BNP Paribas Financial Markets Reduces Position in Leggett & Platt, Incorporated (NYSE:LEG)

BNP Paribas Financial Markets decreased its position in Leggett & Platt, Incorporated (NYSE:LEG) by 17.9% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 88,848 shares of the company’s stock after selling 19,394 shares during the period. BNP Paribas Financial Markets’ holdings in Leggett & Platt were worth $853,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the company. Counterpoint Mutual Funds LLC bought a new stake in shares of Leggett & Platt in the 4th quarter worth approximately $666,000. Vanguard Group Inc. lifted its stake in Leggett & Platt by 4.9% in the fourth quarter. Vanguard Group Inc. now owns 15,478,476 shares of the company’s stock worth $148,593,000 after acquiring an additional 722,024 shares during the period. American Century Companies Inc. boosted its holdings in Leggett & Platt by 50.3% in the fourth quarter. American Century Companies Inc. now owns 138,972 shares of the company’s stock valued at $1,334,000 after acquiring an additional 46,499 shares in the last quarter. Trexquant Investment LP increased its position in Leggett & Platt by 89.0% during the 4th quarter. Trexquant Investment LP now owns 1,177,891 shares of the company’s stock valued at $11,308,000 after purchasing an additional 554,814 shares during the period. Finally, Amundi increased its position in Leggett & Platt by 90.3% during the 4th quarter. Amundi now owns 82,890 shares of the company’s stock valued at $814,000 after purchasing an additional 39,324 shares during the period. 64.23% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

LEG has been the subject of several research analyst reports. The Goldman Sachs Group raised their target price on shares of Leggett & Platt from $8.00 to $9.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 30th. Truist Financial cut their price objective on Leggett & Platt from $13.00 to $11.00 and set a “hold” rating on the stock in a research report on Wednesday, January 29th. Finally, Piper Sandler restated a “neutral” rating and set a $9.00 price target (down from $12.00) on shares of Leggett & Platt in a research report on Friday, April 11th.

Leggett & Platt Stock Down 4.4%

NYSE:LEG opened at $8.77 on Thursday. The company has a debt-to-equity ratio of 2.70, a current ratio of 2.00 and a quick ratio of 1.14. The firm’s 50-day moving average price is $8.14 and its 200-day moving average price is $9.70. The company has a market capitalization of $1.18 billion, a PE ratio of -2.35 and a beta of 0.75. Leggett & Platt, Incorporated has a 1-year low of $6.48 and a 1-year high of $14.24.

Leggett & Platt (NYSE:LEG) last posted its quarterly earnings data on Monday, April 28th. The company reported $0.24 EPS for the quarter, topping the consensus estimate of $0.23 by $0.01. Leggett & Platt had a negative net margin of 11.67% and a positive return on equity of 17.09%. The business had revenue of $1.02 billion for the quarter, compared to analyst estimates of $1.02 billion. During the same quarter in the previous year, the firm posted $0.23 earnings per share. Leggett & Platt’s quarterly revenue was down 6.8% on a year-over-year basis. On average, equities analysts predict that Leggett & Platt, Incorporated will post 1.14 EPS for the current fiscal year.

Leggett & Platt Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Friday, June 13th will be paid a $0.05 dividend. The ex-dividend date is Friday, June 13th. This represents a $0.20 annualized dividend and a dividend yield of 2.28%. Leggett & Platt’s payout ratio is currently -5.35%.

Leggett & Platt Company 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.