Leggett & Platt, Incorporated (NYSE:LEG) Shares Sold by First Trust Advisors LP

First Trust Advisors LP decreased its position in Leggett & Platt, Incorporated (NYSE:LEG - Free Report) by 90.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 20,448 shares of the company's stock after selling 195,422 shares during the quarter. First Trust Advisors LP's holdings in Leggett & Platt were worth $196,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its position in Leggett & Platt by 4.9% in the fourth quarter. Vanguard Group Inc. now owns 15,478,476 shares of the company's stock valued at $148,593,000 after purchasing an additional 722,024 shares during the period. Charles Schwab Investment Management Inc. increased its position in shares of Leggett & Platt by 4.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 4,751,066 shares of the company's stock worth $45,610,000 after acquiring an additional 214,571 shares during the period. Wellington Management Group LLP increased its position in shares of Leggett & Platt by 3.0% during the fourth quarter. Wellington Management Group LLP now owns 1,190,258 shares of the company's stock worth $11,426,000 after acquiring an additional 34,972 shares during the period. Trexquant Investment LP increased its position in shares of Leggett & Platt by 89.0% during the fourth quarter. Trexquant Investment LP now owns 1,177,891 shares of the company's stock worth $11,308,000 after acquiring an additional 554,814 shares during the period. Finally, Invesco Ltd. increased its position in shares of Leggett & Platt by 6.5% during the fourth quarter. Invesco Ltd. now owns 803,440 shares of the company's stock worth $7,713,000 after acquiring an additional 48,925 shares during the period. Hedge funds and other institutional investors own 64.23% of the company's stock.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the company. Truist Financial cut 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. The Goldman Sachs Group upped their price objective on Leggett & Platt from $8.00 to $9.00 and gave the stock a "neutral" rating in a research report on Wednesday, April 30th. Finally, 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 report on Friday, April 11th.

Leggett & Platt Stock Up 0.4%

NYSE:LEG traded up $0.04 during trading hours on Thursday, hitting $9.51. The company's stock had a trading volume of 545,041 shares, compared to its average volume of 2,508,179. The stock has a market capitalization of $1.29 billion, a P/E ratio of -2.55 and a beta of 0.75. The stock has a fifty day moving average of $8.02 and a 200-day moving average of $9.80. The company has a current ratio of 2.00, a quick ratio of 1.14 and a debt-to-equity ratio of 2.70. Leggett & Platt, Incorporated has a 52-week low of $6.48 and a 52-week high of $14.24.

Leggett & Platt (NYSE:LEG - Get Free Report) last issued its quarterly earnings data on Monday, April 28th. The company reported $0.24 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.23 by $0.01. The company had revenue of $1.02 billion for the quarter, compared to analyst estimates of $1.02 billion. Leggett & Platt had a positive return on equity of 17.09% and a negative net margin of 11.67%. The business's quarterly revenue was down 6.8% compared to the same quarter last year. During the same quarter last year, the company posted $0.23 earnings per share. On average, equities analysts forecast that Leggett & Platt, Incorporated will post 1.14 earnings per share for the current year.

Leggett & Platt Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Friday, June 13th will be paid a dividend of $0.05 per share. The ex-dividend date is Friday, June 13th. This represents a $0.20 annualized dividend and a dividend yield of 2.10%. Leggett & Platt's dividend payout ratio (DPR) is -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.