Leggett & Platt (NYSE:LEG) Reaches New 12-Month Low - What's Next?

Leggett & Platt, Incorporated (NYSE:LEG - Get Free Report)'s share price reached a new 52-week low during mid-day trading on Wednesday . The stock traded as low as $6.49 and last traded at $6.50, with a volume of 815890 shares. The stock had previously closed at $6.67.

Wall Street Analyst Weigh In

A number of analysts have commented on LEG shares. Truist Financial reduced their price objective on shares of Leggett & Platt from $13.00 to $11.00 and set a "hold" rating for the company in a research note on Wednesday, January 29th. Piper Sandler reiterated a "neutral" rating and set a $9.00 price target (down from $12.00) on shares of Leggett & Platt in a report on Friday, April 11th. Finally, The Goldman Sachs Group cut their target price on Leggett & Platt from $14.00 to $12.00 and set a "neutral" rating for the company in a research report on Tuesday, January 14th.

Leggett & Platt Trading Up 0.4 %

The firm has a fifty day moving average price of $8.24 and a 200-day moving average price of $10.24. The company has a market capitalization of $929.66 million, a price-to-earnings ratio of -1.85 and a beta of 0.98. The company has a debt-to-equity ratio of 2.70, a quick ratio of 1.14 and a current ratio of 2.00.

Leggett & Platt (NYSE:LEG - Get Free Report) last announced its earnings results on Thursday, February 13th. The company reported $0.21 EPS for the quarter, hitting the consensus estimate of $0.21. The firm had revenue of $1.06 billion for the quarter, compared to the consensus estimate of $1.03 billion. Leggett & Platt had a positive return on equity of 17.09% and a negative net margin of 11.67%. As a group, equities analysts anticipate 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. Shareholders of record on Friday, March 14th were given 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 yield of 2.90%. Leggett & Platt's payout ratio is -5.36%.

Institutional Investors Weigh In On Leggett & Platt

A number of large investors have recently made changes to their positions in the business. SRS Capital Advisors Inc. boosted its stake in Leggett & Platt by 555.8% during the fourth quarter. SRS Capital Advisors Inc. now owns 3,102 shares of the company's stock worth $30,000 after acquiring an additional 2,629 shares in the last quarter. SBI Securities Co. Ltd. bought a new position in Leggett & Platt during the 4th quarter valued at approximately $50,000. KBC Group NV raised its stake in Leggett & Platt by 74.5% during the fourth quarter. KBC Group NV now owns 7,028 shares of the company's stock valued at $67,000 after buying an additional 3,000 shares during the last quarter. Sterling Capital Management LLC grew its stake in shares of Leggett & Platt by 17.1% in the fourth quarter. Sterling Capital Management LLC now owns 7,972 shares of the company's stock worth $77,000 after acquiring an additional 1,163 shares during the last quarter. Finally, Blue Trust Inc. increased its holdings in shares of Leggett & Platt by 461.6% during the fourth quarter. Blue Trust Inc. now owns 9,688 shares of the company's stock valued at $93,000 after acquiring an additional 7,963 shares in the last quarter. 64.23% of the stock is currently owned by institutional investors.

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.