Leggett & Platt (NYSE:LEG) Sets New 52-Week Low – Should You Sell?

Leggett & Platt, Incorporated (NYSE:LEG)’s share price reached a new 52-week low during trading on Monday . The company traded as low as $7.74 and last traded at $7.83, with a volume of 200219 shares. The stock had previously closed at $7.98.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on LEG shares. Truist Financial decreased their price objective on 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 price target on Leggett & Platt from $14.00 to $12.00 and set a “neutral” rating for the company in a research note on Tuesday, January 14th.

Leggett & Platt Trading Down 2.1 %

The stock has a market cap of $1.05 billion, a price-to-earnings ratio of -2.10 and a beta of 1.11. The business’s 50 day simple moving average is $9.43 and its 200 day simple moving average is $10.99. The company has a quick ratio of 1.14, a current ratio of 2.00 and a debt-to-equity ratio of 2.70.

Leggett & Platt (NYSE:LEG) last announced its earnings results on Thursday, February 13th. The company reported $0.21 earnings per share (EPS) for the quarter, hitting 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 firm had revenue of $1.06 billion for the quarter, compared to analyst estimates of $1.03 billion. On average, research analysts expect that Leggett & Platt, Incorporated will post 1.14 EPS for the current fiscal year.

Leggett & Platt Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Friday, March 14th will be issued a $0.05 dividend. The ex-dividend date of this dividend is Friday, March 14th. This represents a $0.20 annualized dividend and a yield of 2.56%. Leggett & Platt’s dividend payout ratio is presently -5.36%.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of LEG. Vanguard Group Inc. lifted its position in Leggett & Platt by 4.9% during the fourth quarter. Vanguard Group Inc. now owns 15,478,476 shares of the company’s stock worth $148,593,000 after purchasing an additional 722,024 shares during the period. Charles Schwab Investment Management Inc. raised its position in shares of Leggett & Platt by 4.7% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 4,751,066 shares of the company’s stock valued at $45,610,000 after buying an additional 214,571 shares in the last quarter. State Street Corp lifted its holdings in shares of Leggett & Platt by 0.6% during the 3rd quarter. State Street Corp now owns 4,437,066 shares of the company’s stock worth $60,657,000 after acquiring an additional 27,693 shares during the period. Geode Capital Management LLC boosted its position in shares of Leggett & Platt by 2.9% during the 3rd quarter. Geode Capital Management LLC now owns 2,156,322 shares of the company’s stock worth $29,377,000 after acquiring an additional 60,166 shares in the last quarter. Finally, AQR Capital Management LLC increased its stake in Leggett & Platt by 12.4% in the fourth quarter. AQR Capital Management LLC now owns 1,632,152 shares of the company’s stock valued at $15,669,000 after acquiring an additional 179,938 shares during the last quarter. Institutional investors own 64.23% of the company’s stock.

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.