Piper Sandler Reaffirms Neutral Rating for Leggett & Platt (NYSE:LEG)

Piper Sandler reiterated their neutral rating on shares of Leggett & Platt (NYSE:LEG - Free Report) in a research report sent to investors on Friday,Benzinga reports. The brokerage currently has a $9.00 target price on the stock, down from their previous target price of $12.00.

LEG has been the topic of several other reports. The Goldman Sachs Group reduced their price target 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. Truist Financial decreased their target price on Leggett & Platt from $13.00 to $11.00 and set a "hold" rating for the company in a research report on Wednesday, January 29th.

Leggett & Platt Price Performance

Shares of NYSE:LEG traded down $0.12 on Friday, hitting $6.55. The company had a trading volume of 606,219 shares, compared to its average volume of 2,484,525. The company has a market cap of $882.51 million, a PE ratio of -1.76 and a beta of 0.98. The business has a 50 day moving average of $8.49 and a 200 day moving average of $10.45. Leggett & Platt has a 52-week low of $6.52 and a 52-week high of $18.49. The company has a current ratio of 2.00, a quick ratio of 1.14 and a debt-to-equity ratio of 2.70.

Leggett & Platt (NYSE:LEG - Get Free Report) last released its earnings results on Thursday, February 13th. The company reported $0.21 EPS for the quarter, meeting the consensus estimate of $0.21. Leggett & Platt had a positive return on equity of 17.09% and a negative net margin of 11.67%. The firm had revenue of $1.06 billion during the quarter, compared to analyst estimates of $1.03 billion. As a group, equities analysts anticipate that Leggett & Platt will post 1.14 earnings per share for the current fiscal year.

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Leggett & Platt Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Friday, March 14th were issued a dividend of $0.05 per share. The ex-dividend date of this dividend was Friday, March 14th. This represents a $0.20 annualized dividend and a yield of 3.05%. Leggett & Platt's payout ratio is -5.36%.

Institutional Investors Weigh In On Leggett & Platt

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Counterpoint Mutual Funds LLC bought a new stake in Leggett & Platt during the fourth quarter worth approximately $666,000. Vanguard Group Inc. lifted its position in shares of Leggett & Platt by 4.9% in the 4th quarter. Vanguard Group Inc. now owns 15,478,476 shares of the company's stock valued at $148,593,000 after acquiring an additional 722,024 shares in the last quarter. American Century Companies Inc. lifted its holdings in shares of Leggett & Platt by 50.3% in the fourth quarter. American Century Companies Inc. now owns 138,972 shares of the company's stock valued at $1,334,000 after purchasing an additional 46,499 shares in the last quarter. Trexquant Investment LP grew its holdings in shares of Leggett & Platt by 89.0% during the fourth quarter. Trexquant Investment LP now owns 1,177,891 shares of the company's stock valued at $11,308,000 after buying an additional 554,814 shares in the last quarter. Finally, Amundi boosted its position in Leggett & Platt by 90.3% during the 4th quarter. Amundi now owns 82,890 shares of the company's stock worth $814,000 after acquiring an additional 39,324 shares during the period. 64.23% of the stock is currently owned by institutional investors.

About Leggett & Platt

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.