Ashton Thomas Private Wealth LLC Sells 6,130 Shares of Leggett & Platt, Incorporated (NYSE:LEG)

Ashton Thomas Private Wealth LLC reduced its holdings in shares of Leggett & Platt, Incorporated (NYSE:LEG) by 35.3% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 11,242 shares of the company’s stock after selling 6,130 shares during the quarter. Ashton Thomas Private Wealth LLC’s holdings in Leggett & Platt were worth $129,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. TFO Wealth Partners LLC grew its stake in shares of Leggett & Platt by 10,833.3% during the 4th quarter. TFO Wealth Partners LLC now owns 656 shares of the company’s stock worth $157,000 after acquiring an additional 650 shares in the last quarter. Abich Financial Wealth Management LLC grew its stake in shares of Leggett & Platt by 93.2% in the first quarter. Abich Financial Wealth Management LLC now owns 1,930 shares of the company’s stock valued at $37,000 after buying an additional 931 shares in the last quarter. Quadrant Capital Group LLC grew its stake in shares of Leggett & Platt by 56.2% in the fourth quarter. Quadrant Capital Group LLC now owns 2,130 shares of the company’s stock valued at $56,000 after buying an additional 766 shares in the last quarter. CVA Family Office LLC bought a new position in shares of Leggett & Platt in the second quarter valued at $36,000. Finally, Fifth Third Bancorp grew its stake in shares of Leggett & Platt by 367.8% in the second quarter. Fifth Third Bancorp now owns 3,396 shares of the company’s stock valued at $39,000 after buying an additional 2,670 shares in the last quarter. 64.23% of the stock is owned by institutional investors.

Leggett & Platt Stock Up 7.2 %

LEG opened at $12.81 on Friday. Leggett & Platt, Incorporated has a fifty-two week low of $10.11 and a fifty-two week high of $27.58. The company has a debt-to-equity ratio of 2.55, a quick ratio of 0.88 and a current ratio of 1.53. The company has a market capitalization of $1.72 billion, a P/E ratio of -11.04 and a beta of 1.07. The stock has a fifty day moving average of $12.36 and a 200-day moving average of $14.34.

Leggett & Platt (NYSE:LEG) last posted its earnings results on Thursday, August 1st. The company reported $0.29 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.29. Leggett & Platt had a positive return on equity of 12.65% and a negative net margin of 18.05%. The company had revenue of $1.13 billion during the quarter, compared to the consensus estimate of $1.13 billion. On average, equities analysts expect that Leggett & Platt, Incorporated will post 1.14 EPS for the current year.

Leggett & Platt Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Friday, September 13th will be issued a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.56%. The ex-dividend date of this dividend is Friday, September 13th. Leggett & Platt’s dividend payout ratio is currently -17.24%.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the stock. StockNews.com raised shares of Leggett & Platt from a “sell” rating to a “hold” rating in a research note on Wednesday, August 28th. The Goldman Sachs Group cut their price target on Leggett & Platt from $14.00 to $12.00 and set a “neutral” rating for the company in a report on Wednesday, July 10th. Finally, Truist Financial raised their price target on Leggett & Platt from $11.00 to $13.00 and gave the company a “hold” rating in a report on Monday, August 5th. One investment analyst has rated the stock with a sell rating and three have issued a hold rating to the company’s stock. Based on data from MarketBeat, Leggett & Platt currently has an average rating of “Hold” and a consensus price target of $12.67.

Leggett & Platt 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.