Axa S.A. Reduces Position in Leggett & Platt, Incorporated (NYSE:LEG)

Axa S.A. decreased its holdings in shares of Leggett & Platt, Incorporated (NYSE:LEG) by 36.0% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 18,338 shares of the company’s stock after selling 10,314 shares during the quarter. Axa S.A.’s holdings in Leggett & Platt were worth $176,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. SRS Capital Advisors Inc. lifted its position in shares of Leggett & Platt by 555.8% during the fourth quarter. SRS Capital Advisors Inc. now owns 3,102 shares of the company’s stock worth $30,000 after purchasing an additional 2,629 shares during the last quarter. SBI Securities Co. Ltd. bought a new position in Leggett & Platt in the 4th quarter worth about $50,000. KBC Group NV increased its position in shares of 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 acquiring an additional 3,000 shares during the period. Sterling Capital Management LLC raised its stake in shares of Leggett & Platt by 17.1% during the fourth quarter. Sterling Capital Management LLC now owns 7,972 shares of the company’s stock valued at $77,000 after acquiring an additional 1,163 shares in the last quarter. Finally, Blue Trust Inc. boosted its holdings in shares of Leggett & Platt by 461.6% in the fourth quarter. Blue Trust Inc. now owns 9,688 shares of the company’s stock valued at $93,000 after purchasing an additional 7,963 shares during the period. 64.23% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the company. Truist Financial decreased their target price 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 increased their target price on shares of Leggett & Platt from $8.00 to $9.00 and gave the stock a “neutral” rating in a report on Wednesday, April 30th. Finally, Piper Sandler restated a “neutral” rating and issued a $9.00 price target (down previously from $12.00) on shares of Leggett & Platt in a report on Friday, April 11th.

Leggett & Platt Price Performance

LEG opened at $9.43 on Friday. The firm has a market capitalization of $1.27 billion, a PE ratio of -2.53 and a beta of 0.75. The business’s 50-day moving average is $7.97 and its two-hundred day moving average is $9.84. Leggett & Platt, Incorporated has a 1 year low of $6.48 and a 1 year high of $14.24. The company has a debt-to-equity ratio of 2.70, a current ratio of 2.00 and a quick ratio of 1.14.

Leggett & Platt (NYSE:LEG) last announced its earnings results on Monday, April 28th. The company reported $0.24 earnings per share for the quarter, beating the consensus estimate of $0.23 by $0.01. The company had revenue of $1.02 billion during the quarter, compared to the consensus estimate of $1.02 billion. Leggett & Platt had a negative net margin of 11.67% and a positive return on equity of 17.09%. Leggett & Platt’s revenue was down 6.8% compared to the same quarter last year. During the same period last year, the firm earned $0.23 earnings per share. Research analysts anticipate that Leggett & Platt, Incorporated will post 1.14 earnings per share for the current fiscal year.

Leggett & Platt Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Friday, June 13th will be issued a $0.05 dividend. The ex-dividend date is Friday, June 13th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 2.12%. Leggett & Platt’s dividend payout ratio is currently -5.35%.

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.