Financial Companies Lllp now owns 13,529 shares of the company's stock worth $130,000 after purchasing an additional 3,069 shares during the period. 64.23% of the stock is currently owned by institutional investors.

Leggett & Platt Price Performance

Shares of NYSE LEG traded up $0.15 during trading on Wednesday, hitting $7.30. The company had a trading volume of 3,015,315 shares, compared to its average volume of 2,513,249. The company has a market cap of $983.56 million, a P/E ratio of -1.96 and a beta of 0.98. The company has a debt-to-equity ratio of 2.70, a quick ratio of 1.14 and a current ratio of 2.00. The business's 50-day moving average is $8.18 and its 200 day moving average is $10.22. Leggett & Platt, Incorporated has a 52 week low of $6.48 and a 52 week high of $18.44.

Leggett & Platt (NYSE:LEG - Get Free Report) last announced its earnings results on Thursday, February 13th. The company reported $0.21 EPS for the quarter, meeting the consensus estimate of $0.21. The business had revenue of $1.06 billion during 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%. Equities research analysts predict that Leggett & Platt, Incorporated will post 1.14 earnings per share for the current fiscal year.

Leggett & Platt Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Stockholders of record on Friday, March 14th were given a $0.05 dividend. This represents a $0.20 annualized dividend and a dividend yield of 2.74%. The ex-dividend date of this dividend was Friday, March 14th. Leggett & Platt's dividend payout ratio (DPR) is currently -5.36%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. Piper Sandler reiterated a "neutral" rating and set a $9.00 price target (down from $12.00) on shares of Leggett & Platt in a research report on Friday, April 11th. 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 report on Tuesday, January 14th. Finally, Truist Financial cut their price target 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.

Leggett & Platt 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.