Geode Capital Management LLC Trims Stock Holdings in Leggett & Platt, Incorporated (NYSE:LEG)

Geode Capital Management LLC lowered its position in shares of Leggett & Platt, Incorporated (NYSE:LEG) by 2.2% in the fourth quarter, according to the company in its most recent filing with the SEC. The firm owned 2,109,249 shares of the company’s stock after selling 47,073 shares during the quarter. Geode Capital Management LLC owned about 1.57% of Leggett & Platt worth $20,256,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in the company. Vanguard Group Inc. raised its position in Leggett & Platt by 4.9% during the fourth quarter. Vanguard Group Inc. now owns 15,478,476 shares of the company’s stock valued at $148,593,000 after acquiring an additional 722,024 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of Leggett & Platt by 4.7% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 4,751,066 shares of the company’s stock worth $45,610,000 after buying an additional 214,571 shares during the period. Wellington Management Group LLP lifted its position in shares of Leggett & Platt by 3.0% during the 4th quarter. Wellington Management Group LLP now owns 1,190,258 shares of the company’s stock valued at $11,426,000 after buying an additional 34,972 shares in the last quarter. Principal Financial Group Inc. increased its holdings in Leggett & Platt by 3.1% in the 4th quarter. Principal Financial Group Inc. now owns 651,204 shares of the company’s stock worth $6,252,000 after acquiring an additional 19,467 shares in the last quarter. Finally, JPMorgan Chase & Co. increased its stake in Leggett & Platt by 38.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 581,665 shares of the company’s stock worth $7,922,000 after buying an additional 160,104 shares in the last quarter. Hedge funds and other institutional investors own 64.23% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the stock. Truist Financial lowered their price target on shares of Leggett & Platt from $13.00 to $11.00 and set a “hold” rating on the stock in a research report on Wednesday, January 29th. Piper Sandler reaffirmed a “neutral” rating and issued a $9.00 target price (down from $12.00) on shares of Leggett & Platt in a research note on Friday, April 11th. Finally, The Goldman Sachs Group dropped their price target on shares of Leggett & Platt from $14.00 to $12.00 and set a “neutral” rating for the company in a research note on Tuesday, January 14th.

Leggett & Platt Stock Up 4.5 %

Shares of NYSE LEG opened at $6.86 on Friday. The business has a 50-day moving average of $8.29 and a two-hundred day moving average of $10.31. The company has a market capitalization of $923.87 million, a price-to-earnings ratio of -1.84 and a beta of 0.98. Leggett & Platt, Incorporated has a 1 year low of $6.48 and a 1 year high of $18.49. The company has a debt-to-equity ratio of 2.70, a current ratio of 2.00 and a quick ratio of 1.14.

Leggett & Platt (NYSE:LEG) last issued its quarterly earnings data on Thursday, February 13th. The company reported $0.21 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.21. The company had revenue of $1.06 billion for the quarter, compared to analyst estimates of $1.03 billion. Leggett & Platt had a positive return on equity of 17.09% and a negative net margin of 11.67%. On average, analysts forecast that Leggett & Platt, Incorporated will post 1.14 earnings per share for the current fiscal year.

Leggett & Platt Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Friday, March 14th were given a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a yield of 2.92%. The ex-dividend date was Friday, March 14th. Leggett & Platt’s payout ratio is currently -5.36%.

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.