Commonwealth Equity Services LLC Sells 302,204 Shares of Leggett & Platt, Incorporated (NYSE:LEG)

Commonwealth Equity Services LLC cut its holdings in Leggett & Platt, Incorporated (NYSE:LEG - Free Report) by 93.4% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 21,223 shares of the company's stock after selling 302,204 shares during the quarter. Commonwealth Equity Services LLC's holdings in Leggett & Platt were worth $243,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the business. Vanguard Group Inc. boosted its stake in Leggett & Platt by 0.4% during the 4th 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. ProShare Advisors LLC boosted its position in shares of Leggett & Platt by 1.0% during the first quarter. ProShare Advisors LLC now owns 1,284,654 shares of the company's stock worth $24,601,000 after purchasing an additional 12,502 shares in the last quarter. Norges Bank acquired a new position in shares of Leggett & Platt in the 4th quarter valued at $26,814,000. Speece Thorson Capital Group Inc. increased its position in shares of Leggett & Platt by 0.3% in the 4th quarter. Speece Thorson Capital Group Inc. now owns 805,751 shares of the company's stock valued at $21,087,000 after buying an additional 2,674 shares in the last quarter. Finally, Principal Financial Group Inc. lifted its holdings in Leggett & Platt by 31.0% during the second quarter. Principal Financial Group Inc. now owns 658,117 shares of the company's stock worth $7,542,000 after acquiring an additional 155,860 shares in the last quarter. Institutional investors and hedge funds own 64.23% of the company's stock.

Leggett & Platt Stock Up 2.9 %

Shares of NYSE:LEG traded up $0.38 during mid-day trading on Thursday, reaching $13.61. 980,852 shares of the stock were exchanged, compared to its average volume of 2,426,040. The stock's 50 day simple moving average is $12.61 and its 200-day simple moving average is $13.83. Leggett & Platt, Incorporated has a one year low of $10.11 and a one year high of $27.58. The company has a market cap of $1.82 billion, a P/E ratio of -11.41 and a beta of 1.07. The company has a quick ratio of 0.88, a current ratio of 1.53 and a debt-to-equity ratio of 2.55.

Leggett & Platt (NYSE:LEG - Get Free Report) last announced its quarterly earnings data on Thursday, August 1st. The company reported $0.29 EPS for the quarter, hitting analysts' consensus estimates of $0.29. The business had revenue of $1.13 billion for the quarter, compared to analyst estimates of $1.13 billion. Leggett & Platt had a negative net margin of 18.05% and a positive return on equity of 12.65%. As a group, equities research analysts predict that Leggett & Platt, Incorporated will post 1.14 EPS for the current year.

Leggett & Platt Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Friday, September 13th will be given a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.47%. The ex-dividend date is Friday, September 13th. Leggett & Platt's dividend payout ratio is currently -17.24%.

Analysts Set New Price Targets

Several brokerages have issued reports on LEG. Truist Financial increased their price target on Leggett & Platt from $11.00 to $13.00 and gave the stock a "hold" rating in a report on Monday, August 5th. The Goldman Sachs Group dropped 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 Wednesday, July 10th. Finally, StockNews.com upgraded shares of Leggett & Platt from a "sell" rating to a "hold" rating in a report on Wednesday, August 28th. One equities research analyst has rated the stock with a sell rating and three have issued a hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target 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.