Victory Capital Management Inc. Cuts Stock Position in Leggett & Platt, Incorporated (NYSE:LEG)

Victory Capital Management Inc. reduced its position in shares of Leggett & Platt, Incorporated (NYSE:LEG - Free Report) by 86.1% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 30,926 shares of the company's stock after selling 190,837 shares during the period. Victory Capital Management Inc.'s holdings in Leggett & Platt were worth $354,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in the company. Vanguard Group Inc. boosted its position in Leggett & Platt by 0.4% during the fourth quarter. Vanguard Group Inc. now owns 12,996,067 shares of the company's stock worth $340,107,000 after acquiring an additional 49,086 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of Leggett & Platt by 12.4% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,373,959 shares of the company's stock worth $62,127,000 after purchasing an additional 262,145 shares during the last quarter. ProShare Advisors LLC grew its position in shares of Leggett & Platt by 1.0% in the first quarter. ProShare Advisors LLC now owns 1,284,654 shares of the company's stock valued at $24,601,000 after purchasing an additional 12,502 shares in the last quarter. Norges Bank acquired a new stake in shares of Leggett & Platt in the fourth quarter valued at approximately $26,814,000. Finally, Speece Thorson Capital Group Inc. lifted its position in Leggett & Platt by 0.3% during the fourth quarter. Speece Thorson Capital Group Inc. now owns 805,751 shares of the company's stock worth $21,087,000 after buying an additional 2,674 shares in the last quarter. Institutional investors and hedge funds own 64.23% of the company's stock.

Leggett & Platt Trading Up 5.5 %

Shares of Leggett & Platt stock traded up $0.72 during trading hours on Tuesday, hitting $13.72. The company's stock had a trading volume of 1,541,220 shares, compared to its average volume of 2,437,613. The stock has a market cap of $1.84 billion, a price-to-earnings ratio of -11.21 and a beta of 1.07. The company has a debt-to-equity ratio of 2.55, a quick ratio of 0.88 and a current ratio of 1.53. Leggett & Platt, Incorporated has a twelve month low of $10.11 and a twelve month high of $27.58. The firm has a fifty day moving average of $12.58 and a 200-day moving average of $13.88.

Leggett & Platt (NYSE:LEG - Get Free Report) last posted its earnings results on Thursday, August 1st. The company reported $0.29 EPS for the quarter, meeting analysts' consensus estimates of $0.29. The company had revenue of $1.13 billion for the quarter, compared to analysts' expectations of $1.13 billion. Leggett & Platt had a negative net margin of 18.05% and a positive return on equity of 12.65%. Research analysts forecast that Leggett & Platt, Incorporated will post 1.14 EPS for the current year.

Leggett & Platt Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Friday, September 13th will be given a dividend of $0.05 per share. The ex-dividend date is Friday, September 13th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.46%. Leggett & Platt's payout ratio is currently -17.24%.

Analyst Ratings Changes

Several analysts have issued reports on the company. The Goldman Sachs Group dropped their target price on Leggett & Platt from $14.00 to $12.00 and set a "neutral" rating for the company in a report on Wednesday, July 10th. StockNews.com upgraded shares of Leggett & Platt from a "sell" rating to a "hold" rating in a research report on Wednesday, August 28th. Finally, Truist Financial lifted their target price on shares of Leggett & Platt from $11.00 to $13.00 and gave the stock a "hold" rating in a research note on Monday, August 5th. One investment analyst has rated the stock with a sell rating and three have given a hold rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Hold" and a consensus target price of $12.67.

About Leggett & Platt

Leggett & Platt, Incorporated designs, manufactures, and sells engineered components and products in the United States, Europe, China, Canada, Mexico, and internationally. It operates through three segments: Bedding Products; Specialized Products; and Furniture, Flooring & Textile Products. The company offers steel rods, drawn wires, specialty foam chemicals and additives, innersprings, specialty foam for use in bedding and furniture, private label finished mattresses, ready-to-assemble mattress foundations, static foundations, and adjustable beds, as well as machines for producing innersprings; industrial sewing and quilting machines; mattress-packaging; and glue-drying equipment for various industrial users of steel rod and wire, manufacturers of finished bedding, bedding brands and mattress retailers, E-commerce retailers, big box retailers, department stores, and home improvement centers.