Leggett & Platt, Incorporated (NYSE:LEG) Shares Sold by Advisors Asset Management Inc.

Advisors Asset Management Inc. lowered its stake in shares of Leggett & Platt, Incorporated (NYSE:LEG) by 25.2% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 237,922 shares of the company’s stock after selling 80,139 shares during the quarter. Advisors Asset Management Inc. owned approximately 0.18% of Leggett & Platt worth $2,284,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Point72 Asia Singapore Pte. Ltd. acquired a new position in Leggett & Platt during the 3rd quarter valued at approximately $29,000. Point72 Hong Kong Ltd acquired a new position in Leggett & Platt during the 3rd quarter worth $37,000. SRS Capital Advisors Inc. boosted its position in Leggett & Platt by 555.8% during the 4th quarter. SRS Capital Advisors Inc. now owns 3,102 shares of the company’s stock worth $30,000 after acquiring an additional 2,629 shares during the period. Brooklyn Investment Group acquired a new position in Leggett & Platt during the 3rd quarter worth $44,000. Finally, SBI Securities Co. Ltd. acquired a new position in Leggett & Platt during the 4th quarter worth $50,000. Institutional investors and hedge funds own 64.23% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the company. The Goldman Sachs Group reduced their price target on Leggett & Platt from $14.00 to $12.00 and set a “neutral” rating for the company in a research report on Tuesday, January 14th. Truist Financial reduced their price target 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 Stock Down 1.0 %

LEG opened at $8.22 on Friday. Leggett & Platt, Incorporated has a one year low of $7.92 and a one year high of $19.33. The company has a debt-to-equity ratio of 2.70, a quick ratio of 1.14 and a current ratio of 2.00. The stock’s fifty day moving average is $9.66 and its 200-day moving average is $11.12. The company has a market capitalization of $1.11 billion, a PE ratio of -2.20 and a beta of 1.11.

Leggett & Platt (NYSE:LEG) last posted its quarterly earnings data on Thursday, February 13th. The company reported $0.21 EPS for the quarter, hitting analysts’ consensus estimates of $0.21. Leggett & Platt had a positive return on equity of 17.09% and a negative net margin of 11.67%. The company had revenue of $1.06 billion for the quarter, compared to the consensus estimate of $1.03 billion. On average, equities analysts predict that Leggett & Platt, Incorporated will post 1.14 EPS for the current fiscal year.

Leggett & Platt Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Friday, March 14th will be issued a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a dividend yield of 2.43%. The ex-dividend date of this dividend is Friday, March 14th. Leggett & Platt’s dividend 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.