Leggett & Platt, Incorporated (NYSE:LEG) Shares Sold by Bank of Nova Scotia

Bank of Nova Scotia decreased its holdings in shares of Leggett & Platt, Incorporated (NYSE:LEG – Get Rating) by 55.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 9,034 shares of the company’s stock after selling 11,435 shares during the quarter. Bank of Nova Scotia’s holdings in Leggett & Platt were worth $291,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Neo Ivy Capital Management acquired a new stake in Leggett & Platt during the third quarter worth about $26,000. Ten Capital Wealth Advisors LLC bought a new position in Leggett & Platt in the 3rd quarter worth about $28,000. Accurate Wealth Management LLC bought a new position in Leggett & Platt in the 4th quarter worth about $45,000. Boyd Watterson Asset Management LLC OH bought a new position in Leggett & Platt in the 4th quarter worth about $47,000. Finally, Disciplined Investments LLC grew its position in Leggett & Platt by 474.7% in the 4th quarter. Disciplined Investments LLC now owns 1,523 shares of the company’s stock worth $49,000 after purchasing an additional 1,258 shares during the last quarter. Institutional investors and hedge funds own 69.42% of the company’s stock.

Leggett & Platt Trading Down 1.1 %

Leggett & Platt stock opened at $31.63 on Friday. The firm has a 50 day simple moving average of $31.66 and a 200-day simple moving average of $33.32. The company has a debt-to-equity ratio of 1.27, a current ratio of 2.08 and a quick ratio of 1.16. The stock has a market capitalization of $4.21 billion, a PE ratio of 15.82 and a beta of 1.30. Leggett & Platt, Incorporated has a 12-month low of $30.05 and a 12-month high of $41.94.

Leggett & Platt (NYSE:LEG – Get Rating) last released its earnings results on Monday, May 1st. The company reported $0.39 EPS for the quarter, beating the consensus estimate of $0.26 by $0.13. Leggett & Platt had a net margin of 5.42% and a return on equity of 16.83%. The business had revenue of $1.21 billion during the quarter, compared to analyst estimates of $1.19 billion. During the same period in the prior year, the business earned $0.66 earnings per share. The business’s quarterly revenue was down 8.2% on a year-over-year basis. As a group, equities research analysts expect that Leggett & Platt, Incorporated will post 1.61 EPS for the current fiscal year.

Leggett & Platt Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 14th. Investors of record on Thursday, June 15th will be paid a dividend of $0.46 per share. The ex-dividend date of this dividend is Wednesday, June 14th. This is a positive change from Leggett & Platt’s previous quarterly dividend of $0.44. This represents a $1.84 annualized dividend and a yield of 5.82%. Leggett & Platt’s dividend payout ratio is currently 88.00%.

Analyst Upgrades and Downgrades

Several research firms have commented on LEG. Piper Sandler decreased their target price on shares of Leggett & Platt from $24.00 to $21.00 and set an “underweight” rating for the company in a research report on Wednesday, February 8th. The Goldman Sachs Group cut shares of Leggett & Platt from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $39.00 to $34.00 in a report on Tuesday, April 11th. Finally, StockNews.com assumed coverage on shares of Leggett & Platt in a report on Thursday, May 18th. They issued a “hold” rating for the company.

Insider Activity at Leggett & Platt

In related news, Director Phoebe A. Wood sold 6,000 shares of the stock in a transaction that occurred on Tuesday, May 23rd. The shares were sold at an average price of $32.61, for a total transaction of $195,660.00. Following the completion of the sale, the director now directly owns 53,109 shares of the company’s stock, valued at $1,731,884.49. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 1.57% of the company’s stock.

Leggett & Platt Profile

(Get Rating)

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.