Leggett & Platt, Incorporated (NYSE:LEG) Shares Sold by First Horizon Advisors Inc.

First Horizon Advisors Inc. lessened its holdings in shares of Leggett & Platt, Incorporated (NYSE:LEGFree Report) by 81.4% in the fourth quarter, Holdings Channel.com reports. The firm owned 1,086 shares of the company’s stock after selling 4,739 shares during the period. First Horizon Advisors Inc.’s holdings in Leggett & Platt were worth $28,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Cambridge Investment Research Advisors Inc. raised its holdings in Leggett & Platt by 15.8% in the third quarter. Cambridge Investment Research Advisors Inc. now owns 61,524 shares of the company’s stock valued at $1,563,000 after acquiring an additional 8,372 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Leggett & Platt by 19.8% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 25,347 shares of the company’s stock valued at $644,000 after purchasing an additional 4,181 shares in the last quarter. Strs Ohio lifted its position in shares of Leggett & Platt by 17.9% during the third quarter. Strs Ohio now owns 64,448 shares of the company’s stock worth $1,637,000 after purchasing an additional 9,793 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. grew its stake in Leggett & Platt by 41.1% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 14,377 shares of the company’s stock worth $365,000 after purchasing an additional 4,186 shares in the last quarter. Finally, Advisor Partners II LLC increased its holdings in Leggett & Platt by 32.5% in the third quarter. Advisor Partners II LLC now owns 12,732 shares of the company’s stock valued at $324,000 after buying an additional 3,124 shares during the last quarter. 64.23% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Leggett & Platt

In other Leggett & Platt news, EVP Ryan Michael Kleiboeker acquired 10,000 shares of Leggett & Platt stock in a transaction dated Thursday, May 2nd. The stock was acquired at an average cost of $13.39 per share, for a total transaction of $133,900.00. Following the completion of the transaction, the executive vice president now owns 41,535 shares in the company, valued at approximately $556,153.65. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 1.57% of the stock is owned by company insiders.

Leggett & Platt Trading Down 1.1 %

NYSE:LEG opened at $13.03 on Thursday. The firm has a market capitalization of $1.74 billion, a P/E ratio of -11.23 and a beta of 1.19. The business has a 50 day simple moving average of $18.19 and a 200 day simple moving average of $21.83. The company has a debt-to-equity ratio of 1.37, a current ratio of 1.57 and a quick ratio of 0.89. Leggett & Platt, Incorporated has a 12-month low of $11.02 and a 12-month high of $33.06.

Leggett & Platt (NYSE:LEGGet Free Report) last announced its quarterly earnings results on Tuesday, April 30th. The company reported $0.23 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.24 by ($0.01). The firm had revenue of $1.10 billion for the quarter, compared to analyst estimates of $1.11 billion. Leggett & Platt had a negative net margin of 3.44% and a positive return on equity of 11.31%. The business’s revenue was down 9.6% compared to the same quarter last year. During the same period last year, the firm posted $0.39 EPS. Equities research analysts predict that Leggett & Platt, Incorporated will post 1.14 EPS for the current year.

Leggett & Platt Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Friday, June 14th will be given a $0.05 dividend. This represents a $0.20 annualized dividend and a yield of 1.53%. The ex-dividend date of this dividend is Friday, June 14th. Leggett & Platt’s dividend payout ratio (DPR) is -17.24%.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the company. TheStreet downgraded Leggett & Platt from a “c” rating to a “d+” rating in a report on Monday, March 11th. StockNews.com upgraded Leggett & Platt from a “sell” rating to a “hold” rating in a research note on Tuesday. Piper Sandler decreased their price objective on shares of Leggett & Platt from $16.00 to $13.00 and set an “underweight” rating for the company in a report on Wednesday, May 1st. The Goldman Sachs Group dropped their target price on shares of Leggett & Platt from $20.00 to $14.00 and set a “neutral” rating on the stock in a report on Thursday, May 2nd. Finally, Truist Financial decreased their price target on shares of Leggett & Platt from $16.00 to $13.00 and set a “hold” rating for the company in a report on Friday, May 3rd. One analyst has rated the stock with a sell rating and three have assigned a hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $13.33.

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About Leggett & Platt

(Free Report)

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.

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Institutional Ownership by Quarter for Leggett & Platt (NYSE:LEG)

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