Orion Portfolio Solutions LLC Sells 4,261 Shares of Leggett & Platt, Incorporated (NYSE:LEG)

Orion Portfolio Solutions LLC decreased its holdings in shares of Leggett & Platt, Incorporated (NYSE:LEG) by 29.0% during the third quarter, according to the company in its most recent disclosure with the SEC. The fund owned 10,408 shares of the company’s stock after selling 4,261 shares during the quarter. Orion Portfolio Solutions LLC’s holdings in Leggett & Platt were worth $142,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of LEG. XTX Topco Ltd bought a new position in Leggett & Platt in the 3rd quarter valued at $234,000. Wellington Management Group LLP bought a new position in shares of Leggett & Platt in the third quarter worth about $15,735,000. State Street Corp increased its stake in Leggett & Platt by 0.6% in the 3rd quarter. State Street Corp now owns 4,437,066 shares of the company’s stock worth $60,657,000 after buying an additional 27,693 shares during the period. Stifel Financial Corp lifted its holdings in Leggett & Platt by 3.9% during the 3rd quarter. Stifel Financial Corp now owns 84,996 shares of the company’s stock valued at $1,158,000 after buying an additional 3,202 shares in the last quarter. Finally, Quantinno Capital Management LP boosted its position in Leggett & Platt by 68.4% in the 3rd quarter. Quantinno Capital Management LP now owns 105,754 shares of the company’s stock valued at $1,440,000 after buying an additional 42,939 shares during the period. 64.23% of the stock is currently owned by hedge funds and other institutional investors.

Leggett & Platt Price Performance

NYSE LEG opened at $9.69 on Friday. The company has a market cap of $1.30 billion, a PE ratio of -1.61 and a beta of 1.07. The firm’s 50 day moving average price is $12.05 and its 200-day moving average price is $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 52-week low of $9.64 and a 52-week high of $26.91.

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

Leggett & Platt Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Friday, December 13th will be issued a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a dividend yield of 2.06%. The ex-dividend date is Friday, December 13th. Leggett & Platt’s dividend payout ratio is currently -3.33%.

Analyst Upgrades and Downgrades

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

About Leggett & Platt

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.