Shares of Leggett & Platt, Incorporated (NYSE:LEG - Get Free Report) hit a new 52-week low during trading on Friday . The stock traded as low as $17.75 and last traded at $17.80, with a volume of 111863 shares changing hands. The stock had previously closed at $17.97.
Analysts Set New Price Targets
A number of equities analysts have issued reports on LEG shares. StockNews.com cut Leggett & Platt from a "hold" rating to a "sell" rating in a report on Monday, March 11th. Truist Financial lowered their price target on Leggett & Platt from $18.00 to $16.00 and set a "hold" rating for the company in a research report on Tuesday, March 26th. Finally, TheStreet lowered Leggett & Platt from a "c" rating to a "d+" rating in a research report on Monday, March 11th. Two investment analysts have rated the stock with a sell rating and two have given a hold rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $19.33.
Leggett & Platt Trading Down 1.7 %
The firm has a 50 day simple moving average of $19.92 and a 200 day simple moving average of $22.94. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.84 and a current ratio of 1.49. The firm has a market cap of $2.36 billion, a P/E ratio of -17.67 and a beta of 1.17.
Leggett & Platt (NYSE:LEG - Get Free Report) last issued its quarterly earnings results on Friday, February 9th. The company reported $0.26 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.27 by ($0.01). The business had revenue of $1.12 billion for 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 business's revenue was down 6.7% compared to the same quarter last year. During the same quarter last year, the business posted $0.39 EPS. On average, equities research analysts predict that Leggett & Platt, Incorporated will post 1.17 EPS for the current fiscal year.
Leggett & Platt Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Monday, April 15th. Shareholders of record on Friday, March 15th will be paid a $0.46 dividend. The ex-dividend date is Thursday, March 14th. This represents a $1.84 dividend on an annualized basis and a yield of 10.42%. Leggett & Platt's dividend payout ratio (DPR) is currently -184.00%.
Hedge Funds Weigh In On Leggett & Platt
Hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. boosted its position in shares of Leggett & Platt by 0.9% during the third quarter. Vanguard Group Inc. now owns 12,946,981 shares of the company's stock valued at $328,983,000 after purchasing an additional 117,499 shares in the last quarter. Pacer Advisors Inc. increased its position in Leggett & Platt by 68.5% in the fourth quarter. Pacer Advisors Inc. now owns 1,934,905 shares of the company's stock worth $50,636,000 after buying an additional 786,297 shares in the last quarter. Invesco Ltd. increased its position in Leggett & Platt by 45.7% in the third quarter. Invesco Ltd. now owns 1,699,580 shares of the company's stock worth $43,186,000 after buying an additional 532,780 shares in the last quarter. American Century Companies Inc. increased its position in Leggett & Platt by 332.4% in the third quarter. American Century Companies Inc. now owns 233,806 shares of the company's stock worth $5,941,000 after buying an additional 179,734 shares in the last quarter. Finally, WBI Investments Inc. bought a new position in shares of Leggett & Platt in the third quarter worth about $768,000. 64.23% of the stock is owned by hedge funds and other institutional investors.
Leggett & Platt Company Profile
(Get Free Report)
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.
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