Headlands Technologies LLC Sells 8,321 Shares of Leggett & Platt, Incorporated (NYSE:LEG)

Headlands Technologies LLC decreased its stake in Leggett & Platt, Incorporated (NYSE:LEG) by 19.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 34,754 shares of the company’s stock after selling 8,321 shares during the period. Headlands Technologies LLC’s holdings in Leggett & Platt were worth $334,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Leggett & Platt in the 3rd quarter worth approximately $29,000. SRS Capital Advisors Inc. lifted its stake in Leggett & Platt by 555.8% in the fourth quarter. SRS Capital Advisors Inc. now owns 3,102 shares of the company’s stock worth $30,000 after purchasing an additional 2,629 shares during the last quarter. SBI Securities Co. Ltd. bought a new position in shares of Leggett & Platt during the fourth quarter valued at about $50,000. KBC Group NV grew its stake in shares of Leggett & Platt by 74.5% during the fourth quarter. KBC Group NV now owns 7,028 shares of the company’s stock valued at $67,000 after buying an additional 3,000 shares during the last quarter. Finally, Blue Trust Inc. increased its holdings in shares of Leggett & Platt by 461.6% in the fourth quarter. Blue Trust Inc. now owns 9,688 shares of the company’s stock worth $93,000 after buying an additional 7,963 shares during the period. Hedge funds and other institutional investors own 64.23% of the company’s stock.

Leggett & Platt Stock Down 3.7 %

Shares of Leggett & Platt stock opened at $7.16 on Friday. 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, Incorporated has a 12-month low of $6.68 and a 12-month high of $19.33. The company has a market cap of $964.02 million, a P/E ratio of -1.92 and a beta of 1.11. The company’s fifty day simple moving average is $9.12 and its two-hundred day simple moving average is $10.85.

Leggett & Platt (NYSE:LEG) last announced its quarterly earnings results on Thursday, February 13th. The company reported $0.21 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.21. Leggett & Platt had a negative net margin of 11.67% and a positive return on equity of 17.09%. The company had revenue of $1.06 billion for the quarter, compared to analysts’ expectations of $1.03 billion. Research analysts anticipate that Leggett & Platt, Incorporated will post 1.14 EPS for the current year.

Leggett & Platt Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Friday, March 14th will be given a dividend of $0.05 per share. The ex-dividend date is Friday, March 14th. This represents a $0.20 annualized dividend and a dividend yield of 2.80%. Leggett & Platt’s dividend payout ratio is presently -5.36%.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the stock. Truist Financial dropped their price target on shares of Leggett & Platt from $13.00 to $11.00 and set a “hold” rating for the company in a research report on Wednesday, January 29th. The Goldman Sachs Group cut their target price on Leggett & Platt from $14.00 to $12.00 and set a “neutral” rating on the stock in a research note on Tuesday, January 14th.

Leggett & Platt 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.