Mitsubishi UFJ Kokusai Asset Management Co. Ltd. Sells 914 Shares of Leggett & Platt, Incorporated (NYSE:LEG)

Mitsubishi UFJ Kokusai Asset Management Co. Ltd. decreased its holdings in shares of Leggett & Platt, Incorporated (NYSE:LEG – Get Rating) by 7.6% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 11,168 shares of the company’s stock after selling 914 shares during the quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd.’s holdings in Leggett & Platt were worth $371,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Cibc World Market Inc. raised its holdings in Leggett & Platt by 3.7% during the 2nd quarter. Cibc World Market Inc. now owns 8,304 shares of the company’s stock valued at $287,000 after acquiring an additional 299 shares during the period. Geneos Wealth Management Inc. raised its holdings in Leggett & Platt by 18.9% during the 1st quarter. Geneos Wealth Management Inc. now owns 1,915 shares of the company’s stock valued at $66,000 after acquiring an additional 305 shares during the period. Price T Rowe Associates Inc. MD increased its holdings in shares of Leggett & Platt by 0.6% in the second quarter. Price T Rowe Associates Inc. MD now owns 56,604 shares of the company’s stock worth $1,957,000 after purchasing an additional 312 shares during the period. Archford Capital Strategies LLC increased its holdings in shares of Leggett & Platt by 3.0% in the third quarter. Archford Capital Strategies LLC now owns 11,016 shares of the company’s stock worth $366,000 after purchasing an additional 324 shares during the period. Finally, Avantax Advisory Services Inc. increased its holdings in shares of Leggett & Platt by 5.8% in the second quarter. Avantax Advisory Services Inc. now owns 6,534 shares of the company’s stock worth $226,000 after purchasing an additional 357 shares during the period. Institutional investors own 69.42% of the company’s stock.

Leggett & Platt Stock Up 1.7 %

Shares of NYSE:LEG opened at $34.03 on Monday. Leggett & Platt, Incorporated has a 52-week low of $30.28 and a 52-week high of $41.94. The firm has a fifty day moving average of $34.05 and a 200 day moving average of $35.66. The firm has a market capitalization of $4.51 billion, a PE ratio of 12.84 and a beta of 1.26. The company has a debt-to-equity ratio of 1.37, a quick ratio of 1.06 and a current ratio of 2.07.

Leggett & Platt (NYSE:LEG – Get Rating) last announced its earnings results on Monday, October 31st. The company reported $0.52 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.49 by $0.03. Leggett & Platt had a net margin of 6.86% and a return on equity of 22.32%. The company had revenue of $1.29 billion during the quarter, compared to analyst estimates of $1.23 billion. During the same period in the previous year, the business earned $0.71 earnings per share. The firm’s quarterly revenue was down 2.2% compared to the same quarter last year. As a group, research analysts anticipate that Leggett & Platt, Incorporated will post 2.36 EPS for the current fiscal year.

Leggett & Platt Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, January 13th. Shareholders of record on Thursday, December 15th were given a dividend of $0.44 per share. The ex-dividend date was Wednesday, December 14th. This represents a $1.76 annualized dividend and a yield of 5.17%. Leggett & Platt’s payout ratio is 66.42%.

Analysts Set New Price Targets

LEG has been the topic of several research analyst reports. Piper Sandler cut shares of Leggett & Platt from a “neutral” rating to an “underweight” rating and decreased their price target for the stock from $31.00 to $24.00 in a report on Monday, December 12th. Truist Financial decreased their price target on shares of Leggett & Platt from $41.00 to $35.00 in a report on Tuesday, October 11th. TheStreet cut shares of Leggett & Platt from a “b-” rating to a “c+” rating in a report on Thursday, October 20th. The Goldman Sachs Group decreased their price target on shares of Leggett & Platt from $45.00 to $40.00 and set a “buy” rating on the stock in a report on Wednesday, October 12th. Finally, StockNews.com raised shares of Leggett & Platt from a “sell” rating to a “hold” rating in a report on Friday, January 6th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and one has issued a buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $37.25.

Leggett & Platt Profile

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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, Flooring, Furniture & Textile, and Specialized Products. The Bedding Products segment supplies products and components for the home, including mattress springs and specialty foam, as well as adjustable beds, bedding machinery, steel rod, and drawn wire.