Comerica Bank Has $2.10 Million Stock Holdings in Leggett & Platt, Incorporated (NYSE:LEG)

Comerica Bank lessened its holdings in Leggett & Platt, Incorporated (NYSE:LEGGet Rating) by 2.1% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 65,943 shares of the company’s stock after selling 1,398 shares during the period. Comerica Bank’s holdings in Leggett & Platt were worth $2,101,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the business. Cibc World Market Inc. boosted its position in shares of Leggett & Platt by 3.7% in the second quarter. Cibc World Market Inc. now owns 8,304 shares of the company’s stock worth $287,000 after buying an additional 299 shares during the period. Geneos Wealth Management Inc. boosted its position in Leggett & Platt by 18.9% during the first quarter. Geneos Wealth Management Inc. now owns 1,915 shares of the company’s stock valued at $66,000 after purchasing an additional 305 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its position in Leggett & Platt by 0.6% during the second quarter. Price T Rowe Associates Inc. MD now owns 56,604 shares of the company’s stock valued at $1,957,000 after purchasing an additional 312 shares during the last quarter. Archford Capital Strategies LLC boosted its position in Leggett & Platt by 3.0% during the third quarter. Archford Capital Strategies LLC now owns 11,016 shares of the company’s stock valued at $366,000 after purchasing an additional 324 shares during the last quarter. Finally, Avantax Advisory Services Inc. boosted its position in Leggett & Platt by 5.8% during the second quarter. Avantax Advisory Services Inc. now owns 6,534 shares of the company’s stock valued at $226,000 after purchasing an additional 357 shares during the last quarter. Institutional investors and hedge funds own 69.42% of the company’s stock.

Leggett & Platt Trading Down 2.0 %

Leggett & Platt stock opened at $33.46 on Friday. The company has a debt-to-equity ratio of 1.37, a quick ratio of 1.06 and a current ratio of 2.07. The business’s 50-day simple moving average is $34.09 and its 200-day simple moving average is $35.67. The firm has a market capitalization of $4.44 billion, a PE ratio of 12.63 and a beta of 1.26. Leggett & Platt, Incorporated has a 52 week low of $30.28 and a 52 week high of $41.94.

Leggett & Platt (NYSE:LEGGet Rating) last posted its quarterly earnings data on Monday, October 31st. The company reported $0.52 EPS for the quarter, topping analysts’ consensus estimates of $0.49 by $0.03. The business had revenue of $1.29 billion for the quarter, compared to analyst estimates of $1.23 billion. Leggett & Platt had a return on equity of 22.32% and a net margin of 6.86%. The firm’s revenue for the quarter was down 2.2% on a year-over-year basis. During the same period in the previous year, the company posted $0.71 earnings per share. Equities research analysts forecast that Leggett & Platt, Incorporated will post 2.36 earnings per share for the current year.

Leggett & Platt Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, January 13th. Investors of record on Thursday, December 15th were paid a dividend of $0.44 per share. The ex-dividend date was Wednesday, December 14th. This represents a $1.76 annualized dividend and a yield of 5.26%. Leggett & Platt’s dividend payout ratio is 66.42%.

Analysts Set New Price Targets

A number of research firms recently issued reports on LEG. StockNews.com raised Leggett & Platt from a “sell” rating to a “hold” rating in a research report on Friday, January 6th. Piper Sandler cut Leggett & Platt from a “neutral” rating to an “underweight” rating and reduced their price objective for the company from $31.00 to $24.00 in a research report on Monday, December 12th. The Goldman Sachs Group reduced their price target on Leggett & Platt from $45.00 to $40.00 and set a “buy” rating for the company in a research report on Wednesday, October 12th. Truist Financial reduced their price target on Leggett & Platt from $41.00 to $35.00 in a research report on Tuesday, October 11th. Finally, TheStreet cut Leggett & Platt from a “b-” rating to a “c+” rating in a research report on Thursday, October 20th. One analyst has rated the stock with a sell rating, two have given a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $37.25.

About Leggett & Platt

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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, Flooring, Furniture & Textile, and Specialized Products. The Bedding Products segment supplies products and components for the home, including mattress springs and specialty foam, as well as adjustable beds, bedding machinery, steel rod, and drawn wire.

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Institutional Ownership by Quarter for Leggett & Platt (NYSE:LEG)

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