Mutual of America Capital Management LLC Has $4.23 Million Position in Leggett & Platt, Incorporated (NYSE:LEG)

Mutual of America Capital Management LLC lowered its stake in Leggett & Platt, Incorporated (NYSE:LEGGet Rating) by 14.0% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 121,628 shares of the company’s stock after selling 19,758 shares during the period. Mutual of America Capital Management LLC’s holdings in Leggett & Platt were worth $4,233,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of LEG. Kestra Advisory Services LLC grew its holdings in Leggett & Platt by 21.0% during the 4th quarter. Kestra Advisory Services LLC now owns 8,826 shares of the company’s stock worth $363,000 after acquiring an additional 1,532 shares during the period. Strs Ohio grew its holdings in Leggett & Platt by 14.6% during the 4th quarter. Strs Ohio now owns 25,583 shares of the company’s stock worth $1,052,000 after acquiring an additional 3,262 shares during the period. National Bank of Canada FI acquired a new stake in Leggett & Platt during the 4th quarter worth $753,000. New York State Teachers Retirement System grew its holdings in Leggett & Platt by 8.4% during the 4th quarter. New York State Teachers Retirement System now owns 169,269 shares of the company’s stock worth $6,967,000 after acquiring an additional 13,172 shares during the period. Finally, Regentatlantic Capital LLC acquired a new stake in Leggett & Platt during the 4th quarter worth $275,000. Institutional investors and hedge funds own 72.99% of the company’s stock.

Leggett & Platt Trading Down 0.6 %

Shares of NYSE LEG opened at $38.71 on Tuesday. The stock has a market cap of $5.17 billion, a price-to-earnings ratio of 13.08 and a beta of 1.28. Leggett & Platt, Incorporated has a twelve month low of $33.19 and a twelve month high of $49.94. The company’s fifty day moving average is $36.86 and its 200-day moving average is $37.25. The company has a quick ratio of 0.81, a current ratio of 1.58 and a debt-to-equity ratio of 1.08.

Leggett & Platt (NYSE:LEGGet Rating) last posted its quarterly earnings data on Monday, May 2nd. The company reported $0.66 EPS for the quarter, beating the consensus estimate of $0.56 by $0.10. The business had revenue of $1.32 billion for the quarter, compared to analysts’ expectations of $1.27 billion. Leggett & Platt had a net margin of 7.73% and a return on equity of 23.88%. During the same period in the previous year, the firm posted $0.64 EPS. Equities research analysts predict that Leggett & Platt, Incorporated will post 2.71 EPS for the current year.

Leggett & Platt Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, July 15th. Investors of record on Wednesday, June 15th were given a $0.44 dividend. This is a boost from Leggett & Platt’s previous quarterly dividend of $0.42. This represents a $1.76 annualized dividend and a yield of 4.55%. The ex-dividend date of this dividend was Tuesday, June 14th. Leggett & Platt’s payout ratio is currently 59.46%.

Insider Activity at Leggett & Platt

In related news, Director Phoebe A. Wood sold 2,500 shares of the business’s stock in a transaction on Wednesday, June 1st. The shares were sold at an average price of $38.35, for a total value of $95,875.00. Following the sale, the director now directly owns 53,580 shares of the company’s stock, valued at approximately $2,054,793. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.57% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of research firms have commented on LEG. Raymond James lowered shares of Leggett & Platt from an “outperform” rating to a “market perform” rating in a report on Wednesday, May 4th. StockNews.com raised shares of Leggett & Platt from a “sell” rating to a “hold” rating in a research report on Tuesday, May 3rd. The Goldman Sachs Group reduced their price target on shares of Leggett & Platt from $50.00 to $43.00 and set a “buy” rating on the stock in a research report on Thursday, June 23rd. Finally, Piper Sandler reduced their price target on shares of Leggett & Platt from $40.00 to $36.00 and set a “neutral” rating on the stock in a research report on Tuesday, June 14th. Three equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $43.00.

About Leggett & Platt

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Leggett & Platt, Incorporated designs, manufactures, and markets engineered components and products worldwide. It operates through three segments: Bedding Products; Specialized Products; and Furniture, Flooring & Textile Products. The company offers steel rods, drawn wires, foam chemicals and additives, innersprings, specialty foams, private label finished mattresses, mattress foundations, wire forms for mattress foundations, adjustable beds, industrial sewing and quilting machines, and mattress packaging and glue drying equipment, as well as machines to produce innersprings for industrial users of steel rods and wires, manufacturers of finished bedding, big box and e-commerce retailers, bedding brands and mattress retailers, department stores, and home improvement centers.

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Institutional Ownership by Quarter for Leggett & Platt (NYSE:LEG)

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