Leggett & Platt (NYSE:LEG) Stock Price Down 4.9% - What's Next?

Leggett & Platt, Incorporated (NYSE:LEG - Get Free Report)'s stock price dropped 4.9% during mid-day trading on Monday . The stock traded as low as $8.64 and last traded at $8.62. Approximately 512,002 shares were traded during mid-day trading, a decline of 79% from the average daily volume of 2,402,131 shares. The stock had previously closed at $9.06.

Analyst Upgrades and Downgrades

LEG has been the topic of several research analyst reports. The Goldman Sachs Group upped their price objective on Leggett & Platt from $8.00 to $9.00 and gave the company a "neutral" rating in a research note on Wednesday, April 30th. Piper Sandler reiterated a "neutral" rating and set a $9.00 target price (down previously from $12.00) on shares of Leggett & Platt in a research note on Friday, April 11th.

Leggett & Platt Stock Up 1.1%

The firm has a market cap of $1.24 billion, a price-to-earnings ratio of -2.46 and a beta of 0.75. 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 50-day moving average of $8.29 and a 200-day moving average of $9.48.

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

Leggett & Platt Announces Dividend

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 dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a yield of 2.18%. The ex-dividend date of this dividend is Friday, June 13th. Leggett & Platt's dividend payout ratio is currently -5.35%.

Institutional Investors Weigh In On Leggett & Platt

Large investors have recently modified their holdings of the business. SRS Capital Advisors Inc. boosted its holdings in shares of Leggett & Platt by 555.8% in the 4th 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. acquired a new stake in shares of Leggett & Platt in the 4th quarter valued at $50,000. KBC Group NV boosted its holdings in shares of Leggett & Platt by 74.5% in 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. Sterling Capital Management LLC boosted its holdings in shares of Leggett & Platt by 17.1% in the 4th quarter. Sterling Capital Management LLC now owns 7,972 shares of the company's stock valued at $77,000 after purchasing an additional 1,163 shares in the last quarter. Finally, Blue Trust Inc. boosted its holdings in shares of Leggett & Platt by 461.6% in 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. 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.