Cwm LLC Decreases Position in Leggett & Platt, Incorporated (NYSE:LEG)

Cwm LLC cut its stake in Leggett & Platt, Incorporated (NYSE:LEG) by 19.6% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 27,793 shares of the company’s stock after selling 6,770 shares during the quarter. Cwm LLC’s holdings in Leggett & Platt were worth $220,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. boosted its holdings 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 worth $148,593,000 after purchasing an additional 722,024 shares during the last quarter. American Century Companies Inc. raised its position in Leggett & Platt by 50.3% in the fourth 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 period. Trexquant Investment LP raised its position in Leggett & Platt by 89.0% in the fourth 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 period. Raymond James Financial Inc. purchased a new stake in Leggett & Platt in the fourth quarter valued at approximately $575,000. Finally, Aster Capital Management DIFC Ltd raised its position in Leggett & Platt by 1,163.9% in the fourth quarter. Aster Capital Management DIFC Ltd now owns 49,836 shares of the company’s stock valued at $478,000 after purchasing an additional 45,893 shares during the period. 64.23% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have commented on LEG shares. The Goldman Sachs Group boosted 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 reiterated a “neutral” rating and set a $9.00 target price (down previously from $12.00) on shares of Leggett & Platt in a research note on Friday, April 11th. Finally, Wall Street Zen upgraded shares of Leggett & Platt from a “hold” rating to a “buy” rating in a research note on Saturday, July 5th.

Leggett & Platt Price Performance

Shares of LEG opened at $10.34 on Monday. The company has a market capitalization of $1.40 billion, a price-to-earnings ratio of -2.76 and a beta of 0.74. Leggett & Platt, Incorporated has a fifty-two week low of $6.47 and a fifty-two week high of $14.23. The firm has a 50-day simple moving average of $9.45 and a 200-day simple moving average of $9.12. 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 earnings results on Monday, April 28th. The company reported $0.24 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.23 by $0.01. Leggett & Platt had a negative net margin of 11.89% and a positive return on equity of 20.46%. The company had revenue of $1.02 billion during the quarter, compared to analysts’ expectations of $1.02 billion. During the same period last year, the company posted $0.23 earnings per share. The firm’s quarterly revenue was down 6.8% compared to the same quarter last year. On average, equities research analysts anticipate that Leggett & Platt, Incorporated will post 1.14 earnings per share for the current year.

Leggett & Platt Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, July 15th. Shareholders of record on Friday, June 13th were issued a $0.05 dividend. The ex-dividend date of this dividend was Friday, June 13th. This represents a $0.20 dividend on an annualized basis and a yield of 1.94%. 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.