RBF Capital LLC Sells 59,999 Shares of Leggett & Platt, Incorporated $LEG

RBF Capital LLC cut its stake in Leggett & Platt, Incorporated (NYSE:LEG) by 10.7% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 500,000 shares of the company’s stock after selling 59,999 shares during the quarter. RBF Capital LLC’s holdings in Leggett & Platt were worth $4,940,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in the stock. Motiv8 Investments LLC purchased a new stake in shares of Leggett & Platt during the 4th quarter worth $34,000. Palisade Asset Management LLC bought a new position in Leggett & Platt in the third quarter worth about $29,000. Hantz Financial Services Inc. lifted its position in shares of Leggett & Platt by 32.0% during the fourth quarter. Hantz Financial Services Inc. now owns 3,231 shares of the company’s stock valued at $36,000 after buying an additional 783 shares during the last quarter. Advisory Services Network LLC purchased a new stake in shares of Leggett & Platt during the third quarter valued at about $51,000. Finally, Kingdom Financial Group LLC. bought a new stake in shares of Leggett & Platt in the 4th quarter valued at about $66,000. 64.23% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the stock. Weiss Ratings raised shares of Leggett & Platt from a “hold (c-)” rating to a “hold (c)” rating in a research report on Friday, May 15th. Zacks Research upgraded shares of Leggett & Platt from a “strong sell” rating to a “hold” rating in a research note on Monday, July 20th. Finally, Truist Financial cut their price target on shares of Leggett & Platt from $13.00 to $11.00 and set a “hold” rating on the stock in a report on Friday, May 8th. Five investment analysts have rated the stock with a Hold rating, According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $11.33.

Leggett & Platt Trading Down 4.3%

NYSE:LEG opened at $10.28 on Thursday. Leggett & Platt, Incorporated has a 12 month low of $7.86 and a 12 month high of $13.00. The firm has a fifty day simple moving average of $10.79 and a 200-day simple moving average of $10.98. 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 company has a market capitalization of $1.40 billion, a P/E ratio of 6.38 and a beta of 0.71.

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

Leggett & Platt Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, July 15th. Shareholders of record on Monday, June 15th were paid a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a yield of 1.9%. The ex-dividend date was Monday, June 15th. Leggett & Platt’s payout ratio is presently 12.42%.

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.