Leggett & Platt, Incorporated $LEG Stock Position Lessened by South Dakota Investment Council

South Dakota Investment Council trimmed its holdings in shares of Leggett & Platt, Incorporated (NYSE:LEG) by 13.3% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 659,448 shares of the company’s stock after selling 101,400 shares during the period. South Dakota Investment Council owned approximately 0.49% of Leggett & Platt worth $5,856,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of LEG. Quent Capital LLC bought a new position in Leggett & Platt in the 3rd quarter valued at about $34,000. Nisa Investment Advisors LLC acquired a new stake in shares of Leggett & Platt in the 2nd quarter worth approximately $76,000. HM Payson & Co. bought a new position in shares of Leggett & Platt in the third quarter valued at approximately $89,000. Captrust Financial Advisors acquired a new position in shares of Leggett & Platt during the second quarter valued at approximately $91,000. Finally, Aaron Wealth Advisors LLC bought a new stake in Leggett & Platt during the third quarter worth approximately $92,000. 64.23% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several brokerages have recently issued reports on LEG. Zacks Research cut Leggett & Platt from a “strong-buy” rating to a “hold” rating in a research report on Friday, December 5th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Leggett & Platt in a research note on Monday, December 29th. Wall Street Zen cut shares of Leggett & Platt from a “buy” rating to a “hold” rating in a research report on Saturday, February 21st. Finally, Piper Sandler raised their price objective on shares of Leggett & Platt from $10.00 to $12.00 and gave the company a “neutral” rating in a research report on Thursday, December 11th. Five research analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $11.67.

Leggett & Platt Trading Down 1.8%

Shares of NYSE LEG opened at $11.29 on Wednesday. The company has a quick ratio of 1.45, a current ratio of 2.25 and a debt-to-equity ratio of 1.46. Leggett & Platt, Incorporated has a 12 month low of $6.47 and a 12 month high of $13.00. The company has a market cap of $1.53 billion, a price-to-earnings ratio of 6.68 and a beta of 0.71. The business has a fifty day simple moving average of $11.88 and a 200-day simple moving average of $10.43.

Leggett & Platt (NYSE:LEG) last posted its quarterly earnings data on Wednesday, February 11th. The company reported $0.22 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.22. Leggett & Platt had a return on equity of 15.00% and a net margin of 5.80%.The firm had revenue of $938.60 million for the quarter, compared to the consensus estimate of $938.74 million. During the same quarter in the previous year, the company earned $0.21 EPS. The business’s revenue for the quarter was down 11.2% compared to the same quarter last year. Sell-side analysts predict that Leggett & Platt, Incorporated will post 1.14 EPS for the current year.

Leggett & Platt Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 15th. Investors of record on Friday, March 13th will be paid a $0.05 dividend. The ex-dividend date of this dividend is Friday, March 13th. This represents a $0.20 dividend on an annualized basis and a yield of 1.8%. Leggett & Platt’s dividend payout ratio (DPR) is currently 11.83%.

About Leggett & Platt

Leggett & Platt, Inc is a diversified manufacturer specializing in the design, engineering and production of a wide range of engineered components and products. The company’s offerings span several end markets, including residential bedding, commercial and residential furniture, automotive seating and interiors, aerospace applications and industrial products. By integrating product design with proprietary manufacturing processes, Leggett & Platt serves as a key supplier to both original equipment manufacturers and aftermarket distributors.

The company’s core product lines include coil springs and support systems for mattresses and furniture, adjustable bed mechanisms, engineered components such as extruded and formed metal products, and specialty foam and bedding products.