Mariner LLC Decreases Holdings in Leggett & Platt, Incorporated (NYSE:LEG)

Mariner LLC decreased its position in Leggett & Platt, Incorporated (NYSE:LEG - Free Report) by 75.6% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 37,775 shares of the company's stock after selling 117,322 shares during the period. Mariner LLC's holdings in Leggett & Platt were worth $363,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. CIBC Asset Management Inc raised its holdings in shares of Leggett & Platt by 7.7% in the 4th quarter. CIBC Asset Management Inc now owns 13,986 shares of the company's stock worth $134,000 after purchasing an additional 1,001 shares in the last quarter. Sterling Capital Management LLC increased its position in Leggett & Platt by 17.1% during 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 period. Swiss National Bank grew its holdings in shares of Leggett & Platt by 0.8% during the 4th quarter. Swiss National Bank now owns 263,900 shares of the company's stock worth $2,533,000 after purchasing an additional 2,100 shares in the last quarter. SRS Capital Advisors Inc. increased its holdings in 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 buying an additional 2,629 shares during the period. Finally, KBC Group NV grew its stake 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 during the period. Institutional investors own 64.23% of the company's stock.

Leggett & Platt Price Performance

LEG stock traded up $0.14 during mid-day trading on Friday, hitting $9.42. The stock had a trading volume of 415,644 shares, compared to its average volume of 2,514,573. The firm has a fifty day simple moving average of $7.95 and a 200 day simple moving average of $9.88. 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. The firm has a market capitalization of $1.27 billion, a P/E ratio of -2.53 and a beta of 0.75.

Leggett & Platt (NYSE:LEG - Get Free Report) last announced its quarterly earnings results 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 during 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 company's revenue for the quarter was down 6.8% compared to the same quarter last year. During the same period in the prior year, the business earned $0.23 earnings per share. As a group, research analysts forecast that Leggett & Platt, Incorporated will post 1.14 EPS for the current year.

Leggett & Platt Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Friday, June 13th will be issued 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 2.12%. Leggett & Platt's dividend payout ratio is -5.35%.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on LEG. Piper Sandler restated 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. The Goldman Sachs Group increased their price objective on Leggett & Platt from $8.00 to $9.00 and gave the company a "neutral" rating in a report on Wednesday, April 30th. Finally, Truist Financial cut 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.

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.