US Bancorp DE Sells 19,107 Shares of Leggett & Platt, Incorporated (NYSE:LEG)

US Bancorp DE lessened its stake in shares of Leggett & Platt, Incorporated (NYSE:LEG) by 3.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 585,955 shares of the company’s stock after selling 19,107 shares during the period. US Bancorp DE owned approximately 0.44% of Leggett & Platt worth $5,625,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in LEG. Proficio Capital Partners LLC purchased a new stake in Leggett & Platt during the 4th quarter valued at about $158,000. South Dakota Investment Council lifted its holdings in shares of Leggett & Platt by 12.6% during the fourth quarter. South Dakota Investment Council now owns 496,078 shares of the company’s stock valued at $4,762,000 after purchasing an additional 55,427 shares in the last quarter. Olympiad Research LP purchased a new stake in shares of Leggett & Platt during the fourth quarter valued at $226,000. Ieq Capital LLC boosted its position in shares of Leggett & Platt by 80.4% during the fourth quarter. Ieq Capital LLC now owns 100,677 shares of the company’s stock valued at $966,000 after buying an additional 44,870 shares during the last quarter. Finally, CIBC Asset Management Inc raised its position in Leggett & Platt by 7.7% in the 4th quarter. CIBC Asset Management Inc now owns 13,986 shares of the company’s stock worth $134,000 after buying an additional 1,001 shares during the last quarter. Hedge funds and other institutional investors own 64.23% of the company’s stock.

Leggett & Platt Price Performance

NYSE LEG opened at $8.58 on Wednesday. The company has a 50-day moving average price of $10.04 and a 200-day moving average price of $11.53. Leggett & Platt, Incorporated has a 52 week low of $8.48 and a 52 week high of $20.96. The company has a quick ratio of 1.14, a current ratio of 2.00 and a debt-to-equity ratio of 2.70. The firm has a market capitalization of $1.16 billion, a P/E ratio of -2.30 and a beta of 1.12.

Leggett & Platt (NYSE:LEG) last announced its earnings results on Thursday, February 13th. The company reported $0.21 EPS for the quarter, meeting analysts’ consensus estimates of $0.21. The business had revenue of $1.06 billion during the quarter, compared to analysts’ expectations of $1.03 billion. Leggett & Platt had a negative net margin of 11.67% and a positive return on equity of 17.09%. 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 will be paid on Tuesday, April 15th. Investors of record on Friday, March 14th will be given a dividend of $0.05 per share. The ex-dividend date of this dividend is Friday, March 14th. This represents a $0.20 annualized dividend and a yield of 2.33%. Leggett & Platt’s dividend payout ratio (DPR) is presently -5.36%.

Analysts Set New Price Targets

LEG has been the subject of several research reports. Truist Financial decreased their price objective on shares of Leggett & Platt from $13.00 to $11.00 and set a “hold” rating for the company in a report on Wednesday, January 29th. The Goldman Sachs Group decreased their target price on shares of Leggett & Platt from $14.00 to $12.00 and set a “neutral” rating for the company in a research note on Tuesday, January 14th. Four equities research analysts have rated the stock with a hold rating, According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $12.00.

Leggett & Platt Company 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.