Northern Trust Corp Sells 122,849 Shares of Leggett & Platt, Incorporated (NYSE:LEG)

Northern Trust Corp decreased its holdings in shares of Leggett & Platt, Incorporated (NYSE:LEG - Free Report) by 7.5% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,506,027 shares of the company's stock after selling 122,849 shares during the period. Northern Trust Corp owned 1.12% of Leggett & Platt worth $14,458,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. SRS Capital Advisors Inc. raised its stake in shares of Leggett & Platt by 555.8% in the fourth 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 last quarter. SBI Securities Co. Ltd. purchased a new stake in shares of Leggett & Platt in the fourth quarter worth approximately $50,000. KBC Group NV grew 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 valued at $67,000 after acquiring an additional 3,000 shares in the last quarter. Sterling Capital Management LLC grew its holdings 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 valued at $77,000 after acquiring 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 fourth 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 period. 64.23% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

LEG has been the subject of several research analyst reports. Piper Sandler reaffirmed a "neutral" rating and set a $9.00 price target (down previously from $12.00) on shares of Leggett & Platt in a research note on Friday, April 11th. 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. Finally, Truist Financial dropped their price target on Leggett & Platt from $13.00 to $11.00 and set a "hold" rating for the company in a research note on Wednesday, January 29th.

Leggett & Platt Stock Down 3.4%

Shares of LEG stock traded down $0.32 during midday trading on Monday, reaching $9.23. 1,651,795 shares of the stock were exchanged, compared to its average volume of 2,494,624. Leggett & Platt, Incorporated has a 1 year low of $6.48 and a 1 year high of $14.24. The company's 50 day moving average is $8.08 and its two-hundred day moving average is $9.73. 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 firm has a market cap of $1.25 billion, a PE ratio of -2.47 and a beta of 0.75.

Leggett & Platt (NYSE:LEG - Get Free Report) last posted its quarterly 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 company 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 EPS. On average, equities research analysts predict 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 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 of this dividend is Friday, June 13th. This represents a $0.20 annualized dividend and a dividend yield of 2.17%. Leggett & Platt's payout ratio is -5.35%.

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.