Leggett & Platt, Incorporated (NYSE:LEG – Get Free Report)’s stock price reached a new 52-week low during mid-day trading on Tuesday after Truist Financial lowered their price target on the stock from $18.00 to $16.00. Truist Financial currently has a hold rating on the stock. Leggett & Platt traded as low as $18.21 and last traded at $18.21, with a volume of 657446 shares trading hands. The stock had previously closed at $18.69.
Other equities research analysts have also issued research reports about the company. TheStreet lowered Leggett & Platt from a “c” rating to a “d+” rating in a research note on Monday, March 11th. StockNews.com lowered Leggett & Platt from a “hold” rating to a “sell” rating in a research note on Monday, March 11th. Two equities research analysts have rated the stock with a sell rating and two have issued a hold rating to the stock. Based on data from MarketBeat.com, Leggett & Platt currently has an average rating of “Hold” and an average price target of $19.33.
Institutional Inflows and Outflows
Hedge funds have recently bought and sold shares of the business. Ramirez Asset Management Inc. purchased a new position in Leggett & Platt during the 3rd quarter valued at about $25,000. Quent Capital LLC boosted its position in Leggett & Platt by 133.6% during the 3rd quarter. Quent Capital LLC now owns 1,014 shares of the company’s stock valued at $26,000 after acquiring an additional 580 shares in the last quarter. Fifth Third Bancorp boosted its position in Leggett & Platt by 253.3% during 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 stake in Leggett & Platt during the 2nd quarter valued at approximately $28,000. Finally, Quarry LP bought a new stake in Leggett & Platt during the 4th quarter valued at approximately $30,000. Hedge funds and other institutional investors own 64.23% of the company’s stock.
Leggett & Platt Stock Performance
The company has a 50-day simple moving average of $21.06 and a two-hundred day simple moving average of $23.50. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.84 and a current ratio of 1.49. The firm has a market capitalization of $2.42 billion, a P/E ratio of -18.08 and a beta of 1.18.
Leggett & Platt (NYSE:LEG – Get Free Report) last issued its quarterly earnings results on Friday, February 9th. The company reported $0.26 EPS for the quarter, missing analysts’ consensus estimates 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 company had revenue of $1.12 billion during the quarter, compared to the consensus estimate of $1.11 billion. During the same period in the prior year, the firm earned $0.39 earnings per share. The business’s revenue for the quarter was down 6.7% compared to the same quarter last year. As a group, equities analysts forecast that Leggett & Platt, Incorporated will post 1.17 EPS for the current year.
Leggett & Platt Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Monday, April 15th. Stockholders of record on Friday, March 15th will be given a $0.46 dividend. The ex-dividend date is Thursday, March 14th. This represents a $1.84 dividend on an annualized basis and a dividend yield of 10.18%. Leggett & Platt’s dividend payout ratio is currently -184.00%.
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.