Steward Partners Investment Advisory LLC lowered its position in Leggett & Platt, Incorporated (NYSE:LEG – Get Rating) by 26.5% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 2,779 shares of the company’s stock after selling 1,003 shares during the period. Steward Partners Investment Advisory LLC’s holdings in Leggett & Platt were worth $97,000 at the end of the most recent quarter.
Several other hedge funds also recently bought and sold shares of the company. Fifth Third Bancorp boosted its holdings in Leggett & Platt by 22.9% in the 4th quarter. Fifth Third Bancorp now owns 1,430 shares of the company’s stock worth $59,000 after buying an additional 266 shares during the period. State of Michigan Retirement System boosted its holdings in Leggett & Platt by 0.8% in the 4th quarter. State of Michigan Retirement System now owns 33,800 shares of the company’s stock worth $1,391,000 after buying an additional 284 shares during the period. Ellevest Inc. boosted its holdings in shares of Leggett & Platt by 35.9% during the 1st quarter. Ellevest Inc. now owns 1,151 shares of the company’s stock valued at $40,000 after purchasing an additional 304 shares during the last quarter. Mitsubishi UFJ Trust & Banking Corp boosted its holdings in shares of Leggett & Platt by 2.7% during the 4th quarter. Mitsubishi UFJ Trust & Banking Corp now owns 16,022 shares of the company’s stock valued at $659,000 after purchasing an additional 424 shares during the last quarter. Finally, Creative Financial Designs Inc. ADV boosted its holdings in shares of Leggett & Platt by 9.6% during the 1st quarter. Creative Financial Designs Inc. ADV now owns 5,533 shares of the company’s stock valued at $193,000 after purchasing an additional 486 shares during the last quarter. Institutional investors own 72.99% of the company’s stock.
Leggett & Platt Stock Up 0.6 %
Shares of NYSE LEG opened at $39.69 on Wednesday. The firm’s 50-day moving average price is $37.13 and its 200-day moving average price is $37.18. The company has a current ratio of 1.58, a quick ratio of 0.81 and a debt-to-equity ratio of 1.08. The stock has a market capitalization of $5.30 billion, a price-to-earnings ratio of 13.41 and a beta of 1.31. Leggett & Platt, Incorporated has a 12-month low of $33.19 and a 12-month high of $49.94.
Leggett & Platt Increases Dividend
The company also recently disclosed a quarterly dividend, which was paid on Friday, July 15th. Shareholders of record on Wednesday, June 15th were paid a $0.44 dividend. The ex-dividend date of this dividend was Tuesday, June 14th. This represents a $1.76 annualized dividend and a yield of 4.43%. This is an increase from Leggett & Platt’s previous quarterly dividend of $0.42. Leggett & Platt’s dividend payout ratio (DPR) is presently 59.46%.
Analysts Set New Price Targets
Several research firms have commented on LEG. The Goldman Sachs Group dropped their price objective on shares of Leggett & Platt from $50.00 to $43.00 and set a “buy” rating for the company in a report on Thursday, June 23rd. StockNews.com raised shares of Leggett & Platt from a “sell” rating to a “hold” rating in a report on Tuesday, May 3rd. Piper Sandler dropped their price objective on shares of Leggett & Platt from $40.00 to $36.00 and set a “neutral” rating for the company in a report on Tuesday, June 14th. Finally, Raymond James downgraded shares of Leggett & Platt from an “outperform” rating to a “market perform” rating in a report on Wednesday, May 4th. Three analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $43.00.
Insiders Place Their Bets
In other Leggett & Platt news, Director Phoebe A. Wood sold 2,500 shares of the firm’s stock in a transaction dated Wednesday, June 1st. The shares were sold at an average price of $38.35, for a total value of $95,875.00. Following the completion of the sale, the director now owns 53,580 shares of the company’s stock, valued at $2,054,793. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 1.57% of the stock is owned by insiders.
About Leggett & Platt
Leggett & Platt, Incorporated designs, manufactures, and markets engineered components and products worldwide. It operates through three segments: Bedding Products; Specialized Products; and Furniture, Flooring & Textile Products. The company offers steel rods, drawn wires, foam chemicals and additives, innersprings, specialty foams, private label finished mattresses, mattress foundations, wire forms for mattress foundations, adjustable beds, industrial sewing and quilting machines, and mattress packaging and glue drying equipment, as well as machines to produce innersprings for industrial users of steel rods and wires, manufacturers of finished bedding, big box and e-commerce retailers, bedding brands and mattress retailers, department stores, and home improvement centers.
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