Geneos Wealth Management Inc. Reduces Stock Position in Leggett & Platt, Incorporated (NYSE:LEG)

Geneos Wealth Management Inc. cut its holdings in Leggett & Platt, Incorporated (NYSE:LEG) by 89.3% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,143 shares of the company’s stock after selling 9,554 shares during the period. Geneos Wealth Management Inc.’s holdings in Leggett & Platt were worth $30,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in LEG. State Street Corp raised its position in shares of Leggett & Platt by 4.0% during the 2nd quarter. State Street Corp now owns 17,633,812 shares of the company’s stock valued at $530,332,000 after purchasing an additional 685,740 shares during the period. BlackRock Inc. grew its stake in Leggett & Platt by 1.5% during the first quarter. BlackRock Inc. now owns 15,952,440 shares of the company’s stock valued at $508,564,000 after acquiring an additional 239,935 shares in the last quarter. Vanguard Group Inc. grew its stake in Leggett & Platt by 0.9% during the third quarter. Vanguard Group Inc. now owns 12,946,981 shares of the company’s stock valued at $328,983,000 after acquiring an additional 117,499 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in Leggett & Platt by 7.0% during the third quarter. Charles Schwab Investment Management Inc. now owns 6,231,637 shares of the company’s stock valued at $154,888,000 after acquiring an additional 405,363 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its stake in Leggett & Platt by 0.8% during the first quarter. Dimensional Fund Advisors LP now owns 2,252,773 shares of the company’s stock valued at $71,811,000 after acquiring an additional 18,807 shares in the last quarter. 64.23% of the stock is currently owned by institutional investors.

Leggett & Platt Stock Performance

Shares of NYSE:LEG opened at $17.31 on Thursday. Leggett & Platt, Incorporated has a 52 week low of $17.19 and a 52 week high of $33.50. The stock has a market capitalization of $2.31 billion, a P/E ratio of -17.31 and a beta of 1.17. The firm has a fifty day simple moving average of $19.47 and a two-hundred day simple moving average of $22.72. The company has a quick ratio of 0.84, a current ratio of 1.49 and a debt-to-equity ratio of 1.26.

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

Leggett & Platt Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Friday, March 15th were paid a $0.46 dividend. The ex-dividend date was Thursday, March 14th. This represents a $1.84 dividend on an annualized basis and a dividend yield of 10.63%. Leggett & Platt’s payout ratio is currently -184.00%.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the stock. Truist Financial cut their target price on shares of Leggett & Platt from $18.00 to $16.00 and set a “hold” rating for the company in a research note on Tuesday, March 26th. StockNews.com cut shares of Leggett & Platt from a “hold” rating to a “sell” rating in a research note on Monday, March 11th. Finally, TheStreet cut shares of Leggett & Platt from a “c” rating to a “d+” rating in a research note on Monday, March 11th. Two investment analysts have rated the stock with a sell rating and two have issued a hold rating to the company. Based on data from MarketBeat, Leggett & Platt has an average rating of “Hold” and a consensus target price of $19.33.

Leggett & Platt 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.