Entropy Technologies LP Sells 8,793 Shares of Leggett & Platt, Incorporated (NYSE:LEG)

Entropy Technologies LP lowered its position in shares of Leggett & Platt, Incorporated (NYSE:LEG) by 28.2% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 22,384 shares of the company’s stock after selling 8,793 shares during the quarter. Entropy Technologies LP’s holdings in Leggett & Platt were worth $305,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in LEG. Pacer Advisors Inc. boosted its position in shares of Leggett & Platt by 426.2% during the 2nd quarter. Pacer Advisors Inc. now owns 14,042,134 shares of the company’s stock valued at $160,923,000 after purchasing an additional 11,373,507 shares in the last quarter. AQR Capital Management LLC boosted its holdings in shares of Leggett & Platt by 1,098.0% during the 2nd quarter. AQR Capital Management LLC now owns 2,005,408 shares of the company’s stock worth $22,160,000 after buying an additional 1,838,009 shares in the last quarter. Principal Financial Group Inc. grew its position in shares of Leggett & Platt by 31.0% during the 2nd quarter. Principal Financial Group Inc. now owns 658,117 shares of the company’s stock worth $7,542,000 after buying an additional 155,860 shares during the period. Russell Investments Group Ltd. lifted its position in shares of Leggett & Platt by 8.4% during the 1st quarter. Russell Investments Group Ltd. now owns 350,876 shares of the company’s stock valued at $6,719,000 after acquiring an additional 27,106 shares during the period. Finally, Public Sector Pension Investment Board bought a new position in Leggett & Platt during the second quarter worth $3,380,000. 64.23% of the stock is owned by institutional investors.

Leggett & Platt Stock Up 0.2 %

Shares of NYSE LEG opened at $11.82 on Friday. The company has a debt-to-equity ratio of 2.13, a current ratio of 1.48 and a quick ratio of 0.84. The company has a 50-day moving average price of $12.71 and a 200-day moving average price of $12.33. The stock has a market capitalization of $1.59 billion, a P/E ratio of -1.97 and a beta of 1.07. Leggett & Platt, Incorporated has a 1 year low of $10.11 and a 1 year high of $27.58.

Leggett & Platt (NYSE:LEG) last issued its quarterly earnings data on Monday, October 28th. The company reported $0.32 EPS for the quarter, missing analysts’ consensus estimates of $0.33 by ($0.01). Leggett & Platt had a positive return on equity of 14.99% and a negative net margin of 18.53%. The company had revenue of $1.10 billion for the quarter, compared to the consensus estimate of $1.10 billion. During the same period in the prior year, the firm posted $0.36 earnings per share. The business’s revenue for the quarter was down 6.3% on a year-over-year basis. On average, equities research analysts forecast that Leggett & Platt, Incorporated will post 1.05 EPS for the current fiscal year.

Leggett & Platt Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Friday, December 13th will be paid a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a yield of 1.69%. The ex-dividend date is Friday, December 13th. Leggett & Platt’s dividend payout ratio (DPR) is presently -3.33%.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the stock. StockNews.com raised shares of Leggett & Platt from a “sell” rating to a “hold” rating in a research note on Wednesday, August 28th. Truist Financial upped their price target on Leggett & Platt from $11.00 to $13.00 and gave the stock a “hold” rating in a research note on Monday, August 5th. Finally, Piper Sandler raised Leggett & Platt from an “underweight” rating to a “neutral” rating and raised their price objective for the company from $11.00 to $13.00 in a research note on Wednesday, October 30th. Four equities research analysts have rated the stock with a hold rating, Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $12.67.

Leggett & Platt Company Profile

Leggett & Platt, Incorporated designs, manufactures, and sells engineered components and products in the United States, Europe, China, Canada, Mexico, and internationally. It operates through three segments: Bedding Products; Specialized Products; and Furniture, Flooring & Textile Products. The company offers steel rods, drawn wires, specialty foam chemicals and additives, innersprings, specialty foam for use in bedding and furniture, private label finished mattresses, ready-to-assemble mattress foundations, static foundations, and adjustable beds, as well as machines for producing innersprings; industrial sewing and quilting machines; mattress-packaging; and glue-drying equipment for various industrial users of steel rod and wire, manufacturers of finished bedding, bedding brands and mattress retailers, E-commerce retailers, big box retailers, department stores, and home improvement centers.