Leggett & Platt (NYSE:LEG – Free Report) had its price objective reduced by Truist Financial from $18.00 to $16.00 in a report issued on Tuesday morning, Benzinga reports. They currently have a hold rating on the stock.
Other research analysts also recently issued reports about the stock. TheStreet downgraded shares of Leggett & Platt from a c rating to a d+ rating in a research report on Monday, March 11th. StockNews.com downgraded shares of Leggett & Platt from a hold rating to a sell rating in a research report on Monday, March 11th. Two analysts have rated the stock with a sell rating and two have given a hold rating to the company. According to MarketBeat.com, Leggett & Platt currently has a consensus rating of Hold and an average target price of $19.33.
Get Our Latest Analysis on LEG
Leggett & Platt Price Performance
Leggett & Platt (NYSE:LEG – Get Free Report) last announced its quarterly earnings data on Friday, February 9th. The company reported $0.26 earnings per share for the quarter, missing analysts’ consensus estimates of $0.27 by ($0.01). The company had revenue of $1.12 billion for the quarter, compared to analysts’ expectations of $1.11 billion. Leggett & Platt had a negative net margin of 2.90% and a positive return on equity of 11.99%. Leggett & Platt’s quarterly revenue was down 6.7% compared to the same quarter last year. During the same period last year, the firm earned $0.39 earnings per share. On average, equities research analysts predict that Leggett & Platt will post 1.17 EPS for the current year.
Leggett & Platt Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Monday, April 15th. Shareholders of record on Friday, March 15th will be given a $0.46 dividend. The ex-dividend date is Thursday, March 14th. This represents a $1.84 dividend on an annualized basis and a dividend yield of 9.61%. Leggett & Platt’s dividend payout ratio (DPR) is currently -184.00%.
Institutional Inflows and Outflows
A number of large investors have recently modified their holdings of the company. Ramirez Asset Management Inc. acquired a new position in shares of Leggett & Platt during the 3rd quarter worth about $25,000. Quent Capital LLC raised its position in shares of Leggett & Platt by 133.6% during the 3rd quarter. Quent Capital LLC now owns 1,014 shares of the company’s stock worth $26,000 after purchasing an additional 580 shares during the last quarter. Fifth Third Bancorp raised its position in shares of Leggett & Platt by 253.3% during the 4th quarter. Fifth Third Bancorp now owns 1,007 shares of the company’s stock worth $26,000 after purchasing an additional 722 shares during the last quarter. Point72 Asset Management L.P. acquired a new position in shares of Leggett & Platt during the 2nd quarter worth about $28,000. Finally, Quarry LP acquired a new position in shares of Leggett & Platt during the 4th quarter worth about $30,000. Institutional investors and hedge funds own 64.23% of the company’s stock.
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.
See Also
- Five stocks we like better than Leggett & Platt
- How is Compound Interest Calculated?
- 3 Value Stocks Too Small For Buffett’s Portfolio
- Stock Market Upgrades: What Are They?
- Foot Locker Builds Up Another Head of Steam; Gains Imminent
- 3 Small Caps With Big Return Potential
- Disney Stock Catches 3 Upgrades In a Single Week
Receive News & Ratings for Leggett & Platt Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Leggett & Platt and related companies with MarketBeat.com's FREE daily email newsletter.