Leggett & Platt, Incorporated (NYSE:LEG) Shares Sold by UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lowered its stake in shares of Leggett & Platt, Incorporated (NYSE:LEG - Free Report) by 21.4% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 389,068 shares of the company's stock after selling 106,018 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned about 0.29% of Leggett & Platt worth $5,299,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently modified their holdings of LEG. Allspring Global Investments Holdings LLC grew its holdings in shares of Leggett & Platt by 76.3% during the third quarter. Allspring Global Investments Holdings LLC now owns 2,043 shares of the company's stock worth $28,000 after buying an additional 884 shares in the last quarter. Fifth Third Bancorp boosted its position in Leggett & Platt by 367.8% during the second quarter. Fifth Third Bancorp now owns 3,396 shares of the company's stock worth $39,000 after acquiring an additional 2,670 shares during the last quarter. nVerses Capital LLC purchased a new stake in Leggett & Platt during the 3rd quarter valued at about $41,000. Brooklyn Investment Group acquired a new stake in Leggett & Platt in the 3rd quarter valued at about $44,000. Finally, EverSource Wealth Advisors LLC lifted its stake in Leggett & Platt by 343.8% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 4,371 shares of the company's stock worth $50,000 after purchasing an additional 3,386 shares in the last quarter. Institutional investors and hedge funds own 64.23% of the company's stock.

Wall Street Analyst Weigh In

LEG has been the subject of a number of analyst reports. Piper Sandler upgraded Leggett & Platt from an "underweight" rating to a "neutral" rating and upped their price target for the company from $11.00 to $13.00 in a research report on Wednesday, October 30th. StockNews.com upgraded Leggett & Platt from a "sell" rating to a "hold" rating in a report on Wednesday, August 28th. Four research analysts have rated the stock with a hold rating, According to data from MarketBeat, Leggett & Platt currently has an average rating of "Hold" and a consensus target price of $12.67.

Leggett & Platt Trading Down 1.2 %

Shares of NYSE LEG traded down $0.14 during midday trading on Thursday, reaching $11.51. 3,351,203 shares of the stock were exchanged, compared to its average volume of 2,246,690. The stock has a market capitalization of $1.55 billion, a P/E ratio of -1.94 and a beta of 1.07. The company has a debt-to-equity ratio of 2.13, a quick ratio of 0.84 and a current ratio of 1.48. The company has a 50 day simple moving average of $12.39 and a 200 day simple moving average of $12.29. Leggett & Platt, Incorporated has a twelve month low of $10.11 and a twelve month high of $27.58.

Leggett & Platt (NYSE:LEG - Get Free Report) last posted its earnings results on Monday, October 28th. The company reported $0.32 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.33 by ($0.01). Leggett & Platt had a positive return on equity of 14.99% and a negative net margin of 18.53%. The business had revenue of $1.10 billion for the quarter, compared to analyst estimates of $1.10 billion. During the same period last year, the business earned $0.36 EPS. Leggett & Platt's revenue was down 6.3% compared to the same quarter last year. As a group, equities analysts expect that Leggett & Platt, Incorporated will post 1.05 earnings per share for the current year.

Leggett & Platt Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Friday, December 13th will be paid a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a yield of 1.74%. The ex-dividend date of this dividend is Friday, December 13th. Leggett & Platt's dividend payout ratio (DPR) is presently -3.33%.

Leggett & Platt Profile

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.