Bank of New York Mellon Corp decreased its position in shares of Leggett & Platt, Incorporated (NYSE:LEG - Free Report) by 7.9% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 872,141 shares of the company's stock after selling 74,701 shares during the quarter. Bank of New York Mellon Corp owned 0.65% of Leggett & Platt worth $6,899,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also recently modified their holdings of the company. Sterling Capital Management LLC lifted its holdings in shares of Leggett & Platt by 17.1% during the fourth quarter. Sterling Capital Management LLC now owns 7,972 shares of the company's stock worth $77,000 after purchasing an additional 1,163 shares during the period. HighTower Advisors LLC acquired a new position in Leggett & Platt in the fourth quarter valued at approximately $97,000. Coldstream Capital Management Inc. acquired a new position in Leggett & Platt in the fourth quarter valued at approximately $111,000. Captrust Financial Advisors lifted its holdings in Leggett & Platt by 27.5% in the fourth quarter. Captrust Financial Advisors now owns 13,521 shares of the company's stock valued at $130,000 after acquiring an additional 2,915 shares during the period. Finally, Janney Montgomery Scott LLC acquired a new position in Leggett & Platt in the first quarter valued at approximately $107,000. Institutional investors and hedge funds own 64.23% of the company's stock.
Leggett & Platt Price Performance
Shares of Leggett & Platt stock traded up $0.09 on Friday, reaching $10.34. The company's stock had a trading volume of 1,250,682 shares, compared to its average volume of 3,047,172. The company has a market capitalization of $1.40 billion, a P/E ratio of -2.76 and a beta of 0.74. Leggett & Platt, Incorporated has a 52-week low of $6.47 and a 52-week high of $14.23. The stock has a 50-day moving average price of $9.45 and a 200-day moving average price of $9.13. The company has a quick ratio of 1.36, a current ratio of 2.20 and a debt-to-equity ratio of 2.59.
Leggett & Platt (NYSE:LEG - Get Free Report) last posted its quarterly earnings data on Monday, April 28th. The company reported $0.24 EPS for the quarter, beating analysts' consensus estimates 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 positive return on equity of 20.46% and a negative net margin of 11.89%. The business's revenue was down 6.8% compared to the same quarter last year. During the same period in the previous year, the business earned $0.23 earnings per share. Analysts expect that Leggett & Platt, Incorporated will post 1.14 EPS for the current year.
Leggett & Platt Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Tuesday, July 15th. Investors of record on Friday, June 13th were given a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a dividend yield of 1.94%. The ex-dividend date was Friday, June 13th. Leggett & Platt's payout ratio is -5.35%.
Wall Street Analysts Forecast Growth
A number of research analysts have issued reports on LEG shares. The Goldman Sachs Group boosted their price target on Leggett & Platt from $8.00 to $9.00 and gave the company a "neutral" rating in a report on Wednesday, April 30th. Wall Street Zen raised Leggett & Platt from a "hold" rating to a "buy" rating in a report on Saturday, July 5th. Finally, Piper Sandler reissued a "neutral" rating and issued a $9.00 price target (down from $12.00) on shares of Leggett & Platt in a report on Friday, April 11th.
Read Our Latest Report on LEG
About Leggett & Platt
(
Free Report)
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.
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