Leggett & Platt, Incorporated (NYSE:LEG) Shares Sold by LPL Financial LLC

LPL Financial LLC decreased its position in shares of Leggett & Platt, Incorporated (NYSE:LEG - Free Report) by 41.1% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 94,833 shares of the company's stock after selling 66,307 shares during the period. LPL Financial LLC owned approximately 0.07% of Leggett & Platt worth $910,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. SRS Capital Advisors Inc. raised its position in Leggett & Platt by 555.8% in the 4th quarter. SRS Capital Advisors Inc. now owns 3,102 shares of the company's stock worth $30,000 after purchasing an additional 2,629 shares during the period. SBI Securities Co. Ltd. bought a new position in shares of Leggett & Platt during the fourth quarter valued at approximately $50,000. KBC Group NV raised its holdings in shares of Leggett & Platt by 74.5% in the fourth quarter. KBC Group NV now owns 7,028 shares of the company's stock worth $67,000 after buying an additional 3,000 shares during the period. Blue Trust Inc. lifted its stake 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 worth $93,000 after acquiring an additional 7,963 shares during the last quarter. Finally, HighTower Advisors LLC purchased a new position in Leggett & Platt during the 4th quarter valued at $97,000. Hedge funds and other institutional investors own 64.23% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on LEG. The Goldman Sachs Group reduced their target price on Leggett & Platt from $14.00 to $12.00 and set a "neutral" rating on the stock in a research note on Tuesday, January 14th. Piper Sandler reaffirmed a "neutral" rating and issued a $9.00 price target (down previously from $12.00) on shares of Leggett & Platt in a research note on Friday, April 11th. Finally, Truist Financial lowered 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 report on Wednesday, January 29th.

Leggett & Platt Stock Down 1.8 %

Shares of LEG stock traded down $0.14 during mid-day trading on Friday, hitting $7.29. The stock had a trading volume of 281,717 shares, compared to its average volume of 2,509,900. Leggett & Platt, Incorporated has a 12-month low of $6.48 and a 12-month high of $18.39. 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 firm's 50-day moving average is $8.06 and its two-hundred day moving average is $10.16. The firm has a market capitalization of $981.54 million, a P/E ratio of -1.95 and a beta of 0.98.

Leggett & Platt (NYSE:LEG - Get Free Report) last released its quarterly earnings data on Thursday, February 13th. The company reported $0.21 earnings per share for the quarter, hitting analysts' consensus estimates of $0.21. The company had revenue of $1.06 billion during the quarter, compared to analyst estimates of $1.03 billion. Leggett & Platt had a negative net margin of 11.67% and a positive return on equity of 17.09%. On average, analysts predict that Leggett & Platt, Incorporated will post 1.14 earnings per share for the current fiscal year.

Leggett & Platt Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Friday, March 14th were issued a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a yield of 2.75%. The ex-dividend date was Friday, March 14th. Leggett & Platt's payout ratio is -5.36%.

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.