Leggett & Platt (NYSE:LEG) Stock Price Down 3.2% - Here's What Happened

Leggett & Platt, Incorporated (NYSE:LEG - Get Free Report) dropped 3.2% on Friday . The stock traded as low as $9.41 and last traded at $9.41. Approximately 447,047 shares changed hands during trading, a decline of 83% from the average daily volume of 2,656,899 shares. The stock had previously closed at $9.72.

Analysts Set New Price Targets

Several research firms have recently issued reports on LEG. The Goldman Sachs Group lifted their price target on Leggett & Platt from $8.00 to $9.00 and gave the stock a "neutral" rating in a research note on Wednesday, April 30th. Piper Sandler reissued a "neutral" rating and issued a $9.00 target price (down from $12.00) on shares of Leggett & Platt in a research note on Friday, April 11th. Finally, Truist Financial dropped their target price on shares of Leggett & Platt from $13.00 to $11.00 and set a "hold" rating for the company in a research report on Wednesday, January 29th.

Leggett & Platt Stock Up 1.3 %

The company has a current ratio of 2.00, a quick ratio of 1.14 and a debt-to-equity ratio of 2.70. The stock has a market cap of $1.24 billion, a PE ratio of -2.47 and a beta of 0.75. The business has a 50 day moving average of $7.94 and a 200-day moving average of $9.90.

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

Leggett & Platt Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Friday, June 13th will be given a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a dividend yield of 2.17%. Leggett & Platt's payout ratio is currently -5.35%.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. SRS Capital Advisors Inc. raised its position in Leggett & Platt by 555.8% during the fourth quarter. SRS Capital Advisors Inc. now owns 3,102 shares of the company's stock valued at $30,000 after purchasing an additional 2,629 shares in the last quarter. SBI Securities Co. Ltd. purchased a new position in shares of Leggett & Platt during the 4th quarter worth $50,000. KBC Group NV raised its position 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 during the period. Sterling Capital Management LLC grew its stake in Leggett & Platt by 17.1% during the fourth 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 in the last quarter. Finally, Blue Trust Inc. boosted its position 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 acquiring an additional 7,963 shares during the last quarter. Institutional investors and hedge funds own 64.23% of the company's stock.

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.