Geode Capital Management LLC Sells 47,073 Shares of Leggett & Platt, Incorporated (NYSE:LEG)

Geode Capital Management LLC cut its holdings in shares of Leggett & Platt, Incorporated (NYSE:LEG - Free Report) by 2.2% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,109,249 shares of the company's stock after selling 47,073 shares during the period. Geode Capital Management LLC owned about 1.57% of Leggett & Platt worth $20,256,000 at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of the business. Counterpoint Mutual Funds LLC bought a new position in Leggett & Platt in the 4th quarter valued at $666,000. Vanguard Group Inc. boosted its position in Leggett & Platt by 4.9% in the 4th quarter. Vanguard Group Inc. now owns 15,478,476 shares of the company's stock valued at $148,593,000 after buying an additional 722,024 shares during the last quarter. American Century Companies Inc. boosted its position in Leggett & Platt by 50.3% in the 4th quarter. American Century Companies Inc. now owns 138,972 shares of the company's stock valued at $1,334,000 after buying an additional 46,499 shares during the last quarter. Amundi boosted its position in Leggett & Platt by 90.3% in the 4th quarter. Amundi now owns 82,890 shares of the company's stock valued at $814,000 after buying an additional 39,324 shares during the last quarter. Finally, AXQ Capital LP bought a new position in Leggett & Platt in the 4th quarter valued at $771,000. 64.23% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

LEG has been the topic of a number of recent research reports. The Goldman Sachs Group decreased their price objective on Leggett & Platt from $14.00 to $12.00 and set a "neutral" rating on the stock in a research report on Tuesday, January 14th. Truist Financial lowered their price objective on Leggett & Platt from $13.00 to $11.00 and set a "hold" rating on the stock in a research report on Wednesday, January 29th. Finally, Piper Sandler restated 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 Trading Up 0.8 %

NYSE LEG traded up $0.06 during trading hours on Thursday, reaching $7.37. The company's stock had a trading volume of 275,904 shares, compared to its average volume of 2,509,144. The firm has a fifty day simple moving average of $8.12 and a 200-day simple moving average of $10.20. The stock has a market cap of $992.59 million, a P/E ratio of -1.97 and a beta of 0.98. Leggett & Platt, Incorporated has a 52 week low of $6.48 and a 52 week high of $18.39. The company has a debt-to-equity ratio of 2.70, a current ratio of 2.00 and a quick ratio of 1.14.

Leggett & Platt (NYSE:LEG - Get Free Report) last released its quarterly earnings results on Thursday, February 13th. The company reported $0.21 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.21. The firm had revenue of $1.06 billion during the quarter, compared to the consensus estimate of $1.03 billion. Leggett & Platt had a negative net margin of 11.67% and a positive return on equity of 17.09%. Equities analysts forecast that Leggett & Platt, Incorporated will post 1.14 earnings per share for the current fiscal year.

Leggett & Platt Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Stockholders of record on Friday, March 14th were paid a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a dividend yield of 2.71%. The ex-dividend date of this dividend was Friday, March 14th. Leggett & Platt's payout ratio is currently -5.36%.

About Leggett & Platt

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.