Leggett & Platt (NYSE:LEG) Stock Price Up 6.7% – What’s Next?

Shares of Leggett & Platt, Incorporated (NYSE:LEG) traded up 6.7% during trading on Wednesday . The stock traded as high as $8.40 and last traded at $8.39. 2,079,470 shares traded hands during mid-day trading, a decline of 14% from the average session volume of 2,429,236 shares. The stock had previously closed at $7.86.

Analyst Upgrades and Downgrades

LEG has been the topic of a number of recent analyst reports. The Goldman Sachs Group dropped their price target on shares of Leggett & Platt from $14.00 to $12.00 and set a “neutral” rating on the stock in a research report on Tuesday, January 14th. Truist Financial dropped their target price on shares of Leggett & Platt from $13.00 to $11.00 and set a “hold” rating on the stock in a research report on Wednesday, January 29th.

Leggett & Platt Stock Down 3.7 %

The stock has a 50 day moving average price of $9.12 and a 200 day moving average price of $10.85. The company has a debt-to-equity ratio of 2.70, a quick ratio of 1.14 and a current ratio of 2.00. The company has a market capitalization of $964.02 million, a P/E ratio of -1.92 and a beta of 1.11.

Leggett & Platt (NYSE:LEG) last announced its quarterly earnings data on Thursday, February 13th. The company reported $0.21 EPS for the quarter, hitting the consensus estimate of $0.21. Leggett & Platt had a negative net margin of 11.67% and a positive return on equity of 17.09%. The business had revenue of $1.06 billion for the quarter, compared to analyst estimates of $1.03 billion. Equities research analysts forecast that Leggett & Platt, Incorporated will post 1.14 earnings per share for the current fiscal year.

Leggett & Platt Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Friday, March 14th will be paid a $0.05 dividend. The ex-dividend date is Friday, March 14th. This represents a $0.20 annualized dividend and a yield of 2.80%. Leggett & Platt’s payout ratio is -5.36%.

Institutional Trading of Leggett & Platt

A number of large investors have recently bought and sold shares of LEG. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Leggett & Platt during the 3rd quarter worth $29,000. SRS Capital Advisors Inc. lifted its holdings in Leggett & Platt by 555.8% during the fourth quarter. SRS Capital Advisors Inc. now owns 3,102 shares of the company’s stock valued at $30,000 after purchasing an additional 2,629 shares during the last quarter. SBI Securities Co. Ltd. purchased a new stake in Leggett & Platt during the fourth quarter valued at about $50,000. KBC Group NV boosted its position in Leggett & Platt by 74.5% during the fourth quarter. KBC Group NV now owns 7,028 shares of the company’s stock worth $67,000 after purchasing an additional 3,000 shares during the period. Finally, Sterling Capital Management LLC increased its stake in shares of Leggett & Platt by 17.1% in the fourth quarter. Sterling Capital Management LLC now owns 7,972 shares of the company’s stock worth $77,000 after purchasing an additional 1,163 shares in the last quarter. 64.23% of the stock is owned by hedge funds and other institutional investors.

Leggett & Platt Company 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.