Corient Private Wealth LLC Reduces Position in Leggett & Platt, Incorporated (NYSE:LEG)

Corient Private Wealth LLC decreased its holdings in Leggett & Platt, Incorporated (NYSE:LEG) by 30.6% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 48,908 shares of the company’s stock after selling 21,523 shares during the quarter. Corient Private Wealth LLC’s holdings in Leggett & Platt were worth $470,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. CIBC Asset Management Inc lifted its holdings in Leggett & Platt by 7.7% in the fourth quarter. CIBC Asset Management Inc now owns 13,986 shares of the company’s stock valued at $134,000 after acquiring an additional 1,001 shares during the period. Swiss National Bank lifted its stake in shares of Leggett & Platt by 0.8% in the 4th quarter. Swiss National Bank now owns 263,900 shares of the company’s stock worth $2,533,000 after purchasing an additional 2,100 shares during the period. Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Leggett & Platt in the third quarter worth approximately $29,000. SRS Capital Advisors Inc. grew its position in Leggett & Platt by 555.8% during the fourth quarter. SRS Capital Advisors Inc. now owns 3,102 shares of the company’s stock valued at $30,000 after buying an additional 2,629 shares during the period. Finally, Point72 Hong Kong Ltd purchased a new stake in Leggett & Platt during the third quarter valued at approximately $37,000. Institutional investors own 64.23% of the company’s stock.

Leggett & Platt Price Performance

Shares of LEG stock opened at $7.98 on Friday. The stock has a 50 day moving average price of $9.43 and a 200 day moving average price of $11.00. Leggett & Platt, Incorporated has a 52-week low of $7.92 and a 52-week high of $19.33. The company has a debt-to-equity ratio of 2.70, a quick ratio of 1.14 and a current ratio of 2.00. The firm has a market capitalization of $1.07 billion, a P/E ratio of -2.14 and a beta of 1.11.

Leggett & Platt (NYSE:LEG) last posted its quarterly earnings results on Thursday, February 13th. The company reported $0.21 EPS for the quarter, hitting analysts’ consensus estimates of $0.21. The firm had revenue of $1.06 billion for the quarter, compared to analysts’ expectations of $1.03 billion. Leggett & Platt had a negative net margin of 11.67% and a positive return on equity of 17.09%. As a group, sell-side analysts predict that Leggett & Platt, Incorporated will post 1.14 earnings per share for the current year.

Leggett & Platt Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Friday, March 14th will be given a dividend of $0.05 per share. The ex-dividend date is Friday, March 14th. This represents a $0.20 annualized dividend and a yield of 2.51%. Leggett & Platt’s dividend payout ratio (DPR) is presently -5.36%.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on LEG shares. Truist Financial lowered their price objective on Leggett & Platt from $13.00 to $11.00 and set a “hold” rating on the stock in a research report on Wednesday, January 29th. The Goldman Sachs Group lowered their price target on shares of Leggett & Platt from $14.00 to $12.00 and set a “neutral” rating on the stock in a report on Tuesday, January 14th.

Leggett & Platt Company Profile

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 Products, Specialized Products, and Furniture, Flooring & Textile Products.