Leggett & Platt, Incorporated (NYSE:LEG) Shares Sold by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. decreased its position in shares of Leggett & Platt, Incorporated (NYSE:LEG) by 17.5% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 52,780 shares of the company’s stock after selling 11,195 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Leggett & Platt were worth $417,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Sterling Capital Management LLC grew 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 purchasing an additional 1,163 shares during the period. Coldstream Capital Management Inc. acquired a new stake in shares of Leggett & Platt during the 4th quarter worth approximately $111,000. Captrust Financial Advisors grew its stake in shares of 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 purchasing an additional 2,915 shares during the period. Janney Montgomery Scott LLC acquired a new stake in shares of Leggett & Platt during the 1st quarter worth approximately $107,000. Finally, Susquehanna Fundamental Investments LLC acquired a new stake in Leggett & Platt in the 4th quarter valued at $131,000. Institutional investors and hedge funds own 64.23% of the company’s stock.

Leggett & Platt Stock Performance

LEG opened at $9.39 on Friday. The company has a quick ratio of 1.36, a current ratio of 2.17 and a debt-to-equity ratio of 2.09. The company has a market cap of $1.27 billion, a price-to-earnings ratio of 9.11 and a beta of 0.70. Leggett & Platt, Incorporated has a 52-week low of $6.47 and a 52-week high of $14.23. The firm’s fifty day simple moving average is $9.48 and its two-hundred day simple moving average is $8.99.

Leggett & Platt (NYSE:LEG) last announced its quarterly earnings data on Thursday, July 31st. The company reported $0.30 earnings per share for the quarter, beating analysts’ consensus estimates 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 firm’s revenue for the quarter was down 6.3% on a year-over-year basis. During the same quarter last year, the firm posted $0.29 EPS. Equities analysts anticipate that Leggett & Platt, Incorporated will post 1.14 earnings per share for the current fiscal year.

Leggett & Platt Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 15th. Shareholders of record on Monday, September 15th will be issued a $0.05 dividend. The ex-dividend date is Monday, September 15th. This represents a $0.20 dividend on an annualized basis and a yield of 2.1%. Leggett & Platt’s dividend payout ratio (DPR) is presently 19.42%.

Wall Street Analyst Weigh In

LEG has been the subject of a number of research analyst reports. The Goldman Sachs Group upped their price objective on shares of Leggett & Platt from $8.00 to $9.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 30th. Piper Sandler reaffirmed a “neutral” rating and set a $9.00 price objective (down from $10.00) on shares of Leggett & Platt in a report on Monday, August 4th. Finally, Wall Street Zen downgraded shares of Leggett & Platt from a “buy” rating to a “hold” rating in a report on Saturday, August 2nd.

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.