Valeo Financial Advisors LLC Decreases Position in Leggett & Platt, Incorporated (NYSE:LEG)

Valeo Financial Advisors LLC reduced its position in shares of Leggett & Platt, Incorporated (NYSE:LEG) by 39.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 24,618 shares of the company’s stock after selling 16,288 shares during the period. Valeo Financial Advisors LLC’s holdings in Leggett & Platt were worth $644,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in the company. State Street Corp raised its stake in Leggett & Platt by 35.5% in the 1st quarter. State Street Corp now owns 14,506,308 shares of the company’s stock valued at $510,661,000 after purchasing an additional 3,803,469 shares during the last quarter. Norges Bank acquired a new position in Leggett & Platt in the 4th quarter valued at $30,894,000. Pacer Advisors Inc. raised its stake in Leggett & Platt by 68.5% in the 4th quarter. Pacer Advisors Inc. now owns 1,934,905 shares of the company’s stock valued at $50,636,000 after purchasing an additional 786,297 shares during the last quarter. Qube Research & Technologies Ltd raised its stake in Leggett & Platt by 329.6% in the 3rd quarter. Qube Research & Technologies Ltd now owns 834,221 shares of the company’s stock valued at $21,198,000 after purchasing an additional 640,015 shares during the last quarter. Finally, Renaissance Technologies LLC raised its stake in Leggett & Platt by 453.3% in the 1st quarter. Renaissance Technologies LLC now owns 713,700 shares of the company’s stock valued at $24,837,000 after purchasing an additional 584,700 shares during the last quarter. Institutional investors and hedge funds own 64.23% of the company’s stock.

Analysts Set New Price Targets

LEG has been the subject of several recent research reports. StockNews.com downgraded Leggett & Platt from a “hold” rating to a “sell” rating in a research note on Monday, March 11th. Truist Financial reduced their price target on Leggett & Platt from $18.00 to $16.00 and set a “hold” rating on the stock in a report on Tuesday, March 26th. Finally, TheStreet lowered Leggett & Platt from a “c” rating to a “d+” rating in a report on Monday, March 11th. Two investment analysts have rated the stock with a sell rating and two have given a hold rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $19.33.

Leggett & Platt Trading Down 1.7 %

NYSE LEG opened at $17.66 on Friday. Leggett & Platt, Incorporated has a 52 week low of $17.59 and a 52 week high of $33.50. The company has a current ratio of 1.49, a quick ratio of 0.84 and a debt-to-equity ratio of 1.26. The business’s fifty day simple moving average is $19.81 and its 200-day simple moving average is $22.88.

Leggett & Platt (NYSE:LEG) last announced its quarterly earnings results on Friday, February 9th. The company reported $0.26 EPS for the quarter, missing the consensus estimate of $0.27 by ($0.01). Leggett & Platt had a negative net margin of 2.90% and a positive return on equity of 11.99%. The business had revenue of $1.12 billion during the quarter, compared to analyst estimates of $1.11 billion. During the same period last year, the company earned $0.39 EPS. The business’s revenue for the quarter was down 6.7% on a year-over-year basis. On average, equities research analysts predict that Leggett & Platt, Incorporated will post 1.17 EPS for the current year.

Leggett & Platt Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, April 15th. Stockholders of record on Friday, March 15th will be paid a $0.46 dividend. This represents a $1.84 annualized dividend and a dividend yield of 10.42%. The ex-dividend date is Thursday, March 14th. Leggett & Platt’s dividend payout ratio (DPR) is presently -184.00%.

Leggett & Platt Company Profile

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.