Axa S.A. Trims Position in Leggett & Platt, Incorporated (NYSE:LEG)

Axa S.A. lowered its holdings in Leggett & Platt, Incorporated (NYSE:LEG) by 36.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 18,338 shares of the company’s stock after selling 10,314 shares during the quarter. Axa S.A.’s holdings in Leggett & Platt were worth $176,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in LEG. Counterpoint Mutual Funds LLC purchased a new position in Leggett & Platt during the fourth quarter valued at approximately $666,000. Vanguard Group Inc. increased its holdings in shares of Leggett & Platt by 4.9% during the 4th quarter. Vanguard Group Inc. now owns 15,478,476 shares of the company’s stock valued at $148,593,000 after purchasing an additional 722,024 shares in the last quarter. American Century Companies Inc. lifted its stake in shares of Leggett & Platt by 50.3% in the 4th quarter. American Century Companies Inc. now owns 138,972 shares of the company’s stock valued at $1,334,000 after purchasing an additional 46,499 shares during the period. Trexquant Investment LP boosted its holdings in Leggett & Platt by 89.0% during the fourth quarter. Trexquant Investment LP now owns 1,177,891 shares of the company’s stock worth $11,308,000 after buying an additional 554,814 shares in the last quarter. Finally, Amundi grew its position in Leggett & Platt by 90.3% during the fourth quarter. Amundi now owns 82,890 shares of the company’s stock valued at $814,000 after buying an additional 39,324 shares during the period. Institutional investors and hedge funds own 64.23% of the company’s stock.

Leggett & Platt Trading Up 1.6 %

Shares of Leggett & Platt stock opened at $9.43 on Friday. The company has a debt-to-equity ratio of 2.70, a current ratio of 2.00 and a quick ratio of 1.14. The stock’s 50 day simple moving average is $7.97 and its 200-day simple moving average is $9.84. The stock has a market cap of $1.27 billion, a P/E ratio of -2.53 and a beta of 0.75. Leggett & Platt, Incorporated has a 1-year low of $6.48 and a 1-year high of $14.24.

Leggett & Platt (NYSE:LEG) last issued its quarterly earnings data on Monday, April 28th. The company reported $0.24 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.23 by $0.01. The firm had revenue of $1.02 billion during the quarter, compared to the consensus estimate of $1.02 billion. Leggett & Platt had a positive return on equity of 17.09% and a negative net margin of 11.67%. The company’s quarterly revenue was down 6.8% on a year-over-year basis. During the same period last year, the company earned $0.23 EPS. Analysts predict that Leggett & Platt, Incorporated will post 1.14 EPS for the current fiscal year.

Leggett & Platt Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Friday, June 13th will be issued a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a dividend yield of 2.12%. The ex-dividend date of this dividend is Friday, June 13th. Leggett & Platt’s dividend payout ratio (DPR) is currently -5.35%.

Analyst Ratings Changes

LEG has been the subject of a number of analyst reports. Piper Sandler reaffirmed a “neutral” rating and issued a $9.00 price target (down previously from $12.00) on shares of Leggett & Platt in a report on Friday, April 11th. The Goldman Sachs Group increased their target price on Leggett & Platt from $8.00 to $9.00 and gave the company a “neutral” rating in a research report on Wednesday, April 30th. Finally, Truist Financial cut their price target on shares of Leggett & Platt from $13.00 to $11.00 and set a “hold” rating for the company in a report on Wednesday, January 29th.

About Leggett & Platt

Leggett & Platt, Inc engages in the manufacture and distribution of furniture and engineered components and products among homes, offices, automobiles, and commercial aircraft. It operates through the following segments: Bedding Products, Specialized Products, and Furniture, Flooring & Textile Products.