Leggett & Platt (NYSE:LEG) Sets New 12-Month Low at $17.75

Leggett & Platt, Incorporated (NYSE:LEG) reached a new 52-week low on Friday . The company traded as low as $17.75 and last traded at $17.80, with a volume of 111863 shares trading hands. The stock had previously closed at $17.97.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the company. Truist Financial lowered their price target on Leggett & Platt from $18.00 to $16.00 and set a “hold” rating on the stock in a research report on Tuesday, March 26th. TheStreet downgraded Leggett & Platt from a “c” rating to a “d+” rating in a research report on Monday, March 11th. Finally, StockNews.com downgraded Leggett & Platt from a “hold” rating to a “sell” rating in a research report on Monday, March 11th. Two equities research analysts have rated the stock with a sell rating and two have given a hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $19.33.

Leggett & Platt Stock Down 1.7 %

The stock has a 50 day moving average price of $19.81 and a 200-day moving average price of $22.88. The stock has a market capitalization of $2.36 billion, a P/E ratio of -17.66 and a beta of 1.17. The company has a debt-to-equity ratio of 1.26, a current ratio of 1.49 and a quick ratio of 0.84.

Leggett & Platt (NYSE:LEG) last posted its earnings results on Friday, February 9th. The company reported $0.26 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.27 by ($0.01). The business had revenue of $1.12 billion during the quarter, compared to the consensus estimate of $1.11 billion. Leggett & Platt had a positive return on equity of 11.99% and a negative net margin of 2.90%. The firm’s revenue for the quarter was down 6.7% compared to the same quarter last year. During the same period in the previous year, the business earned $0.39 earnings per share. As a group, research analysts expect that Leggett & Platt, Incorporated will post 1.17 EPS for the current fiscal year.

Leggett & Platt Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, April 15th. Shareholders of record on Friday, March 15th will be issued a $0.46 dividend. The ex-dividend date is Thursday, March 14th. This represents a $1.84 annualized dividend and a yield of 10.42%. Leggett & Platt’s dividend payout ratio (DPR) is presently -184.00%.

Institutional Trading of Leggett & Platt

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Arbor Wealth Advisors LLC lifted its holdings in Leggett & Platt by 1.8% in the first quarter. Arbor Wealth Advisors LLC now owns 57,762 shares of the company’s stock worth $1,106,000 after buying an additional 1,010 shares during the period. Richard P Slaughter Associates Inc lifted its holdings in shares of Leggett & Platt by 22.8% during the first quarter. Richard P Slaughter Associates Inc now owns 66,198 shares of the company’s stock valued at $1,268,000 after purchasing an additional 12,272 shares during the last quarter. Arden Trust Co lifted its holdings in shares of Leggett & Platt by 74.6% during the first quarter. Arden Trust Co now owns 69,749 shares of the company’s stock valued at $1,336,000 after purchasing an additional 29,793 shares during the last quarter. Quadrature Capital Ltd lifted its holdings in shares of Leggett & Platt by 32.0% during the fourth quarter. Quadrature Capital Ltd now owns 49,792 shares of the company’s stock valued at $1,303,000 after purchasing an additional 12,064 shares during the last quarter. Finally, Vanguard Group Inc. lifted its holdings in shares of Leggett & Platt by 0.4% during the fourth quarter. Vanguard Group Inc. now owns 12,996,067 shares of the company’s stock valued at $340,107,000 after purchasing an additional 49,086 shares during the last quarter. 64.23% of the stock is currently owned by hedge funds and other institutional investors.

Leggett & Platt Company Profile

Leggett & Platt, Incorporated designs, manufactures, and sells engineered components and products in the United States, Europe, China, Canada, Mexico, and internationally. It operates through three segments: Bedding Products; Specialized Products; and Furniture, Flooring & Textile Products. The company offers steel rods, drawn wires, specialty foam chemicals and additives, innersprings, specialty foam for use in bedding and furniture, private label finished mattresses, ready-to-assemble mattress foundations, static foundations, and adjustable beds, as well as machines for producing innersprings; industrial sewing and quilting machines; mattress-packaging; and glue-drying equipment for various industrial users of steel rod and wire, manufacturers of finished bedding, bedding brands and mattress retailers, E-commerce retailers, big box retailers, department stores, and home improvement centers.