Leggett & Platt, Incorporated (NYSE:LEG) Shares Sold by Arbor Wealth Advisors LLC

Arbor Wealth Advisors LLC reduced its position in Leggett & Platt, Incorporated (NYSE:LEG) by 2.7% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 59,703 shares of the company’s stock after selling 1,685 shares during the quarter. Leggett & Platt comprises approximately 0.5% of Arbor Wealth Advisors LLC’s portfolio, making the stock its 27th biggest position. Arbor Wealth Advisors LLC’s holdings in Leggett & Platt were worth $573,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Arizona State Retirement System raised its position in Leggett & Platt by 2.2% in the second quarter. Arizona State Retirement System now owns 37,438 shares of the company’s stock worth $429,000 after acquiring an additional 799 shares in the last quarter. Allspring Global Investments Holdings LLC grew its holdings in Leggett & Platt by 76.3% in the third quarter. Allspring Global Investments Holdings LLC now owns 2,043 shares of the company’s stock valued at $28,000 after purchasing an additional 884 shares during the last quarter. Applied Capital LLC FL increased its position in shares of Leggett & Platt by 5.4% in the third quarter. Applied Capital LLC FL now owns 25,987 shares of the company’s stock valued at $354,000 after buying an additional 1,327 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Leggett & Platt in the third quarter valued at $29,000. Finally, Bleakley Financial Group LLC raised its stake in shares of Leggett & Platt by 8.1% during the 3rd quarter. Bleakley Financial Group LLC now owns 33,352 shares of the company’s stock worth $454,000 after buying an additional 2,501 shares during the last quarter. 64.23% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Separately, Piper Sandler raised shares of Leggett & Platt from an “underweight” rating to a “neutral” rating and upped their price target for the company from $11.00 to $13.00 in a report on Wednesday, October 30th. Four equities research analysts have rated the stock with a hold rating, According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $12.67.

Leggett & Platt Stock Performance

Shares of NYSE:LEG opened at $10.17 on Tuesday. The firm has a market capitalization of $1.37 billion, a PE ratio of -1.69 and a beta of 1.11. Leggett & Platt, Incorporated has a 12 month low of $9.18 and a 12 month high of $25.29. The company has a debt-to-equity ratio of 2.13, a current ratio of 1.48 and a quick ratio of 0.84. The business has a 50-day moving average of $11.15 and a two-hundred day moving average of $12.05.

Leggett & Platt (NYSE:LEG) last released its quarterly earnings results on Monday, October 28th. The company reported $0.32 earnings per share for the quarter, missing analysts’ consensus estimates of $0.33 by ($0.01). The firm had revenue of $1.10 billion for the quarter, compared to analyst estimates of $1.10 billion. Leggett & Platt had a negative net margin of 18.53% and a positive return on equity of 14.99%. Leggett & Platt’s revenue for the quarter was down 6.3% on a year-over-year basis. During the same period in the previous year, the business posted $0.36 earnings per share. As a group, research analysts forecast that Leggett & Platt, Incorporated will post 1.05 earnings per share for the current year.

Leggett & Platt Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Friday, December 13th will be given a dividend of $0.05 per share. The ex-dividend date of this dividend is Friday, December 13th. This represents a $0.20 annualized dividend and a dividend yield of 1.97%. Leggett & Platt’s payout ratio is -3.33%.

Leggett & Platt Company Profile

Leggett & Platt, Incorporated designs, manufactures, and sells engineered components and products in the United States, Europe, China, Canada, Mexico, and internationally. It operates through three segments: Bedding Products; Specialized Products; and Furniture, Flooring & Textile Products. The company offers steel rods, drawn wires, specialty foam chemicals and additives, innersprings, specialty foam for use in bedding and furniture, private label finished mattresses, ready-to-assemble mattress foundations, static foundations, and adjustable beds, as well as machines for producing innersprings; industrial sewing and quilting machines; mattress-packaging; and glue-drying equipment for various industrial users of steel rod and wire, manufacturers of finished bedding, bedding brands and mattress retailers, E-commerce retailers, big box retailers, department stores, and home improvement centers.