Leggett & Platt, Incorporated (NYSE:LEG) Shares Sold by JPMorgan Chase & Co.

JPMorgan Chase & Co. cut its holdings in shares of Leggett & Platt, Incorporated (NYSE:LEG - Free Report) by 69.0% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 180,354 shares of the company's stock after selling 401,311 shares during the quarter. JPMorgan Chase & Co. owned 0.13% of Leggett & Platt worth $1,731,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. SRS Capital Advisors Inc. raised its position in Leggett & Platt by 555.8% during the 4th quarter. SRS Capital Advisors Inc. now owns 3,102 shares of the company's stock worth $30,000 after buying an additional 2,629 shares during the last quarter. SBI Securities Co. Ltd. purchased a new position in shares of Leggett & Platt during the 4th quarter valued at approximately $50,000. KBC Group NV increased 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 in the last quarter. Blue Trust Inc. increased 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 in the last quarter. Finally, HighTower Advisors LLC purchased a new position in shares of Leggett & Platt during the 4th quarter valued at approximately $97,000. 64.23% of the stock is owned by hedge funds and other institutional investors.

Leggett & Platt Stock Performance

Shares of NYSE:LEG traded up $0.06 on Wednesday, reaching $9.63. The company's stock had a trading volume of 6,817,847 shares, compared to its average volume of 2,581,946. The stock's 50-day moving average is $7.95 and its two-hundred day moving average is $10.04. Leggett & Platt, Incorporated has a 52-week low of $6.48 and a 52-week high of $14.30. 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 stock has a market capitalization of $1.30 billion, a P/E ratio of -2.58 and a beta of 0.98.

Leggett & Platt (NYSE:LEG - Get Free Report) last announced its earnings results on Monday, April 28th. The company reported $0.24 EPS for the quarter, beating analysts' consensus estimates of $0.23 by $0.01. Leggett & Platt had a negative net margin of 11.67% and a positive return on equity of 17.09%. The business had revenue of $1.02 billion during the quarter, compared to analysts' expectations of $1.02 billion. During the same period in the prior year, the company earned $0.23 earnings per share. The business's revenue was down 6.8% compared to the same quarter last year. As a group, sell-side analysts forecast that Leggett & Platt, Incorporated will post 1.14 EPS for the current year.

Leggett & Platt Announces Dividend

The company 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. The ex-dividend date of this dividend was Friday, March 14th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 2.08%. Leggett & Platt's dividend payout ratio (DPR) is -5.36%.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on LEG shares. Piper Sandler reaffirmed a "neutral" rating and set a $9.00 target price (down from $12.00) on shares of Leggett & Platt in a report on Friday, April 11th. Truist Financial cut their target price on shares of Leggett & Platt from $13.00 to $11.00 and set a "hold" rating for the company in a report on Wednesday, January 29th. Finally, The Goldman Sachs Group lifted 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.

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.