Leggett & Platt (NYSE:LEG) Sets New 1-Year Low – Here’s What Happened

Shares of Leggett & Platt, Incorporated (NYSE:LEG) reached a new 52-week low on Tuesday . The company traded as low as $8.25 and last traded at $8.27, with a volume of 2848111 shares. The stock had previously closed at $8.62.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on LEG shares. Truist Financial decreased their target price on Leggett & Platt from $13.00 to $11.00 and set a “hold” rating on the stock in a report on Wednesday, January 29th. The Goldman Sachs Group decreased their target price on Leggett & Platt from $14.00 to $12.00 and set a “neutral” rating on the stock in a report on Tuesday, January 14th.

Leggett & Platt Price Performance

The company has a 50 day moving average of $9.90 and a 200-day moving average of $11.37. The firm has a market capitalization of $1.10 billion, a P/E ratio of -2.18 and a beta of 1.11. 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 (NYSE:LEG) last released its quarterly earnings results on Thursday, February 13th. The company reported $0.21 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.21. The business had revenue of $1.06 billion during the quarter, compared to the consensus estimate of $1.03 billion. Leggett & Platt had a positive return on equity of 17.09% and a negative net margin of 11.67%. On average, sell-side analysts predict that Leggett & Platt, Incorporated will post 1.14 EPS for the current year.

Leggett & Platt Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Friday, March 14th will be given a dividend of $0.05 per share. The ex-dividend date of this dividend is Friday, March 14th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 2.46%. Leggett & Platt’s payout ratio is -5.36%.

Institutional Trading of Leggett & Platt

A number of institutional investors have recently modified their holdings of LEG. Wellington Management Group LLP bought a new stake in shares of Leggett & Platt during the 3rd quarter valued at $15,735,000. Invenomic Capital Management LP lifted its position in shares of Leggett & Platt by 384.1% during the 3rd quarter. Invenomic Capital Management LP now owns 921,472 shares of the company’s stock valued at $12,550,000 after acquiring an additional 731,132 shares during the period. Vanguard Group Inc. lifted its position in shares of Leggett & Platt by 4.9% during the 4th quarter. Vanguard Group Inc. now owns 15,478,476 shares of the company’s stock valued at $148,593,000 after acquiring an additional 722,024 shares during the period. FMR LLC lifted its position in shares of Leggett & Platt by 3,264.5% during the 3rd quarter. FMR LLC now owns 692,884 shares of the company’s stock valued at $9,437,000 after acquiring an additional 672,290 shares during the period. Finally, Marshall Wace LLP bought a new stake in shares of Leggett & Platt during the 4th quarter valued at $5,858,000. 64.23% of the stock is currently owned by institutional investors.

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.