Vident Advisory LLC Trims Stock Holdings in Leggett & Platt, Incorporated (NYSE:LEG)

Vident Advisory LLC trimmed its holdings in Leggett & Platt, Incorporated (NYSE:LEG) by 19.9% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 21,435 shares of the company’s stock after selling 5,330 shares during the period. Vident Advisory LLC’s holdings in Leggett & Platt were worth $206,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also bought and sold shares of the business. Vanguard Group Inc. grew its stake in Leggett & Platt by 4.9% in the 4th quarter. Vanguard Group Inc. now owns 15,478,476 shares of the company’s stock valued at $148,593,000 after buying an additional 722,024 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in Leggett & Platt by 4.7% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 4,751,066 shares of the company’s stock valued at $45,610,000 after buying an additional 214,571 shares in the last quarter. AQR Capital Management LLC grew its stake in Leggett & Platt by 12.4% in the 4th quarter. AQR Capital Management LLC now owns 1,632,152 shares of the company’s stock valued at $15,669,000 after buying an additional 179,938 shares in the last quarter. Invenomic Capital Management LP grew its stake in Leggett & Platt by 64.6% in the 4th quarter. Invenomic Capital Management LP now owns 1,517,156 shares of the company’s stock valued at $14,565,000 after buying an additional 595,684 shares in the last quarter. Finally, Wellington Management Group LLP grew its stake in Leggett & Platt by 3.0% in the 4th quarter. Wellington Management Group LLP now owns 1,190,258 shares of the company’s stock valued at $11,426,000 after buying an additional 34,972 shares in the last quarter. 64.23% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the stock. 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 price objective on Leggett & Platt from $8.00 to $9.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 30th.

Leggett & Platt Stock Performance

Shares of NYSE:LEG opened at $9.06 on Friday. The company has a market cap of $1.22 billion, a price-to-earnings ratio of -2.43 and a beta of 0.75. The company has a 50-day moving average price of $8.23 and a 200-day moving average price of $9.54. The company has a current ratio of 2.00, a quick ratio of 1.14 and a debt-to-equity ratio of 2.70. Leggett & Platt, Incorporated has a 12 month low of $6.48 and a 12 month high of $14.24.

Leggett & Platt (NYSE:LEG) last issued its quarterly earnings data on Monday, April 28th. The company reported $0.24 EPS for the quarter, beating the consensus estimate 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 negative net margin of 11.67% and a positive return on equity of 17.09%. The company’s quarterly revenue was down 6.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.23 earnings per share. As a group, equities analysts anticipate that Leggett & Platt, Incorporated will post 1.14 EPS for the current year.

Leggett & Platt Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Friday, June 13th will be paid a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a dividend yield of 2.21%. The ex-dividend date is Friday, June 13th. Leggett & Platt’s dividend payout ratio (DPR) is -5.35%.

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.