Mariner LLC Decreases Holdings in Leggett & Platt, Incorporated (NYSE:LEG)

Mariner LLC reduced its position in Leggett & Platt, Incorporated (NYSE:LEG) by 75.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 37,775 shares of the company’s stock after selling 117,322 shares during the quarter. Mariner LLC’s holdings in Leggett & Platt were worth $363,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. SRS Capital Advisors Inc. increased its holdings in shares of 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 acquiring an additional 2,629 shares in the last quarter. SBI Securities Co. Ltd. purchased a new position in shares of Leggett & Platt in the fourth quarter worth $50,000. KBC Group NV lifted its stake in shares of Leggett & Platt by 74.5% during the fourth quarter. KBC Group NV now owns 7,028 shares of the company’s stock worth $67,000 after buying an additional 3,000 shares during the period. Sterling Capital Management LLC grew its holdings in shares of Leggett & Platt by 17.1% during the fourth quarter. Sterling Capital Management LLC now owns 7,972 shares of the company’s stock valued at $77,000 after buying an additional 1,163 shares during the last quarter. Finally, Blue Trust Inc. increased its position in shares of Leggett & Platt by 461.6% in the 4th quarter. Blue Trust Inc. now owns 9,688 shares of the company’s stock valued at $93,000 after acquiring an additional 7,963 shares during the period. Hedge funds and other institutional investors own 64.23% of the company’s stock.

Leggett & Platt Stock Performance

NYSE LEG opened at $9.50 on Friday. The firm has a market capitalization of $1.28 billion, a P/E ratio of -2.55 and a beta of 0.98. The stock has a 50-day simple moving average of $7.95 and a two-hundred day simple moving average of $9.97. The company has a debt-to-equity ratio of 2.70, a quick ratio of 1.14 and a current ratio of 2.00. Leggett & Platt, Incorporated has a fifty-two week low of $6.48 and a fifty-two week high of $14.29.

Leggett & Platt (NYSE:LEG) last announced its quarterly earnings results on Monday, April 28th. The company reported $0.24 earnings per share for the quarter, beating the consensus estimate of $0.23 by $0.01. The company had revenue of $1.02 billion during the quarter, compared to analysts’ expectations of $1.02 billion. Leggett & Platt had a positive return on equity of 17.09% and a negative net margin of 11.67%. Leggett & Platt’s quarterly revenue was down 6.8% on a year-over-year basis. During the same period last year, the business earned $0.23 earnings per share. On average, equities analysts forecast that Leggett & Platt, Incorporated will post 1.14 earnings per share for the current year.

Leggett & Platt Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Friday, March 14th were given a dividend of $0.05 per share. The ex-dividend date of this dividend was Friday, March 14th. This represents a $0.20 annualized dividend and a yield of 2.11%. Leggett & Platt’s dividend payout ratio is presently -5.35%.

Wall Street Analyst Weigh In

LEG has been the subject of a number of research reports. The Goldman Sachs Group lifted their price target on Leggett & Platt from $8.00 to $9.00 and gave the stock a “neutral” rating in a research report on Wednesday. Truist Financial decreased their target price on Leggett & Platt from $13.00 to $11.00 and set a “hold” rating for the company in a report on Wednesday, January 29th. Finally, Piper Sandler reissued a “neutral” rating and set a $9.00 price target (down from $12.00) on shares of Leggett & Platt in a research report on Friday, April 11th.

About Leggett & Platt

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.