UMB Bank n.a. Cuts Position in Leggett & Platt, Incorporated (NYSE:LEG)

UMB Bank n.a. lessened its holdings in Leggett & Platt, Incorporated (NYSE:LEGFree Report) by 2.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 153,041 shares of the company’s stock after selling 4,395 shares during the period. UMB Bank n.a. owned about 0.11% of Leggett & Platt worth $4,005,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. Ramirez Asset Management Inc. acquired a new position in Leggett & Platt in the third quarter valued at approximately $25,000. Quent Capital LLC raised its position in Leggett & Platt by 133.6% in the third quarter. Quent Capital LLC now owns 1,014 shares of the company’s stock valued at $26,000 after purchasing an additional 580 shares during the period. Fifth Third Bancorp raised its position in Leggett & Platt by 253.3% in the fourth quarter. Fifth Third Bancorp now owns 1,007 shares of the company’s stock valued at $26,000 after purchasing an additional 722 shares during the period. Point72 Asset Management L.P. purchased a new stake in Leggett & Platt in the second quarter valued at approximately $28,000. Finally, Industrial Alliance Investment Management Inc. purchased a new stake in Leggett & Platt in the fourth quarter valued at approximately $48,000. Hedge funds and other institutional investors own 64.23% of the company’s stock.

Leggett & Platt Price Performance

Shares of LEG opened at $18.43 on Wednesday. Leggett & Platt, Incorporated has a fifty-two week low of $17.81 and a fifty-two week high of $33.50. The company has a market capitalization of $2.46 billion, a price-to-earnings ratio of -18.43 and a beta of 1.17. The firm has a 50-day simple moving average of $20.63 and a 200-day simple moving average of $23.23. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.84 and a current ratio of 1.49.

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

Leggett & Platt Announces Dividend

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

Analyst Ratings Changes

A number of analysts have recently weighed in on LEG shares. TheStreet lowered Leggett & Platt from a “c” rating to a “d+” rating in a research report on Monday, March 11th. StockNews.com lowered Leggett & Platt from a “hold” rating to a “sell” rating in a research report on Monday, March 11th. Finally, Truist Financial dropped their target price on Leggett & Platt from $18.00 to $16.00 and set a “hold” rating on the stock in a report on Tuesday, March 26th. Two equities research analysts have rated the stock with a sell rating and two have issued a hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $19.33.

View Our Latest Stock Analysis on LEG

About Leggett & Platt

(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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Institutional Ownership by Quarter for Leggett & Platt (NYSE:LEG)

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