SG Americas Securities LLC Has $485,000 Stock Position in Leggett & Platt, Incorporated $LEG

SG Americas Securities LLC reduced its holdings in Leggett & Platt, Incorporated (NYSE:LEG) by 86.7% during the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 49,135 shares of the company’s stock after selling 321,508 shares during the period. SG Americas Securities LLC’s holdings in Leggett & Platt were worth $485,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently modified their holdings of LEG. Motiv8 Investments LLC acquired a new stake in shares of Leggett & Platt in the fourth quarter worth $34,000. Palisade Asset Management LLC acquired a new position in Leggett & Platt during the 3rd quarter valued at $29,000. Hantz Financial Services Inc. raised its stake in Leggett & Platt by 32.0% during the 4th quarter. Hantz Financial Services Inc. now owns 3,231 shares of the company’s stock valued at $36,000 after purchasing an additional 783 shares during the last quarter. Advisory Services Network LLC acquired a new position in Leggett & Platt during the 3rd quarter valued at $51,000. Finally, Kingdom Financial Group LLC. bought a new stake in Leggett & Platt in the 4th quarter valued at $66,000. 64.23% of the stock is currently owned by institutional investors and hedge funds.

Leggett & Platt Stock Performance

LEG opened at $11.12 on Thursday. The stock’s 50 day simple moving average is $10.55 and its 200-day simple moving average is $11.01. The company has a current ratio of 2.33, a quick ratio of 1.45 and a debt-to-equity ratio of 1.44. The stock has a market cap of $1.52 billion, a PE ratio of 6.90 and a beta of 0.71. Leggett & Platt, Incorporated has a 1 year low of $7.86 and a 1 year high of $13.00.

Leggett & Platt (NYSE:LEG) last issued its earnings results on Thursday, May 7th. The company reported $0.15 EPS for the quarter, missing the consensus estimate of $0.26 by ($0.11). Leggett & Platt had a return on equity of 12.62% and a net margin of 5.69%.The firm had revenue of $918.20 million during the quarter, compared to the consensus estimate of $946.79 million. During the same period last year, the business earned $0.24 earnings per share. The firm’s revenue for the quarter was down 10.2% compared to the same quarter last year. Sell-side analysts forecast that Leggett & Platt, Incorporated will post 0.9 EPS for the current year.

Leggett & Platt Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 15th. Stockholders of record on Monday, June 15th will be paid a $0.05 dividend. The ex-dividend date is Monday, June 15th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.8%. Leggett & Platt’s dividend payout ratio is currently 12.42%.

Analyst Ratings Changes

LEG has been the topic of several research analyst reports. Zacks Research lowered shares of Leggett & Platt from a “hold” rating to a “strong sell” rating in a research report on Thursday, May 14th. Truist Financial cut their price objective on shares of Leggett & Platt from $13.00 to $11.00 and set a “hold” rating for the company in a research report on Friday, May 8th. Finally, Weiss Ratings upgraded shares of Leggett & Platt from a “hold (c-)” rating to a “hold (c)” rating in a research note on Friday, May 15th. Four analysts have rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Reduce” and an average price target of $11.33.

Leggett & Platt Profile

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.