M&T Bank Corp Sells 40,343 Shares of Leggett & Platt, Incorporated (NYSE:LEG)

M&T Bank Corp lowered its holdings in shares of Leggett & Platt, Incorporated (NYSE:LEG - Free Report) by 73.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 14,828 shares of the company's stock after selling 40,343 shares during the quarter. M&T Bank Corp's holdings in Leggett & Platt were worth $142,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in LEG. Janney Montgomery Scott LLC grew its holdings in Leggett & Platt by 5.3% during the 3rd quarter. Janney Montgomery Scott LLC now owns 87,882 shares of the company's stock valued at $1,197,000 after buying an additional 4,442 shares in the last quarter. State of New Jersey Common Pension Fund D purchased a new position in shares of Leggett & Platt in the third quarter valued at $2,089,000. GSA Capital Partners LLP bought a new stake in Leggett & Platt in the third quarter worth $456,000. Aigen Investment Management LP purchased a new stake in Leggett & Platt during the third quarter valued at $284,000. Finally, Quest Partners LLC lifted its position in Leggett & Platt by 4,511,800.0% during the third quarter. Quest Partners LLC now owns 45,119 shares of the company's stock valued at $615,000 after purchasing an additional 45,118 shares during the last quarter. 64.23% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on LEG shares. Truist Financial reduced their target price on shares of Leggett & Platt from $13.00 to $11.00 and set a "hold" rating on the stock in a report on Wednesday, January 29th. The Goldman Sachs Group decreased their price objective on Leggett & Platt from $14.00 to $12.00 and set a "neutral" rating on the stock in a research report on Tuesday, January 14th.

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Leggett & Platt Trading Up 1.9 %

Leggett & Platt stock traded up $0.15 during mid-day trading on Wednesday, hitting $8.26. The company's stock had a trading volume of 1,549,460 shares, compared to its average volume of 1,998,165. Leggett & Platt, Incorporated has a one year low of $7.91 and a one year high of $19.33. The stock has a market cap of $1.11 billion, a PE ratio of -2.22 and a beta of 1.11. The company has a 50 day moving average of $9.75 and a 200-day moving average of $11.20. The company has a debt-to-equity ratio of 2.70, a quick ratio of 1.14 and a current ratio of 2.00.

Leggett & Platt (NYSE:LEG - Get Free Report) last posted its quarterly earnings results on Thursday, February 13th. The company reported $0.21 EPS for the quarter, hitting the consensus estimate 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%. On average, research analysts anticipate that Leggett & Platt, Incorporated will post 1.14 EPS for the current year.

Leggett & Platt Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Friday, March 14th will be issued a $0.05 dividend. The ex-dividend date of this dividend is Friday, March 14th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 2.42%. Leggett & Platt's payout ratio is -5.36%.

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.