Leggett & Platt, Incorporated (NYSE:LEG) Shares Sold by California State Teachers Retirement System

California State Teachers Retirement System decreased its position in Leggett & Platt, Incorporated (NYSE:LEG) by 3.6% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 125,430 shares of the company’s stock after selling 4,639 shares during the quarter. California State Teachers Retirement System owned about 0.09% of Leggett & Platt worth $1,204,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in LEG. KBC Group NV raised its stake in Leggett & Platt by 74.5% in the 4th quarter. KBC Group NV now owns 7,028 shares of the company’s stock valued at $67,000 after purchasing an additional 3,000 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. raised its stake in Leggett & Platt by 18.8% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 97,107 shares of the company’s stock valued at $928,000 after purchasing an additional 15,377 shares during the last quarter. Empowered Funds LLC acquired a new position in Leggett & Platt in the 4th quarter valued at about $123,000. Entropy Technologies LP raised its stake in Leggett & Platt by 28.6% in the 4th quarter. Entropy Technologies LP now owns 28,791 shares of the company’s stock valued at $276,000 after purchasing an additional 6,407 shares during the last quarter. Finally, State of New Jersey Common Pension Fund D raised its stake in Leggett & Platt by 19.5% in the 4th quarter. State of New Jersey Common Pension Fund D now owns 183,333 shares of the company’s stock valued at $1,760,000 after purchasing an additional 29,924 shares during the last quarter. Institutional investors and hedge funds own 64.23% of the company’s stock.

Leggett & Platt Stock Up 1.6%

LEG opened at $9.25 on Tuesday. The company has a debt-to-equity ratio of 2.70, a current ratio of 2.00 and a quick ratio of 1.14. The stock has a market capitalization of $1.25 billion, a price-to-earnings ratio of -2.48 and a beta of 0.75. The business has a 50-day moving average of $8.36 and a two-hundred day moving average of $9.40. Leggett & Platt, Incorporated has a 12 month low of $6.48 and a 12 month high of $14.24.

Leggett & Platt (NYSE:LEG) last posted its quarterly earnings results on Monday, April 28th. The company reported $0.24 EPS 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%. The firm’s revenue was down 6.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.23 EPS. On average, research analysts expect that Leggett & Platt, Incorporated will post 1.14 earnings per share for the current year.

Leggett & Platt Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Friday, June 13th will be issued a $0.05 dividend. This represents a $0.20 annualized dividend and a yield of 2.16%. The ex-dividend date of this dividend is Friday, June 13th. Leggett & Platt’s dividend payout ratio (DPR) is -5.35%.

Analysts Set New Price Targets

Several research analysts recently weighed in on the stock. The Goldman Sachs Group boosted their target price on shares of Leggett & Platt from $8.00 to $9.00 and gave the company a “neutral” rating in a research note on Wednesday, April 30th. Piper Sandler restated a “neutral” rating and issued a $9.00 price target (down previously from $12.00) on shares of Leggett & Platt in a 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.