Lazard Asset Management LLC Has $35,000 Stock Holdings in Leggett & Platt, Incorporated (NYSE:LEG)

Lazard Asset Management LLC lowered its position in shares of Leggett & Platt, Incorporated (NYSE:LEG) by 55.3% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 3,730 shares of the company’s stock after selling 4,613 shares during the quarter. Lazard Asset Management LLC’s holdings in Leggett & Platt were worth $35,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. SRS Capital Advisors Inc. increased 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 worth $30,000 after acquiring an additional 2,629 shares during the period. SBI Securities Co. Ltd. bought a new position in shares of Leggett & Platt during the fourth quarter worth approximately $50,000. KBC Group NV increased its holdings 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 purchasing an additional 3,000 shares during the period. Sterling Capital Management LLC raised its position in shares of Leggett & Platt by 17.1% in 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 in the last quarter. Finally, Blue Trust Inc. boosted its stake in shares of Leggett & Platt by 461.6% in the fourth quarter. Blue Trust Inc. now owns 9,688 shares of the company’s stock valued at $93,000 after buying an additional 7,963 shares during the period. Institutional investors and hedge funds own 64.23% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have commented on LEG. The Goldman Sachs Group raised their price objective on Leggett & Platt from $8.00 to $9.00 and gave the stock a “neutral” rating in a research note on Wednesday, April 30th. Truist Financial decreased their price target 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. Finally, Piper Sandler reaffirmed a “neutral” rating and set a $9.00 price objective (down previously from $12.00) on shares of Leggett & Platt in a research report on Friday, April 11th.

Leggett & Platt Stock Down 1.7%

Shares of LEG opened at $8.73 on Tuesday. The firm has a 50 day simple moving average of $8.17 and a two-hundred day simple moving average of $9.59. 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, Incorporated has a one year low of $6.48 and a one year high of $14.24. 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 posted its quarterly earnings results on Monday, April 28th. The company reported $0.24 EPS for the quarter, topping analysts’ consensus estimates 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 company had revenue of $1.02 billion during the quarter, compared to analysts’ expectations of $1.02 billion. During the same quarter in the previous year, the firm earned $0.23 EPS. Leggett & Platt’s revenue was down 6.8% on a year-over-year basis. Research analysts forecast that Leggett & Platt, Incorporated will post 1.14 EPS for the current fiscal year.

Leggett & Platt Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Friday, June 13th will be issued a $0.05 dividend. 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 currently -5.35%.

Leggett & Platt 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.