Leggett & Platt, Incorporated (NYSE:LEG) Shares Sold by Baird Financial Group Inc.

Baird Financial Group Inc. decreased its position in shares of Leggett & Platt, Incorporated (NYSE:LEGGet Rating) by 15.9% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 9,336 shares of the company’s stock after selling 1,770 shares during the quarter. Baird Financial Group Inc.’s holdings in Leggett & Platt were worth $323,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. LS Investment Advisors LLC acquired a new stake in shares of Leggett & Platt during the 2nd quarter worth approximately $27,000. ACG Wealth acquired a new stake in shares of Leggett & Platt during the 2nd quarter worth approximately $42,000. Northwestern Mutual Wealth Management Co. grew its stake in shares of Leggett & Platt by 40.9% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 1,689 shares of the company’s stock worth $59,000 after purchasing an additional 490 shares during the period. Ancora Advisors LLC grew its stake in shares of Leggett & Platt by 119.4% during the 1st quarter. Ancora Advisors LLC now owns 1,700 shares of the company’s stock worth $78,000 after purchasing an additional 925 shares during the period. Finally, Geneos Wealth Management Inc. grew its stake in shares of Leggett & Platt by 18.9% during the 1st quarter. Geneos Wealth Management Inc. now owns 1,915 shares of the company’s stock worth $66,000 after purchasing an additional 305 shares during the period. Institutional investors and hedge funds own 71.79% of the company’s stock.

Leggett & Platt Trading Up 2.2 %

Shares of LEG stock opened at $35.67 on Wednesday. The stock’s fifty day moving average is $34.00 and its two-hundred day moving average is $36.52. The company has a debt-to-equity ratio of 1.37, a quick ratio of 1.06 and a current ratio of 2.07. The firm has a market capitalization of $4.73 billion, a P/E ratio of 13.46 and a beta of 1.26. Leggett & Platt, Incorporated has a fifty-two week low of $30.28 and a fifty-two week high of $43.89.

Leggett & Platt (NYSE:LEGGet Rating) last announced its quarterly earnings data on Monday, October 31st. The company reported $0.52 earnings per share for the quarter, beating analysts’ consensus estimates of $0.50 by $0.02. The company had revenue of $1.29 billion for the quarter, compared to analyst estimates of $1.23 billion. Leggett & Platt had a return on equity of 22.32% and a net margin of 6.86%. The firm’s revenue for the quarter was down 2.2% on a year-over-year basis. During the same quarter last year, the firm posted $0.71 EPS. Research analysts expect that Leggett & Platt, Incorporated will post 2.36 earnings per share for the current fiscal year.

Leggett & Platt Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 13th. Shareholders of record on Thursday, December 15th will be issued a $0.44 dividend. The ex-dividend date is Wednesday, December 14th. This represents a $1.76 dividend on an annualized basis and a yield of 4.93%. Leggett & Platt’s payout ratio is currently 66.42%.

Analyst Upgrades and Downgrades

LEG has been the topic of a number of research analyst reports. Piper Sandler dropped their price target on shares of Leggett & Platt from $37.00 to $31.00 in a research note on Tuesday, October 11th. Truist Financial dropped their price target on shares of Leggett & Platt from $41.00 to $35.00 in a research note on Tuesday, October 11th. StockNews.com raised shares of Leggett & Platt from a “sell” rating to a “hold” rating in a research note on Tuesday, November 15th. TheStreet cut shares of Leggett & Platt from a “b-” rating to a “c+” rating in a research note on Thursday, October 20th. Finally, The Goldman Sachs Group dropped their price target on shares of Leggett & Platt from $45.00 to $40.00 and set a “buy” rating on the stock in a research note on Wednesday, October 12th. Three analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat, Leggett & Platt currently has a consensus rating of “Hold” and an average target price of $39.00.

Leggett & Platt Company Profile

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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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