Ameriprise Financial Inc. Decreases Holdings in Leggett & Platt, Incorporated (NYSE:LEG)

Ameriprise Financial Inc. cut its holdings in shares of Leggett & Platt, Incorporated (NYSE:LEG) by 5.7% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 432,092 shares of the company’s stock after selling 25,933 shares during the quarter. Ameriprise Financial Inc. owned approximately 0.32% of Leggett & Platt worth $4,151,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Counterpoint Mutual Funds LLC purchased a new stake in shares of Leggett & Platt during the 4th quarter valued at $666,000. Vanguard Group Inc. increased its position in shares of Leggett & Platt by 4.9% during the 4th quarter. Vanguard Group Inc. now owns 15,478,476 shares of the company’s stock valued at $148,593,000 after purchasing an additional 722,024 shares during the last quarter. American Century Companies Inc. increased its position in shares of Leggett & Platt by 50.3% during the 4th quarter. American Century Companies Inc. now owns 138,972 shares of the company’s stock valued at $1,334,000 after purchasing an additional 46,499 shares during the last quarter. Trexquant Investment LP increased its position in shares of Leggett & Platt by 89.0% during the 4th quarter. Trexquant Investment LP now owns 1,177,891 shares of the company’s stock valued at $11,308,000 after purchasing an additional 554,814 shares during the last quarter. Finally, Amundi increased its position in shares of Leggett & Platt by 90.3% during the 4th quarter. Amundi now owns 82,890 shares of the company’s stock valued at $814,000 after purchasing an additional 39,324 shares during the last quarter. 64.23% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts recently weighed in on LEG shares. Piper Sandler reissued a “neutral” rating and issued a $9.00 price objective (down previously from $12.00) on shares of Leggett & Platt in a report on Friday, April 11th. The Goldman Sachs Group lifted their price objective on Leggett & Platt from $8.00 to $9.00 and gave the stock a “neutral” rating in a report on Wednesday, April 30th. Finally, Truist Financial decreased their price objective on Leggett & Platt from $13.00 to $11.00 and set a “hold” rating for the company in a report on Wednesday, January 29th.

Leggett & Platt Stock Down 1.7%

Shares of NYSE LEG opened at $8.73 on Monday. Leggett & Platt, Incorporated has a 52 week low of $6.48 and a 52 week high of $14.24. The business has a 50-day simple moving average of $8.17 and a two-hundred day simple moving average of $9.61. The company has a quick ratio of 1.14, a current ratio of 2.00 and a debt-to-equity ratio of 2.70. The company has a market cap of $1.18 billion, a P/E ratio of -2.34 and a beta of 0.75.

Leggett & Platt (NYSE:LEG) last issued its earnings results on Monday, April 28th. The company reported $0.24 EPS for the quarter, topping the consensus estimate of $0.23 by $0.01. Leggett & Platt had a positive return on equity of 17.09% and a negative net margin of 11.67%. The business had revenue of $1.02 billion during the quarter, compared to the consensus estimate of $1.02 billion. During the same quarter last year, the company earned $0.23 EPS. The firm’s revenue was down 6.8% compared to the same quarter last year. Research analysts anticipate that Leggett & Platt, Incorporated will post 1.14 earnings per share for the current fiscal year.

Leggett & Platt Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Friday, June 13th will be given a dividend of $0.05 per share. The ex-dividend date is Friday, June 13th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 2.29%. Leggett & Platt’s dividend payout ratio (DPR) is presently -5.35%.

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.