Leggett & Platt, Incorporated (NYSE:LEG) Stock Holdings Trimmed by State of Alaska Department of Revenue

State of Alaska Department of Revenue lowered its holdings in shares of Leggett & Platt, Incorporated (NYSE:LEG) by 2.4% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 74,470 shares of the company’s stock after selling 1,853 shares during the period. State of Alaska Department of Revenue owned approximately 0.06% of Leggett & Platt worth $589,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Counterpoint Mutual Funds LLC bought a new stake in Leggett & Platt during the 4th quarter valued at $666,000. Vanguard Group Inc. raised its stake in 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 acquiring an additional 722,024 shares in the last quarter. American Century Companies Inc. raised its stake in 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 acquiring an additional 46,499 shares in the last quarter. Trexquant Investment LP raised its stake in 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 acquiring an additional 554,814 shares in the last quarter. Finally, Amundi raised its stake in 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 acquiring an additional 39,324 shares in the last quarter. Institutional investors own 64.23% of the company’s stock.

Leggett & Platt Stock Up 1.1%

Shares of LEG stock opened at $9.23 on Friday. Leggett & Platt, Incorporated has a 1 year low of $6.48 and a 1 year high of $14.24. The stock has a market cap of $1.25 billion, a PE ratio of -2.47 and a beta of 0.75. The business’s fifty day moving average is $9.00 and its 200-day moving average is $9.13. The company has a debt-to-equity ratio of 2.59, a quick ratio of 1.36 and a current ratio of 2.20.

Leggett & Platt (NYSE:LEG) last issued its quarterly earnings results on Monday, April 28th. The company reported $0.24 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.23 by $0.01. The company had revenue of $1.02 billion for the quarter, compared to analysts’ expectations of $1.02 billion. Leggett & Platt had a positive return on equity of 20.46% and a negative net margin of 11.89%. The firm’s revenue for the quarter was down 6.8% on a year-over-year basis. During the same period last year, the firm earned $0.23 EPS. Equities analysts expect that Leggett & Platt, Incorporated will post 1.14 earnings per share 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. Investors of record on Friday, June 13th will be issued a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a dividend yield of 2.17%. The ex-dividend date of this dividend is Friday, June 13th. Leggett & Platt’s payout ratio is -5.35%.

Analyst Ratings Changes

LEG has been the topic of several research analyst reports. Piper Sandler reiterated 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. The Goldman Sachs Group lifted their price target on Leggett & Platt from $8.00 to $9.00 and gave the company a “neutral” rating in a research report on Wednesday, April 30th. Finally, Wall Street Zen cut Leggett & Platt from a “buy” rating to a “hold” rating in a research report on Saturday, June 21st.

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.