UMB Bank n.a. Sells 4,395 Shares of Leggett & Platt, Incorporated (NYSE:LEG)

UMB Bank n.a. cut its holdings in Leggett & Platt, Incorporated (NYSE:LEG) by 2.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 153,041 shares of the company’s stock after selling 4,395 shares during the period. UMB Bank n.a.’s holdings in Leggett & Platt were worth $4,005,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in LEG. Geneos Wealth Management Inc. raised its position in shares of Leggett & Platt by 18.9% during the 1st quarter. Geneos Wealth Management Inc. now owns 1,915 shares of the company’s stock valued at $66,000 after purchasing an additional 305 shares during the period. Price T Rowe Associates Inc. MD raised its position in shares of Leggett & Platt by 0.6% during the 2nd quarter. Price T Rowe Associates Inc. MD now owns 56,604 shares of the company’s stock valued at $1,957,000 after purchasing an additional 312 shares during the period. MML Investors Services LLC raised its position in shares of Leggett & Platt by 2.5% during the 2nd quarter. MML Investors Services LLC now owns 14,575 shares of the company’s stock valued at $432,000 after purchasing an additional 357 shares during the period. Bleakley Financial Group LLC raised its position in shares of Leggett & Platt by 3.7% during the 1st quarter. Bleakley Financial Group LLC now owns 9,931 shares of the company’s stock valued at $317,000 after purchasing an additional 358 shares during the period. Finally, Cetera Advisor Networks LLC increased its holdings in Leggett & Platt by 5.2% in the 1st quarter. Cetera Advisor Networks LLC now owns 8,989 shares of the company’s stock valued at $313,000 after acquiring an additional 443 shares during the last quarter. 64.23% of the stock is currently owned by institutional investors.

Leggett & Platt Price Performance

LEG stock opened at $18.43 on Wednesday. The stock has a market cap of $2.46 billion, a PE ratio of -18.43 and a beta of 1.17. The company has a current ratio of 1.49, a quick ratio of 0.84 and a debt-to-equity ratio of 1.26. Leggett & Platt, Incorporated has a 12 month low of $17.81 and a 12 month high of $33.50. The company has a 50-day moving average price of $20.63 and a 200 day moving average price of $23.23.

Leggett & Platt (NYSE:LEG) last posted its quarterly earnings results on Friday, February 9th. The company reported $0.26 EPS for the quarter, missing the consensus estimate of $0.27 by ($0.01). The business had revenue of $1.12 billion during the quarter, compared to the consensus estimate of $1.11 billion. Leggett & Platt had a negative net margin of 2.90% and a positive return on equity of 11.99%. The company’s revenue for the quarter was down 6.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.39 EPS. Equities research analysts anticipate that Leggett & Platt, Incorporated will post 1.17 earnings per share for the current year.

Leggett & Platt Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, April 15th. Shareholders of record on Friday, March 15th will be given a dividend of $0.46 per share. The ex-dividend date is Thursday, March 14th. This represents a $1.84 dividend on an annualized basis and a yield of 9.98%. Leggett & Platt’s dividend payout ratio is currently -184.00%.

Analyst Ratings Changes

A number of analysts have issued reports on LEG shares. TheStreet downgraded shares of Leggett & Platt from a “c” rating to a “d+” rating in a report on Monday, March 11th. Truist Financial dropped their price objective on shares of Leggett & Platt from $18.00 to $16.00 and set a “hold” rating for the company in a research note on Tuesday, March 26th. Finally, StockNews.com cut shares of Leggett & Platt from a “hold” rating to a “sell” rating in a research note on Monday, March 11th. Two investment analysts have rated the stock with a sell rating and two have issued a hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $19.33.

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.