Wells Fargo & Company MN Cuts Stake in Leggett & Platt, Incorporated (NYSE:LEG)

Wells Fargo & Company MN lessened its position in Leggett & Platt, Incorporated (NYSE:LEG - Free Report) by 20.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 163,160 shares of the company's stock after selling 41,547 shares during the period. Wells Fargo & Company MN owned 0.12% of Leggett & Platt worth $1,566,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. CIBC Asset Management Inc raised its position in Leggett & Platt by 7.7% during 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 during the last quarter. Swiss National Bank lifted its stake in shares of Leggett & Platt by 0.8% in the fourth quarter. Swiss National Bank now owns 263,900 shares of the company's stock worth $2,533,000 after acquiring an additional 2,100 shares during the period. SRS Capital Advisors Inc. boosted its holdings in Leggett & Platt by 555.8% in the fourth quarter. SRS Capital Advisors Inc. now owns 3,102 shares of the company's stock valued at $30,000 after acquiring an additional 2,629 shares during the last quarter. KBC Group NV increased its position in 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. Finally, Jones Financial Companies Lllp raised its holdings in Leggett & Platt by 29.3% during the 4th quarter. Jones Financial Companies Lllp now owns 13,529 shares of the company's stock worth $130,000 after purchasing an additional 3,069 shares during the last quarter. 64.23% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts recently weighed in on LEG shares. Piper Sandler reissued 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. The Goldman Sachs Group increased their target price on shares of Leggett & Platt from $8.00 to $9.00 and gave the stock a "neutral" rating in a research note on Wednesday. Finally, Truist Financial reduced their price objective 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 3.1 %

Shares of Leggett & Platt stock traded down $0.31 on Friday, hitting $9.42. The company had a trading volume of 447,047 shares, compared to its average volume of 2,526,122. Leggett & Platt, Incorporated has a 1 year low of $6.48 and a 1 year high of $14.30. The company has a debt-to-equity ratio of 2.70, a quick ratio of 1.14 and a current ratio of 2.00. The stock has a 50 day moving average of $7.95 and a 200-day moving average of $10.02. The stock has a market capitalization of $1.27 billion, a price-to-earnings ratio of -2.52 and a beta of 0.98.

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

Leggett & Platt Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Friday, March 14th were given a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a yield of 2.12%. The ex-dividend date of this dividend was Friday, March 14th. Leggett & Platt's payout ratio is -5.35%.

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.