Moors & Cabot Inc. Cuts Holdings in Leggett & Platt, Incorporated (NYSE:LEG)

Moors & Cabot Inc. trimmed its holdings in shares of Leggett & Platt, Incorporated (NYSE:LEG) by 25.0% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 11,550 shares of the company’s stock after selling 3,850 shares during the period. Moors & Cabot Inc.’s holdings in Leggett & Platt were worth $111,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Point72 Asia Singapore Pte. Ltd. purchased a new stake in Leggett & Platt during the 3rd quarter valued at $29,000. Point72 Hong Kong Ltd purchased a new stake in Leggett & Platt during the 3rd quarter valued at $37,000. SRS Capital Advisors Inc. lifted its holdings in shares of Leggett & Platt by 555.8% during the 4th quarter. SRS Capital Advisors Inc. now owns 3,102 shares of the company’s stock valued at $30,000 after buying an additional 2,629 shares during the period. Brooklyn Investment Group bought a new position in shares of Leggett & Platt during the 3rd quarter valued at $44,000. Finally, SBI Securities Co. Ltd. bought a new position in shares of Leggett & Platt during the 4th quarter valued at $50,000. 64.23% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

LEG has been the topic of several research analyst reports. Truist Financial lowered their price target on Leggett & Platt from $13.00 to $11.00 and set a “hold” rating on the stock in a report on Wednesday, January 29th. The Goldman Sachs Group lowered their price target on Leggett & Platt from $14.00 to $12.00 and set a “neutral” rating on the stock in a report on Tuesday, January 14th.

Leggett & Platt Price Performance

Shares of Leggett & Platt stock opened at $8.12 on Monday. Leggett & Platt, Incorporated has a one year low of $7.92 and a one year high of $19.33. The stock’s fifty day moving average is $9.82 and its 200 day moving average is $11.27. The stock has a market cap of $1.09 billion, a P/E ratio of -2.18 and a beta of 1.11. The company has a debt-to-equity ratio of 2.70, a quick ratio of 1.14 and a current ratio of 2.00.

Leggett & Platt (NYSE:LEG) last announced its earnings results on Thursday, February 13th. The company reported $0.21 EPS for the quarter, hitting analysts’ consensus estimates of $0.21. Leggett & Platt had a positive return on equity of 17.09% and a negative net margin of 11.67%. The company had revenue of $1.06 billion for 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 Announces Dividend

The business also recently announced 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. The ex-dividend date of this dividend is Friday, March 14th. This represents a $0.20 dividend on an annualized basis and a yield of 2.46%. Leggett & Platt’s dividend payout ratio is currently -5.36%.

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.