Signature Wealth Management Group Sells 3,377 Shares of Leggett & Platt, Incorporated (NYSE:LEG)
Signature Wealth Management Group trimmed its holdings in shares of Leggett & Platt, Incorporated (NYSE:LEG – Get Rating) by 3.9% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 83,320 shares of the company’s stock after selling 3,377 shares during the period. Signature Wealth Management Group owned about 0.06% of Leggett & Platt worth $2,685,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
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Several other hedge funds and other institutional investors also recently added to or reduced their stakes in LEG. State Street Corp boosted its holdings in shares of Leggett & Platt by 25.4% in the 2nd quarter. State Street Corp now owns 18,185,179 shares of the company’s stock valued at $636,663,000 after buying an additional 3,678,871 shares in the last quarter. BlackRock Inc. boosted its holdings in shares of Leggett & Platt by 2.0% in the 3rd quarter. BlackRock Inc. now owns 15,118,584 shares of the company’s stock valued at $502,239,000 after buying an additional 301,672 shares in the last quarter. Vanguard Group Inc. boosted its holdings in shares of Leggett & Platt by 0.5% in the 3rd quarter. Vanguard Group Inc. now owns 12,946,780 shares of the company’s stock valued at $430,093,000 after buying an additional 64,443 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in shares of Leggett & Platt by 5.8% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 4,879,061 shares of the company’s stock valued at $169,791,000 after buying an additional 265,480 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its holdings in shares of Leggett & Platt by 14.9% in the 3rd quarter. Dimensional Fund Advisors LP now owns 2,012,498 shares of the company’s stock valued at $66,859,000 after buying an additional 260,637 shares in the last quarter. 69.42% of the stock is currently owned by institutional investors.
Leggett & Platt Stock Performance
Shares of Leggett & Platt stock opened at $30.50 on Friday. The firm has a market capitalization of $4.05 billion, a P/E ratio of 13.56 and a beta of 1.30. The company has a quick ratio of 1.09, a current ratio of 2.02 and a debt-to-equity ratio of 1.26. The company has a 50 day moving average price of $34.37 and a 200 day moving average price of $34.40. Leggett & Platt, Incorporated has a 52 week low of $30.26 and a 52 week high of $41.94.
Leggett & Platt (NYSE:LEG – Get Rating) last announced its quarterly earnings data on Monday, February 6th. The company reported $0.39 EPS for the quarter, missing the consensus estimate of $0.48 by ($0.09). The company had revenue of $1.20 billion during the quarter, compared to analysts’ expectations of $1.24 billion. Leggett & Platt had a net margin of 6.02% and a return on equity of 19.09%. The business’s revenue for the quarter was down 10.0% compared to the same quarter last year. During the same period in the previous year, the business earned $0.77 earnings per share. Sell-side analysts expect that Leggett & Platt, Incorporated will post 1.58 EPS for the current year.
Leggett & Platt Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 14th. Investors of record on Wednesday, March 15th will be given a $0.44 dividend. This represents a $1.76 annualized dividend and a dividend yield of 5.77%. The ex-dividend date of this dividend is Tuesday, March 14th. Leggett & Platt’s payout ratio is currently 77.53%.
Analyst Upgrades and Downgrades
LEG has been the topic of a number of recent analyst reports. Piper Sandler lowered their price target on shares of Leggett & Platt from $24.00 to $21.00 and set an “underweight” rating on the stock in a report on Wednesday, February 8th. StockNews.com initiated coverage on shares of Leggett & Platt in a report on Thursday. They issued a “sell” rating on the stock. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat, Leggett & Platt has a consensus rating of “Hold” and an average target price of $32.00.
About Leggett & Platt
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, Flooring, Furniture & Textile, and Specialized Products. The Bedding Products segment supplies products and components for the home, including mattress springs and specialty foam, as well as adjustable beds, bedding machinery, steel rod, and drawn wire.
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