Speece Thorson Capital Group Inc. Sells 368,042 Shares of Leggett & Platt, Incorporated (NYSE:LEG)

Speece Thorson Capital Group Inc. lessened its stake in shares of Leggett & Platt, Incorporated (NYSE:LEG) by 59.7% in the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 248,773 shares of the company’s stock after selling 368,042 shares during the quarter. Speece Thorson Capital Group Inc.’s holdings in Leggett & Platt were worth $2,388,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. SRS Capital Advisors Inc. boosted its holdings in shares of Leggett & Platt by 555.8% during the fourth quarter. SRS Capital Advisors Inc. now owns 3,102 shares of the company’s stock worth $30,000 after acquiring an additional 2,629 shares during the period. SBI Securities Co. Ltd. bought a new position in Leggett & Platt during the 4th quarter worth $50,000. KBC Group NV boosted its position in shares of Leggett & Platt by 74.5% in the fourth quarter. KBC Group NV now owns 7,028 shares of the company’s stock valued at $67,000 after acquiring an additional 3,000 shares during the period. Sterling Capital Management LLC increased its position in Leggett & Platt by 17.1% during the fourth quarter. Sterling Capital Management LLC now owns 7,972 shares of the company’s stock worth $77,000 after acquiring an additional 1,163 shares during the period. Finally, Blue Trust Inc. boosted its holdings in Leggett & Platt by 461.6% in the 4th quarter. Blue Trust Inc. now owns 9,688 shares of the company’s stock valued at $93,000 after purchasing an additional 7,963 shares during the period. Institutional investors own 64.23% of the company’s stock.

Leggett & Platt Trading Up 4.5 %

Shares of LEG opened at $6.86 on Friday. 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 firm has a market cap of $923.87 million, a price-to-earnings ratio of -1.84 and a beta of 0.98. Leggett & Platt, Incorporated has a 52-week low of $6.48 and a 52-week high of $18.49. The business’s fifty day moving average is $8.29 and its 200-day moving average is $10.31.

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

Leggett & Platt Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Friday, March 14th were issued a $0.05 dividend. The ex-dividend date was Friday, March 14th. This represents a $0.20 dividend on an annualized basis and a yield of 2.92%. Leggett & Platt’s payout ratio is presently -5.36%.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on LEG shares. The Goldman Sachs Group cut their price target on Leggett & Platt from $14.00 to $12.00 and set a “neutral” rating for the company in a research note on Tuesday, January 14th. Piper Sandler reaffirmed a “neutral” rating and issued a $9.00 price target (down previously from $12.00) on shares of Leggett & Platt in a research note on Friday, April 11th. Finally, Truist Financial reduced their price objective on shares of Leggett & Platt from $13.00 to $11.00 and set a “hold” rating on the stock in a research note on Wednesday, January 29th.

Leggett & Platt 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.