Radnor Capital Management LLC Decreases Position in Leggett & Platt, Incorporated (NYSE:LEG)

Radnor Capital Management LLC trimmed its holdings in shares of Leggett & Platt, Incorporated (NYSE:LEG) by 29.3% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 15,051 shares of the company’s stock after selling 6,226 shares during the quarter. Radnor Capital Management LLC’s holdings in Leggett & Platt were worth $288,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Insight Folios Inc raised its position in shares of Leggett & Platt by 5.2% in the 4th quarter. Insight Folios Inc now owns 9,374 shares of the company’s stock valued at $245,000 after purchasing an additional 460 shares during the last quarter. Federated Hermes Inc. increased its stake in Leggett & Platt by 2.8% during the 3rd quarter. Federated Hermes Inc. now owns 18,641 shares of the company’s stock valued at $474,000 after purchasing an additional 499 shares in the last quarter. Covestor Ltd raised its holdings in shares of Leggett & Platt by 17.6% in the third quarter. Covestor Ltd now owns 3,575 shares of the company’s stock worth $91,000 after buying an additional 535 shares during the last quarter. Treasurer of the State of North Carolina lifted its stake in shares of Leggett & Platt by 1.0% during the fourth quarter. Treasurer of the State of North Carolina now owns 58,754 shares of the company’s stock worth $1,538,000 after buying an additional 570 shares during the period. Finally, GPS Wealth Strategies Group LLC grew its holdings in shares of Leggett & Platt by 15.1% during the fourth quarter. GPS Wealth Strategies Group LLC now owns 4,624 shares of the company’s stock valued at $121,000 after buying an additional 605 shares during the last quarter. 64.23% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on LEG shares. TheStreet lowered Leggett & Platt from a “c” rating to a “d+” rating in a research note on Monday, March 11th. The Goldman Sachs Group decreased their target price on Leggett & Platt from $20.00 to $14.00 and set a “neutral” rating for the company in a report on Thursday, May 2nd. StockNews.com downgraded shares of Leggett & Platt from a “hold” rating to a “sell” rating in a report on Wednesday, June 19th. Truist Financial decreased their price objective on shares of Leggett & Platt from $16.00 to $13.00 and set a “hold” rating for the company in a research note on Friday, May 3rd. Finally, Piper Sandler cut their price objective on shares of Leggett & Platt from $16.00 to $13.00 and set an “underweight” rating on the stock in a research note on Wednesday, May 1st. Two research analysts have rated the stock with a sell rating and two have issued a hold rating to the stock. According to MarketBeat, Leggett & Platt presently has an average rating of “Hold” and a consensus price target of $13.33.

Insiders Place Their Bets

In other Leggett & Platt news, CEO Karl G. Glassman bought 23,800 shares of the company’s stock in a transaction dated Friday, May 31st. The shares were purchased at an average cost of $11.48 per share, for a total transaction of $273,224.00. Following the transaction, the chief executive officer now directly owns 1,151,891 shares of the company’s stock, valued at $13,223,708.68. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. In other Leggett & Platt news, CEO Karl G. Glassman bought 23,800 shares of Leggett & Platt stock in a transaction dated Friday, May 31st. The stock was acquired at an average cost of $11.48 per share, with a total value of $273,224.00. Following the purchase, the chief executive officer now directly owns 1,151,891 shares in the company, valued at approximately $13,223,708.68. The acquisition was disclosed in a filing with the SEC, which is available at this link. Also, EVP Ryan Michael Kleiboeker purchased 10,000 shares of the company’s stock in a transaction that occurred on Thursday, May 2nd. The stock was bought at an average cost of $13.39 per share, for a total transaction of $133,900.00. Following the purchase, the executive vice president now directly owns 41,535 shares in the company, valued at approximately $556,153.65. The disclosure for this purchase can be found here. Over the last quarter, insiders bought 65,635 shares of company stock worth $773,447. Company insiders own 1.57% of the company’s stock.

Leggett & Platt Stock Down 0.3 %

Leggett & Platt stock opened at $12.04 on Monday. The business’s 50-day moving average price is $13.41 and its 200 day moving average price is $19.17. The company has a quick ratio of 0.89, a current ratio of 1.57 and a debt-to-equity ratio of 1.37. Leggett & Platt, Incorporated has a 52 week low of $10.11 and a 52 week high of $31.14.

Leggett & Platt (NYSE:LEG) last issued its quarterly earnings data on Tuesday, April 30th. The company reported $0.23 EPS for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.01). The firm had revenue of $1.10 billion for the quarter, compared to analyst estimates of $1.11 billion. Leggett & Platt had a positive return on equity of 11.31% and a negative net margin of 3.44%. Leggett & Platt’s revenue for the quarter was down 9.6% compared to the same quarter last year. During the same period in the previous year, the business earned $0.39 EPS. Sell-side analysts predict that Leggett & Platt, Incorporated will post 1.13 EPS for the current fiscal year.

Leggett & Platt Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Friday, June 14th will be issued a $0.05 dividend. The ex-dividend date of this dividend is Friday, June 14th. This represents a $0.20 dividend on an annualized basis and a yield of 1.66%. Leggett & Platt’s payout ratio is -17.24%.

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.