Moors & Cabot Inc. Sells 3,850 Shares of Leggett & Platt, Incorporated (NYSE:LEG)

Moors & Cabot Inc. cut its holdings in shares of Leggett & Platt, Incorporated (NYSE:LEG) by 25.0% during the fourth quarter, Holdings Channel.com reports. The fund owned 11,550 shares of the company’s stock after selling 3,850 shares during the period. Moors & Cabot Inc.’s holdings in Leggett & Platt were worth $111,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of LEG. GSA Capital Partners LLP bought a new stake in Leggett & Platt during the third quarter valued at about $456,000. Quest Partners LLC grew its position in shares of Leggett & Platt by 4,511,800.0% during the third quarter. Quest Partners LLC now owns 45,119 shares of the company’s stock valued at $615,000 after purchasing an additional 45,118 shares in the last quarter. Intech Investment Management LLC purchased a new position in shares of Leggett & Platt during the third quarter valued at about $302,000. Landscape Capital Management L.L.C. purchased a new position in shares of Leggett & Platt during the third quarter valued at about $369,000. Finally, Cerity Partners LLC grew its position in shares of Leggett & Platt by 158.2% during the third quarter. Cerity Partners LLC now owns 83,402 shares of the company’s stock valued at $1,136,000 after purchasing an additional 51,106 shares in the last quarter. 64.23% of the stock is owned by institutional investors.

Leggett & Platt Trading Up 1.6 %

LEG opened at $8.12 on Monday. The firm has a market cap of $1.09 billion, a P/E ratio of -2.18 and a beta of 1.11. Leggett & Platt, Incorporated has a 12 month low of $7.92 and a 12 month high of $19.33. The company has a current ratio of 2.00, a quick ratio of 1.14 and a debt-to-equity ratio of 2.70. The stock has a 50-day moving average of $9.82 and a 200 day moving average of $11.27.

Leggett & Platt (NYSE:LEG) last released its quarterly earnings results on Thursday, February 13th. The company reported $0.21 EPS for the quarter, hitting the consensus estimate of $0.21. The company had revenue of $1.06 billion during the quarter, compared to analyst estimates of $1.03 billion. Leggett & Platt had a positive return on equity of 17.09% and a negative net margin of 11.67%. As a group, research analysts forecast 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, April 15th. Shareholders of record on Friday, March 14th will be paid a $0.05 dividend. This represents a $0.20 annualized dividend and a yield of 2.46%. The ex-dividend date is Friday, March 14th. Leggett & Platt’s payout ratio is currently -5.36%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on LEG. Truist Financial cut their price objective on Leggett & Platt from $13.00 to $11.00 and set a “hold” rating for the company in a research report on Wednesday, January 29th. The Goldman Sachs Group cut their price objective on Leggett & Platt from $14.00 to $12.00 and set a “neutral” rating for the company in a research report on Tuesday, January 14th.

Leggett & Platt Profile

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.