CANADA LIFE ASSURANCE Co Sells 3,527 Shares of Leggett & Platt, Incorporated (NYSE:LEG)

CANADA LIFE ASSURANCE Co lowered its stake in Leggett & Platt, Incorporated (NYSE:LEG) by 2.6% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 133,632 shares of the company’s stock after selling 3,527 shares during the period. CANADA LIFE ASSURANCE Co owned approximately 0.10% of Leggett & Platt worth $1,282,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently modified their holdings of the stock. Vanguard Group Inc. grew its position in Leggett & Platt by 4.9% in the fourth 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 during the last quarter. Charles Schwab Investment Management Inc. boosted its stake in shares of Leggett & Platt by 4.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 4,751,066 shares of the company’s stock valued at $45,610,000 after purchasing an additional 214,571 shares in the last quarter. Wellington Management Group LLP boosted its stake in shares of Leggett & Platt by 3.0% during the fourth quarter. Wellington Management Group LLP now owns 1,190,258 shares of the company’s stock valued at $11,426,000 after purchasing an additional 34,972 shares in the last quarter. Trexquant Investment LP boosted its stake 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 purchasing an additional 554,814 shares in the last quarter. Finally, Invesco Ltd. boosted its stake in shares of Leggett & Platt by 6.5% during the fourth quarter. Invesco Ltd. now owns 803,440 shares of the company’s stock valued at $7,713,000 after purchasing an additional 48,925 shares in the last quarter. Institutional investors own 64.23% of the company’s stock.

Leggett & Platt Price Performance

Leggett & Platt stock opened at $7.27 on Tuesday. The stock’s 50 day moving average is $7.95 and its 200 day moving average is $10.04. The company has a debt-to-equity ratio of 2.70, a current ratio of 2.00 and a quick ratio of 1.14. The firm has a market cap of $979.52 million, a P/E ratio of -1.95 and a beta of 0.98. Leggett & Platt, Incorporated has a one year low of $6.48 and a one year high of $18.39.

Leggett & Platt (NYSE:LEG) last posted its quarterly earnings data on Monday, April 28th. The company reported $0.24 EPS for the quarter, topping analysts’ consensus estimates of $0.23 by $0.01. Leggett & Platt had a positive return on equity of 17.09% and a negative net margin of 11.67%. The company had revenue of $1.02 billion for the quarter, compared to analyst estimates of $1.02 billion. As a group, research analysts expect that Leggett & Platt, Incorporated will post 1.14 EPS for the current year.

Leggett & Platt Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Friday, March 14th were paid a $0.05 dividend. This represents a $0.20 annualized dividend and a yield of 2.75%. The ex-dividend date of this dividend was Friday, March 14th. Leggett & Platt’s dividend payout ratio (DPR) is presently -5.36%.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the company. Truist Financial cut their price target on Leggett & Platt from $13.00 to $11.00 and set a “hold” rating on the stock in a research note on Wednesday, January 29th. The Goldman Sachs Group cut their price target 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. Finally, Piper Sandler reissued a “neutral” rating and set a $9.00 price target (down from $12.00) on shares of Leggett & Platt in a research note on Friday, April 11th.

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.