Leggett & Platt, Incorporated (NYSE:LEG) Shares Sold by Twelve Points Wealth Management LLC

Twelve Points Wealth Management LLC cut its holdings in Leggett & Platt, Incorporated (NYSE:LEG) by 14.9% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 18,692 shares of the company’s stock after selling 3,283 shares during the period. Twelve Points Wealth Management LLC’s holdings in Leggett & Platt were worth $255,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of the business. Pacer Advisors Inc. boosted its holdings in shares of Leggett & Platt by 426.2% in the 2nd quarter. Pacer Advisors Inc. now owns 14,042,134 shares of the company’s stock valued at $160,923,000 after buying an additional 11,373,507 shares during the period. Vanguard Group Inc. boosted its holdings in shares of Leggett & Platt by 0.4% in the 4th quarter. Vanguard Group Inc. now owns 12,996,067 shares of the company’s stock valued at $340,107,000 after buying an additional 49,086 shares during the period. AQR Capital Management LLC boosted its holdings in shares of Leggett & Platt by 1,098.0% in the 2nd quarter. AQR Capital Management LLC now owns 2,005,408 shares of the company’s stock valued at $22,160,000 after buying an additional 1,838,009 shares during the period. ProShare Advisors LLC boosted its stake in Leggett & Platt by 1.0% during the 1st quarter. ProShare Advisors LLC now owns 1,284,654 shares of the company’s stock valued at $24,601,000 after purchasing an additional 12,502 shares during the period. Finally, Principal Financial Group Inc. boosted its stake in Leggett & Platt by 31.0% during the 2nd quarter. Principal Financial Group Inc. now owns 658,117 shares of the company’s stock valued at $7,542,000 after purchasing an additional 155,860 shares during the period. 64.23% of the stock is owned by institutional investors and hedge funds.

Leggett & Platt Stock Down 0.4 %

NYSE LEG opened at $13.46 on Friday. The company has a debt-to-equity ratio of 2.55, a current ratio of 1.53 and a quick ratio of 0.88. The company’s 50 day simple moving average is $12.74 and its 200 day simple moving average is $13.23. Leggett & Platt, Incorporated has a 12 month low of $10.11 and a 12 month high of $27.58. The company has a market capitalization of $1.80 billion, a P/E ratio of -11.60 and a beta of 1.07.

Leggett & Platt (NYSE:LEG) last released its earnings results on Thursday, August 1st. The company reported $0.29 EPS for the quarter, hitting analysts’ consensus estimates of $0.29. Leggett & Platt had a negative net margin of 18.05% and a positive return on equity of 12.65%. The business had revenue of $1.13 billion for the quarter, compared to the consensus estimate of $1.13 billion. Equities research analysts expect that Leggett & Platt, Incorporated will post 1.14 earnings per share for the current fiscal year.

Leggett & Platt Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Friday, September 13th were issued a dividend of $0.05 per share. The ex-dividend date was Friday, September 13th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.49%. Leggett & Platt’s dividend payout ratio is currently -17.24%.

Analysts Set New Price Targets

A number of research firms have issued reports on LEG. 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 boosted their target price on shares of Leggett & Platt from $11.00 to $13.00 and gave the company a “hold” rating in a research note on Monday, August 5th. Finally, The Goldman Sachs Group dropped 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 report on Wednesday, July 10th. One equities research analyst has rated the stock with a sell rating and three have assigned a hold rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $12.67.

About Leggett & Platt

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.