Resources Management Corp CT ADV Reduces Stake in Leggett & Platt, Incorporated (NYSE:LEG)

Resources Management Corp CT ADV reduced its position in Leggett & Platt, Incorporated (NYSE:LEGGet Rating) by 2.6% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 16,190 shares of the company’s stock after selling 430 shares during the period. Resources Management Corp CT ADV’s holdings in Leggett & Platt were worth $666,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. CI Investments Inc. increased its stake in Leggett & Platt by 6.5% in the 3rd quarter. CI Investments Inc. now owns 3,819 shares of the company’s stock valued at $171,000 after purchasing an additional 233 shares in the last quarter. ING Groep NV increased its stake in Leggett & Platt by 2.3% in the 3rd quarter. ING Groep NV now owns 11,191 shares of the company’s stock valued at $502,000 after purchasing an additional 248 shares in the last quarter. Captrust Financial Advisors increased its position in Leggett & Platt by 21.1% during the third quarter. Captrust Financial Advisors now owns 1,491 shares of the company’s stock worth $67,000 after buying an additional 260 shares in the last quarter. Sound Financial Strategies Group LLC increased its position in Leggett & Platt by 2.2% during the third quarter. Sound Financial Strategies Group LLC now owns 12,474 shares of the company’s stock worth $559,000 after buying an additional 265 shares in the last quarter. Finally, Fifth Third Bancorp increased its position in Leggett & Platt by 22.9% during the fourth quarter. Fifth Third Bancorp now owns 1,430 shares of the company’s stock worth $59,000 after buying an additional 266 shares in the last quarter. 71.97% of the stock is owned by hedge funds and other institutional investors.

In related news, Director Robert E. Brunner sold 6,076 shares of Leggett & Platt stock in a transaction on Thursday, February 17th. The stock was sold at an average price of $38.89, for a total value of $236,295.64. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 1.57% of the stock is currently owned by company insiders.

Several equities analysts have weighed in on LEG shares. StockNews.com started coverage on Leggett & Platt in a research report on Thursday, March 31st. They set a “hold” rating for the company. Raymond James dropped their price target on Leggett & Platt from $55.00 to $50.00 and set an “outperform” rating for the company in a research report on Wednesday, February 9th. Piper Sandler dropped their price target on Leggett & Platt from $43.00 to $38.00 and set a “neutral” rating for the company in a research report on Thursday, April 7th. Finally, TheStreet downgraded Leggett & Platt from a “b-” rating to a “c+” rating in a research report on Friday, March 11th. Two research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of $46.00.

Shares of NYSE:LEG traded down $0.07 during midday trading on Monday, reaching $35.80. The company’s stock had a trading volume of 23,347 shares, compared to its average volume of 1,422,151. The firm has a market cap of $4.79 billion, a price-to-earnings ratio of 12.20, a price-to-earnings-growth ratio of 1.33 and a beta of 1.42. The company has a quick ratio of 0.80, a current ratio of 1.55 and a debt-to-equity ratio of 1.09. Leggett & Platt, Incorporated has a 1 year low of $33.80 and a 1 year high of $59.16. The business has a 50 day moving average price of $36.75 and a 200 day moving average price of $40.47.

Leggett & Platt (NYSE:LEGGet Rating) last announced its quarterly earnings data on Monday, February 7th. The company reported $0.77 EPS for the quarter, beating the Zacks’ consensus estimate of $0.73 by $0.04. The business had revenue of $1.33 billion during the quarter, compared to the consensus estimate of $1.29 billion. Leggett & Platt had a return on equity of 24.51% and a net margin of 7.93%. The business’s revenue for the quarter was up 12.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.76 earnings per share. Sell-side analysts anticipate that Leggett & Platt, Incorporated will post 2.7 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, April 15th. Stockholders of record on Tuesday, March 15th were given a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a dividend yield of 4.69%. The ex-dividend date of this dividend was Monday, March 14th. Leggett & Platt’s dividend payout ratio is currently 57.14%.

Leggett & Platt Profile (Get Rating)

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, Flooring, Furniture & Textile, and Specialized Products. The Bedding Products segment supplies products and components for the home, including mattress springs and specialty foam, as well as adjustable beds, bedding machinery, steel rod, and drawn wire.

Featured Articles

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

Receive News & Ratings for Leggett & Platt Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Leggett & Platt and related companies with MarketBeat.com's FREE daily email newsletter.