Leggett & Platt, Incorporated (NYSE:LEG) Shares Sold by Public Employees Retirement System of Ohio

Public Employees Retirement System of Ohio lessened its stake in shares of Leggett & Platt, Incorporated (NYSE:LEG) by 4.7% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 48,295 shares of the company’s stock after selling 2,406 shares during the quarter. Public Employees Retirement System of Ohio’s holdings in Leggett & Platt were worth $658,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Fifth Third Bancorp lifted its position in Leggett & Platt by 367.8% during the 2nd quarter. Fifth Third Bancorp now owns 3,396 shares of the company’s stock worth $39,000 after acquiring an additional 2,670 shares in the last quarter. Louisiana State Employees Retirement System grew its holdings in Leggett & Platt by 75.5% during the 2nd quarter. Louisiana State Employees Retirement System now owns 67,400 shares of the company’s stock valued at $772,000 after purchasing an additional 29,000 shares in the last quarter. Legato Capital Management LLC increased its stake in Leggett & Platt by 79.3% during the 2nd quarter. Legato Capital Management LLC now owns 94,497 shares of the company’s stock worth $1,083,000 after buying an additional 41,797 shares during the period. Cambridge Investment Research Advisors Inc. lifted its holdings in Leggett & Platt by 11.7% in the 2nd quarter. Cambridge Investment Research Advisors Inc. now owns 152,102 shares of the company’s stock worth $1,743,000 after buying an additional 15,893 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its position in Leggett & Platt by 55.5% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 38,103 shares of the company’s stock valued at $437,000 after buying an additional 13,593 shares during the last quarter. Hedge funds and other institutional investors own 64.23% of the company’s stock.

Leggett & Platt Price Performance

LEG opened at $9.69 on Friday. The company has a market capitalization of $1.30 billion, a P/E ratio of -1.61 and a beta of 1.07. The company has a 50-day moving average of $12.05 and a 200-day moving average of $12.26. The company has a debt-to-equity ratio of 2.13, a quick ratio of 0.84 and a current ratio of 1.48. Leggett & Platt, Incorporated has a 1-year low of $9.64 and a 1-year high of $26.91.

Leggett & Platt (NYSE:LEG) last announced its quarterly earnings data on Monday, October 28th. The company reported $0.32 earnings per share for the quarter, missing the consensus estimate of $0.33 by ($0.01). Leggett & Platt had a negative net margin of 18.53% and a positive return on equity of 14.99%. The firm had revenue of $1.10 billion during the quarter, compared to the consensus estimate of $1.10 billion. During the same period in the prior year, the firm earned $0.36 earnings per share. The firm’s quarterly revenue was down 6.3% compared to the same quarter last year. Equities analysts expect that Leggett & Platt, Incorporated will post 1.05 EPS for the current fiscal year.

Leggett & Platt Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Friday, December 13th will be paid a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a yield of 2.06%. The ex-dividend date of this dividend is Friday, December 13th. Leggett & Platt’s dividend payout ratio (DPR) is presently -3.33%.

Wall Street Analyst Weigh In

LEG has been the topic of a number of analyst reports. Piper Sandler raised Leggett & Platt from an “underweight” rating to a “neutral” rating and lifted their target price for the stock from $11.00 to $13.00 in a research report on Wednesday, October 30th. StockNews.com upgraded Leggett & Platt from a “sell” rating to a “hold” rating in a report on Wednesday, August 28th. Four equities research analysts have rated the stock with a hold rating, Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $12.67.

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.