Leggett & Platt, Incorporated (NYSE:LEG) Short Interest Up 27.6% in February

Leggett & Platt, Incorporated (NYSE:LEG) was the target of a large increase in short interest in February. As of February 28th, there was short interest totalling 7,760,000 shares, an increase of 27.6% from the February 13th total of 6,080,000 shares. Based on an average trading volume of 2,060,000 shares, the days-to-cover ratio is presently 3.8 days. Currently, 5.9% of the company’s stock are short sold.

Leggett & Platt Stock Up 0.3 %

Shares of NYSE LEG opened at $8.10 on Wednesday. The stock has a market cap of $1.09 billion, a PE ratio of -2.17 and a beta of 1.11. The company has a quick ratio of 1.14, a current ratio of 2.00 and a debt-to-equity ratio of 2.70. Leggett & Platt has a 52-week low of $7.92 and a 52-week high of $19.33. The business has a 50-day moving average price of $9.75 and a 200 day moving average price of $11.20.

Leggett & Platt (NYSE:LEG) last posted its quarterly earnings data on Thursday, February 13th. The company reported $0.21 EPS for the quarter, meeting the consensus estimate of $0.21. The firm 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%. Equities research analysts forecast that Leggett & Platt will post 1.14 earnings per share for the current year.

Leggett & Platt Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Friday, March 14th will be paid a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a yield of 2.47%. The ex-dividend date is Friday, March 14th. Leggett & Platt’s dividend payout ratio is presently -5.36%.

Institutional Trading of Leggett & Platt

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Wealth Enhancement Advisory Services LLC raised its stake in Leggett & Platt by 114.4% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 84,103 shares of the company’s stock valued at $807,000 after acquiring an additional 44,876 shares during the last quarter. PharVision Advisers LLC purchased a new stake in Leggett & Platt during the 4th quarter valued at approximately $467,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in Leggett & Platt by 13.3% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 440,909 shares of the company’s stock valued at $4,233,000 after acquiring an additional 51,841 shares during the last quarter. Squarepoint Ops LLC raised its stake in Leggett & Platt by 49.6% during the 4th quarter. Squarepoint Ops LLC now owns 345,589 shares of the company’s stock valued at $3,318,000 after acquiring an additional 114,536 shares during the last quarter. Finally, Two Sigma Advisers LP raised its stake in Leggett & Platt by 82.1% during the 4th quarter. Two Sigma Advisers LP now owns 630,100 shares of the company’s stock valued at $6,049,000 after acquiring an additional 284,100 shares during the last quarter. 64.23% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the company. Truist Financial lowered their price objective on Leggett & Platt from $13.00 to $11.00 and set a “hold” rating for the company in a research 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 for the company in a research report on Tuesday, January 14th.

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.