Leggett & Platt, Incorporated (NYSE:LEG) Shares Sold by Bank of America Corp DE

Bank of America Corp DE lowered its position in shares of Leggett & Platt, Incorporated (NYSE:LEG - Free Report) by 54.3% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 174,470 shares of the company's stock after selling 207,203 shares during the period. Bank of America Corp DE owned approximately 0.13% of Leggett & Platt worth $1,675,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Schonfeld Strategic Advisors LLC increased its holdings in shares of Leggett & Platt by 273.2% during the 4th quarter. Schonfeld Strategic Advisors LLC now owns 167,706 shares of the company's stock worth $1,610,000 after buying an additional 122,765 shares during the last quarter. AQR Capital Management LLC boosted its position in shares of Leggett & Platt by 12.4% during the 4th quarter. AQR Capital Management LLC now owns 1,632,152 shares of the company's stock worth $15,669,000 after purchasing an additional 179,938 shares during the period. Quarry LP purchased a new position in shares of Leggett & Platt during the 4th quarter worth approximately $213,000. Oxford Asset Management LLP purchased a new position in shares of Leggett & Platt during the 4th quarter worth approximately $165,000. Finally, Boothbay Fund Management LLC purchased a new position in shares of Leggett & Platt during the 4th quarter worth approximately $455,000. Institutional investors and hedge funds own 64.23% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the stock. The Goldman Sachs Group increased their price objective on shares of Leggett & Platt from $8.00 to $9.00 and gave the stock a "neutral" rating in a research report on Wednesday, April 30th. Piper Sandler reissued a "neutral" rating and issued a $9.00 price target (down previously from $12.00) on shares of Leggett & Platt in a research report on Friday, April 11th.

Leggett & Platt Stock Down 0.1%

LEG stock traded down $0.01 during midday trading on Friday, hitting $9.11. The company's stock had a trading volume of 1,122,030 shares, compared to its average volume of 2,390,125. The firm has a market capitalization of $1.23 billion, a P/E ratio of -2.44 and a beta of 0.75. The firm has a 50-day simple moving average of $8.34 and a 200-day simple moving average of $9.42. Leggett & Platt, Incorporated has a 52-week low of $6.48 and a 52-week high of $14.24. The company has a quick ratio of 1.14, a current ratio of 2.00 and a debt-to-equity ratio of 2.70.

Leggett & Platt (NYSE:LEG - Get Free Report) last released its quarterly earnings data on Monday, April 28th. The company reported $0.24 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.23 by $0.01. The business had revenue of $1.02 billion during the quarter, compared to analysts' expectations of $1.02 billion. Leggett & Platt had a negative net margin of 11.67% and a positive return on equity of 17.09%. The company's revenue for the quarter was down 6.8% on a year-over-year basis. During the same period in the previous year, the company earned $0.23 EPS. As a group, equities analysts forecast that Leggett & Platt, Incorporated will post 1.14 EPS for the current year.

Leggett & Platt Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Friday, June 13th will be given a dividend of $0.05 per share. The ex-dividend date is Friday, June 13th. This represents a $0.20 annualized dividend and a dividend yield of 2.20%. Leggett & Platt's dividend payout ratio (DPR) is currently -5.35%.

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.