New York State Teachers Retirement System Reduces Stock Position in Leggett & Platt, Incorporated (NYSE:LEG)

New York State Teachers Retirement System cut its holdings in Leggett & Platt, Incorporated (NYSE:LEG - Free Report) by 21.1% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 132,412 shares of the company's stock after selling 35,500 shares during the period. New York State Teachers Retirement System owned 0.10% of Leggett & Platt worth $1,047,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in LEG. Proficio Capital Partners LLC acquired a new position in Leggett & Platt in the fourth quarter valued at approximately $158,000. Jones Financial Companies Lllp raised its position in Leggett & Platt by 29.3% in the fourth quarter. Jones Financial Companies Lllp now owns 13,529 shares of the company's stock valued at $130,000 after purchasing an additional 3,069 shares during the period. Charles Schwab Investment Management Inc. raised its position in Leggett & Platt by 4.7% in 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 during the period. Raymond James Financial Inc. purchased a new stake in Leggett & Platt in the fourth quarter valued at approximately $575,000. Finally, Amundi raised its position in Leggett & Platt by 90.3% in the fourth quarter. Amundi now owns 82,890 shares of the company's stock valued at $814,000 after purchasing an additional 39,324 shares during the period. 64.23% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages have issued reports on LEG. Piper Sandler reissued a "neutral" rating and issued a $9.00 target price (down previously from $12.00) on shares of Leggett & Platt in a research report on Friday, April 11th. The Goldman Sachs Group boosted their target price on Leggett & Platt from $8.00 to $9.00 and gave the company a "neutral" rating in a research report on Wednesday, April 30th. Finally, Wall Street Zen raised Leggett & Platt from a "hold" rating to a "buy" rating in a research report on Saturday, July 5th.

Leggett & Platt Stock Down 1.8%

Shares of Leggett & Platt stock traded down $0.19 during trading hours on Friday, reaching $10.14. 1,863,322 shares of the company were exchanged, compared to its average volume of 2,200,392. Leggett & Platt, Incorporated has a 1 year low of $6.48 and a 1 year high of $14.24. The stock's fifty day moving average is $9.32 and its 200 day moving average is $9.09. The company has a debt-to-equity ratio of 2.59, a quick ratio of 1.36 and a current ratio of 2.20. The firm has a market cap of $1.37 billion, a PE ratio of -2.71 and a beta of 0.74.

Leggett & Platt (NYSE:LEG - Get Free Report) last posted its quarterly earnings data on Monday, April 28th. The company reported $0.24 earnings per share for the quarter, topping analysts' consensus estimates of $0.23 by $0.01. Leggett & Platt had a positive return on equity of 20.46% and a negative net margin of 11.89%. The business had revenue of $1.02 billion for the quarter, compared to analyst estimates of $1.02 billion. During the same quarter in the prior year, the company earned $0.23 earnings per share. The company's revenue was down 6.8% on a year-over-year basis. As a group, equities research analysts forecast that Leggett & Platt, Incorporated will post 1.14 earnings per share for the current year.

Leggett & Platt Announces Dividend

The business 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. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.97%. The ex-dividend date is Friday, June 13th. Leggett & Platt's dividend payout ratio 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.