Leggett & Platt, Incorporated (NYSE:LEG) Shares Sold by Rhumbline Advisers

Rhumbline Advisers lowered its stake in shares of Leggett & Platt, Incorporated (NYSE:LEG) by 3.0% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 316,659 shares of the company’s stock after selling 9,914 shares during the quarter. Rhumbline Advisers owned approximately 0.24% of Leggett & Platt worth $2,505,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. SRS Capital Advisors Inc. boosted its position 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 worth $30,000 after buying an additional 2,629 shares during the period. SBI Securities Co. Ltd. acquired a new position in Leggett & Platt in the fourth quarter worth approximately $50,000. Sterling Capital Management LLC boosted its stake in shares of Leggett & Platt by 17.1% during the 4th quarter. Sterling Capital Management LLC now owns 7,972 shares of the company’s stock worth $77,000 after acquiring an additional 1,163 shares in the last quarter. HighTower Advisors LLC bought a new stake in Leggett & Platt during the 4th quarter valued at approximately $97,000. Finally, Sanctuary Advisors LLC bought a new position in shares of Leggett & Platt during the 4th quarter worth about $108,000. Institutional investors and hedge funds own 64.23% of the company’s stock.

Analysts Set New Price Targets

LEG has been the topic of a number of recent research reports. The Goldman Sachs Group lifted their price target on shares of Leggett & Platt from $8.00 to $9.00 and gave the stock a “neutral” rating in a research note on Wednesday, April 30th. 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.

Leggett & Platt Stock Performance

Shares of LEG stock opened at $9.43 on Tuesday. Leggett & Platt, Incorporated has a one year low of $6.48 and a one year high of $14.24. The stock has a market cap of $1.27 billion, a PE ratio of -2.53 and a beta of 0.75. 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 50-day moving average of $8.60 and a 200-day moving average of $9.29.

Leggett & Platt (NYSE:LEG) last issued its quarterly earnings results on Monday, April 28th. The company reported $0.24 earnings per share for the quarter, topping 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 negative net margin of 11.67% and a positive return on equity of 17.09%. The business’s quarterly revenue was down 6.8% on a year-over-year basis. During the same period last year, the business earned $0.23 EPS. As a group, sell-side analysts expect that Leggett & Platt, Incorporated will post 1.14 earnings per share for the current year.

Leggett & Platt Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Friday, June 13th will be paid a $0.05 dividend. The ex-dividend date is Friday, June 13th. This represents a $0.20 annualized dividend and a yield of 2.12%. Leggett & Platt’s dividend payout ratio (DPR) is currently -5.35%.

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.