Jupiter Asset Management Ltd. Sells 3,484 Shares of Leggett & Platt, Incorporated (NYSE:LEG)

Jupiter Asset Management Ltd. lessened its stake in shares of Leggett & Platt, Incorporated (NYSE:LEG) by 1.0% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 350,564 shares of the company’s stock after selling 3,484 shares during the period. Jupiter Asset Management Ltd. owned 0.26% of Leggett & Platt worth $2,773,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in LEG. Sterling Capital Management LLC increased its stake in 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 during the period. Janney Montgomery Scott LLC bought a new position in Leggett & Platt during the 1st quarter worth $107,000. Coldstream Capital Management Inc. bought a new position in Leggett & Platt during the 4th quarter worth $111,000. Blueshift Asset Management LLC bought a new position in Leggett & Platt during the 1st quarter worth $128,000. Finally, Captrust Financial Advisors increased its stake in Leggett & Platt by 27.5% during the 4th quarter. Captrust Financial Advisors now owns 13,521 shares of the company’s stock worth $130,000 after acquiring an additional 2,915 shares during the period. Institutional investors own 64.23% of the company’s stock.

Wall Street Analyst Weigh In

LEG has been the topic of several recent analyst reports. Wall Street Zen lowered Leggett & Platt from a “buy” rating to a “hold” rating in a research note on Saturday. Piper Sandler reiterated a “neutral” rating and issued a $9.00 price target (down previously from $12.00) on shares of Leggett & Platt in a research note on Friday, April 11th. Finally, 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 note on Wednesday, April 30th.

Leggett & Platt Trading Down 15.2%

Shares of LEG opened at $8.10 on Monday. Leggett & Platt, Incorporated has a 52-week low of $6.47 and a 52-week high of $14.23. The business’s fifty day moving average is $9.51 and its 200-day moving average is $9.09. The company has a debt-to-equity ratio of 2.09, a quick ratio of 1.36 and a current ratio of 2.17. The firm has a market cap of $1.09 billion, a price-to-earnings ratio of 7.86 and a beta of 0.70.

Leggett & Platt (NYSE:LEG) last issued its quarterly earnings results on Thursday, July 31st. The company reported $0.30 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.29 by $0.01. The company had revenue of $1.06 billion for the quarter, compared to analyst estimates of $1.06 billion. Leggett & Platt had a return on equity of 19.42% and a net margin of 3.36%. The company’s revenue for the quarter was down 6.3% compared to the same quarter last year. During the same quarter last year, the company posted $0.29 EPS. Equities analysts anticipate that Leggett & Platt, Incorporated will post 1.14 EPS for the current fiscal year.

Leggett & Platt Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, July 15th. Investors of record on Friday, June 13th were given a dividend of $0.05 per share. The ex-dividend date was Friday, June 13th. This represents a $0.20 dividend on an annualized basis and a yield of 2.5%. Leggett & Platt’s payout ratio is currently 19.42%.

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.