Wealth Enhancement Advisory Services LLC Sells 29,876 Shares of Leggett & Platt, Incorporated (NYSE:LEG)

Wealth Enhancement Advisory Services LLC lowered its position in Leggett & Platt, Incorporated (NYSE:LEG - Free Report) by 35.5% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 54,227 shares of the company's stock after selling 29,876 shares during the period. Wealth Enhancement Advisory Services LLC's holdings in Leggett & Platt were worth $429,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of LEG. SBI Securities Co. Ltd. bought a new position in Leggett & Platt in the 4th quarter worth approximately $50,000. Sterling Capital Management LLC raised its position in shares of Leggett & Platt by 17.1% during the 4th quarter. Sterling Capital Management LLC now owns 7,972 shares of the company's stock valued at $77,000 after acquiring an additional 1,163 shares during the last quarter. HighTower Advisors LLC bought a new stake in shares of Leggett & Platt during the 4th quarter valued at $97,000. Coldstream Capital Management Inc. bought a new stake in shares of Leggett & Platt during the 4th quarter valued at $111,000. Finally, Jones Financial Companies Lllp raised its position in shares of Leggett & Platt by 29.3% during the 4th quarter. Jones Financial Companies Lllp now owns 13,529 shares of the company's stock valued at $130,000 after acquiring an additional 3,069 shares during the last quarter. Institutional investors own 64.23% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have commented on LEG. Piper Sandler reiterated a "neutral" rating and set a $9.00 target price (down previously from $12.00) on shares of Leggett & Platt in a research report on Friday, April 11th. Wall Street Zen raised shares of Leggett & Platt from a "hold" rating to a "buy" rating in a report on Saturday, July 5th. Finally, The Goldman Sachs Group boosted their price target 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.

Leggett & Platt Trading Up 2.5%

Shares of LEG stock traded up $0.26 on Thursday, hitting $10.34. The stock had a trading volume of 2,825,057 shares, compared to its average volume of 2,202,842. Leggett & Platt, Incorporated has a twelve month low of $6.48 and a twelve month high of $14.24. The firm has a market cap of $1.40 billion, a P/E ratio of -2.76 and a beta of 0.74. The company has a current ratio of 2.20, a quick ratio of 1.36 and a debt-to-equity ratio of 2.59. The company has a fifty day moving average price of $9.30 and a two-hundred day moving average price of $9.09.

Leggett & Platt (NYSE:LEG - Get Free Report) last announced its earnings results 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. The firm had revenue of $1.02 billion during the quarter, compared to analyst estimates of $1.02 billion. Leggett & Platt had a negative net margin of 11.89% and a positive return on equity of 20.46%. The company's revenue for the quarter was down 6.8% compared to the same quarter last year. During the same period in the prior year, the business earned $0.23 EPS. As a group, analysts forecast that Leggett & Platt, Incorporated will post 1.14 earnings per share for the current fiscal year.

Leggett & Platt Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Friday, June 13th will be paid a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a yield of 1.94%. The ex-dividend date is Friday, June 13th. Leggett & Platt's payout ratio 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.