Investors Research Corp Decreases Holdings in Leggett & Platt, Incorporated (NYSE:LEG)

Investors Research Corp trimmed its stake in shares of Leggett & Platt, Incorporated (NYSE:LEG) by 11.6% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 25,635 shares of the company’s stock after selling 3,363 shares during the period. Investors Research Corp’s holdings in Leggett & Platt were worth $246,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Daiwa Securities Group Inc. lifted its stake in shares of Leggett & Platt by 38.9% in the fourth quarter. Daiwa Securities Group Inc. now owns 46,322 shares of the company’s stock worth $445,000 after buying an additional 12,979 shares in the last quarter. Amundi lifted its stake in shares of Leggett & Platt by 90.3% in the fourth quarter. Amundi now owns 82,890 shares of the company’s stock worth $814,000 after buying an additional 39,324 shares in the last quarter. Raymond James Financial Inc. purchased a new position in shares of Leggett & Platt in the fourth quarter worth about $575,000. Aigen Investment Management LP lifted its stake in shares of Leggett & Platt by 214.4% in the fourth quarter. Aigen Investment Management LP now owns 65,621 shares of the company’s stock worth $630,000 after buying an additional 44,749 shares in the last quarter. Finally, Proficio Capital Partners LLC purchased a new position in shares of Leggett & Platt in the fourth quarter worth about $158,000. 64.23% of the stock is owned by hedge funds and other institutional investors.

Leggett & Platt Price Performance

Leggett & Platt stock opened at $8.27 on Tuesday. Leggett & Platt, Incorporated has a 12-month low of $8.25 and a 12-month high of $20.74. The stock has a market cap of $1.11 billion, a P/E ratio of -2.22 and a beta of 1.11. The company has a 50-day moving average price of $9.96 and a 200 day moving average price of $11.43. The company has a current ratio of 2.00, a quick ratio of 1.14 and a debt-to-equity ratio of 2.70.

Leggett & Platt (NYSE:LEG) last announced its quarterly earnings results on Thursday, February 13th. The company reported $0.21 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.21. Leggett & Platt had a negative net margin of 11.67% and a positive return on equity of 17.09%. The business had revenue of $1.06 billion during the quarter, compared to analysts’ expectations of $1.03 billion. Sell-side analysts anticipate that Leggett & Platt, Incorporated will post 1.14 earnings per share for the current year.

Leggett & Platt Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Friday, March 14th will be issued a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a dividend yield of 2.42%. The ex-dividend date is Friday, March 14th. Leggett & Platt’s dividend payout ratio (DPR) is currently -5.36%.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on LEG. Truist Financial decreased their price target on shares of Leggett & Platt from $13.00 to $11.00 and set a “hold” rating on the stock in a research note on Wednesday, January 29th. The Goldman Sachs Group decreased their price target on shares of Leggett & Platt from $14.00 to $12.00 and set a “neutral” rating on the stock in a research note on Tuesday, January 14th. Four research analysts have rated the stock with a hold rating, Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $12.00.

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.