Geneos Wealth Management Inc. Sells 9,554 Shares of Leggett & Platt, Incorporated (NYSE:LEG)

Geneos Wealth Management Inc. lowered its position in shares of Leggett & Platt, Incorporated (NYSE:LEG) by 89.3% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,143 shares of the company’s stock after selling 9,554 shares during the quarter. Geneos Wealth Management Inc.’s holdings in Leggett & Platt were worth $30,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Ramirez Asset Management Inc. bought a new position in shares of Leggett & Platt during the 3rd quarter worth about $25,000. Fifth Third Bancorp lifted its position in Leggett & Platt by 253.3% in the 4th quarter. Fifth Third Bancorp now owns 1,007 shares of the company’s stock valued at $26,000 after acquiring an additional 722 shares in the last quarter. Point72 Asset Management L.P. bought a new position in Leggett & Platt in the 2nd quarter valued at about $28,000. Industrial Alliance Investment Management Inc. bought a new position in Leggett & Platt in the 4th quarter valued at about $48,000. Finally, Hexagon Capital Partners LLC lifted its position in Leggett & Platt by 67.5% in the 3rd quarter. Hexagon Capital Partners LLC now owns 1,930 shares of the company’s stock valued at $49,000 after acquiring an additional 778 shares in the last quarter. Institutional investors own 64.23% of the company’s stock.

Leggett & Platt Price Performance

Leggett & Platt stock opened at $17.31 on Thursday. Leggett & Platt, Incorporated has a 52 week low of $17.19 and a 52 week high of $33.50. The company’s 50 day moving average price is $19.47 and its two-hundred day moving average price is $22.72. The company has a quick ratio of 0.84, a current ratio of 1.49 and a debt-to-equity ratio of 1.26. The stock has a market cap of $2.31 billion, a P/E ratio of -17.31 and a beta of 1.17.

Leggett & Platt (NYSE:LEG) last posted its earnings results on Friday, February 9th. The company reported $0.26 EPS for the quarter, missing the consensus estimate of $0.27 by ($0.01). Leggett & Platt had a positive return on equity of 11.99% and a negative net margin of 2.90%. The firm had revenue of $1.12 billion for the quarter, compared to the consensus estimate of $1.11 billion. During the same period in the prior year, the business earned $0.39 EPS. Leggett & Platt’s quarterly revenue was down 6.7% compared to the same quarter last year. On average, equities analysts predict that Leggett & Platt, Incorporated will post 1.17 earnings per share for the current year.

Leggett & Platt Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Friday, March 15th were issued a $0.46 dividend. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $1.84 dividend on an annualized basis and a dividend yield of 10.63%. Leggett & Platt’s dividend payout ratio (DPR) is presently -184.00%.

Wall Street Analysts Forecast Growth

LEG has been the topic of several recent research reports. StockNews.com cut shares of Leggett & Platt from a “hold” rating to a “sell” rating in a research report on Monday, March 11th. TheStreet cut shares of Leggett & Platt from a “c” rating to a “d+” rating in a research report on Monday, March 11th. Finally, Truist Financial dropped their price target on shares of Leggett & Platt from $18.00 to $16.00 and set a “hold” rating on the stock in a research report on Tuesday, March 26th. Two investment analysts have rated the stock with a sell rating and two have given a hold rating to the company’s stock. Based on data from MarketBeat, Leggett & Platt currently has a consensus rating of “Hold” and an average target price of $19.33.

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.