Millennium Management LLC Sells 283,938 Shares of Leggett & Platt, Incorporated (NYSE:LEG)

Millennium Management LLC lowered its stake in shares of Leggett & Platt, Incorporated (NYSE:LEG - Free Report) by 35.3% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 520,550 shares of the company's stock after selling 283,938 shares during the quarter. Millennium Management LLC owned 0.39% of Leggett & Platt worth $4,997,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in the stock. SG Americas Securities LLC grew its holdings in shares of Leggett & Platt by 29.5% during the 4th quarter. SG Americas Securities LLC now owns 47,979 shares of the company's stock valued at $461,000 after purchasing an additional 10,936 shares during the last quarter. Blue Trust Inc. grew its holdings in shares of Leggett & Platt by 461.6% during the 4th quarter. Blue Trust Inc. now owns 9,688 shares of the company's stock valued at $93,000 after purchasing an additional 7,963 shares during the last quarter. KBC Group NV grew its holdings in shares of Leggett & Platt by 74.5% during the 4th quarter. KBC Group NV now owns 7,028 shares of the company's stock valued at $67,000 after purchasing an additional 3,000 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of Leggett & Platt by 18.8% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 97,107 shares of the company's stock valued at $928,000 after purchasing an additional 15,377 shares during the last quarter. Finally, Empowered Funds LLC bought a new position in shares of Leggett & Platt during the 4th quarter valued at $123,000. Hedge funds and other institutional investors own 64.23% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms recently commented on LEG. The Goldman Sachs Group increased their target price on shares of Leggett & Platt from $8.00 to $9.00 and gave the company a "neutral" rating in a report on Wednesday, April 30th. Piper Sandler reaffirmed a "neutral" rating and set a $9.00 target price (down previously from $12.00) on shares of Leggett & Platt in a report on Friday, April 11th.

Leggett & Platt Trading Down 3.6%

Leggett & Platt stock traded down $0.33 during trading hours on Monday, reaching $8.73. The stock had a trading volume of 2,013,413 shares, compared to its average volume of 2,407,818. The stock has a market cap of $1.18 billion, a PE ratio of -2.34 and a beta of 0.75. Leggett & Platt, Incorporated has a 52 week low of $6.48 and a 52 week high of $14.24. 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 company has a fifty day simple moving average of $8.25 and a 200-day simple moving average of $9.49.

Leggett & Platt (NYSE:LEG - Get Free Report) last announced its quarterly earnings results on Monday, April 28th. The company reported $0.24 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.23 by $0.01. The business had revenue of $1.02 billion for the quarter, compared to analyst estimates 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 was down 6.8% on a year-over-year basis. During the same quarter last year, the firm earned $0.23 EPS. Analysts forecast that Leggett & Platt, Incorporated will post 1.14 EPS for the current fiscal year.

Leggett & Platt Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Friday, June 13th will be issued a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a yield of 2.29%. The ex-dividend date is Friday, June 13th. Leggett & Platt's dividend payout ratio (DPR) is presently -5.35%.

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.