Leggett & Platt (NYSE:LEG) Stock Price Down 4.6% – What’s Next?

Leggett & Platt, Incorporated (NYSE:LEG) shares fell 4.6% on Tuesday . The company traded as low as $8.21 and last traded at $8.18. 631,762 shares changed hands during mid-day trading, a decline of 72% from the average session volume of 2,279,372 shares. The stock had previously closed at $8.57.

Analyst Ratings Changes

A number of analysts have commented on LEG shares. Truist Financial reduced their price objective on shares of Leggett & Platt from $13.00 to $11.00 and set a “hold” rating for the company in a research note on Wednesday, January 29th. The Goldman Sachs Group lowered their price objective on shares of Leggett & Platt from $14.00 to $12.00 and set a “neutral” rating on the stock in a research report on Tuesday, January 14th.

Leggett & Platt Stock Up 1.3 %

The company has a debt-to-equity ratio of 2.70, a quick ratio of 1.14 and a current ratio of 2.00. The business’s 50 day moving average is $9.53 and its 200-day moving average is $11.05. The firm has a market capitalization of $1.10 billion, a price-to-earnings ratio of -2.19 and a beta of 1.11.

Leggett & Platt (NYSE:LEG) last posted its quarterly earnings data on Thursday, February 13th. The company reported $0.21 earnings per share for the quarter, hitting the consensus estimate of $0.21. The business had revenue of $1.06 billion during the quarter, compared to analysts’ expectations of $1.03 billion. Leggett & Platt had a positive return on equity of 17.09% and a negative net margin of 11.67%. Equities analysts anticipate that Leggett & Platt, Incorporated will post 1.14 EPS for the current fiscal year.

Leggett & Platt Dividend Announcement

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 given a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a yield of 2.45%. The ex-dividend date is Friday, March 14th. Leggett & Platt’s dividend payout ratio (DPR) is currently -5.36%.

Institutional Trading of Leggett & Platt

A number of hedge funds have recently bought and sold shares of the stock. Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of Leggett & Platt during the third quarter valued at about $29,000. SRS Capital Advisors Inc. raised its holdings in Leggett & Platt by 555.8% in the 4th quarter. SRS Capital Advisors Inc. now owns 3,102 shares of the company’s stock valued at $30,000 after acquiring an additional 2,629 shares in the last quarter. Point72 Hong Kong Ltd bought a new stake in shares of Leggett & Platt in the 3rd quarter worth approximately $37,000. Brooklyn Investment Group bought a new stake in shares of Leggett & Platt in the 3rd quarter worth approximately $44,000. Finally, SBI Securities Co. Ltd. acquired a new stake in shares of Leggett & Platt during the 4th quarter worth approximately $50,000. 64.23% of the stock is owned by institutional investors.

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.