Entropy Technologies LP Sells 8,793 Shares of Leggett & Platt, Incorporated (NYSE:LEG)

Entropy Technologies LP cut its holdings in Leggett & Platt, Incorporated (NYSE:LEG) by 28.2% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 22,384 shares of the company’s stock after selling 8,793 shares during the period. Entropy Technologies LP’s holdings in Leggett & Platt were worth $305,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Swiss National Bank grew its stake in Leggett & Platt by 0.3% in the 1st quarter. Swiss National Bank now owns 263,300 shares of the company’s stock valued at $5,042,000 after purchasing an additional 900 shares during the period. Russell Investments Group Ltd. boosted its holdings in shares of Leggett & Platt by 8.4% in the 1st quarter. Russell Investments Group Ltd. now owns 350,876 shares of the company’s stock worth $6,719,000 after buying an additional 27,106 shares during the last quarter. State Board of Administration of Florida Retirement System grew its position in Leggett & Platt by 6.6% during the first quarter. State Board of Administration of Florida Retirement System now owns 149,692 shares of the company’s stock valued at $2,867,000 after buying an additional 9,254 shares during the period. Ontario Teachers Pension Plan Board increased its holdings in Leggett & Platt by 78.8% during the first quarter. Ontario Teachers Pension Plan Board now owns 65,994 shares of the company’s stock worth $1,264,000 after buying an additional 29,088 shares during the last quarter. Finally, MQS Management LLC raised its position in Leggett & Platt by 8.3% in the first quarter. MQS Management LLC now owns 13,366 shares of the company’s stock worth $256,000 after acquiring an additional 1,027 shares during the period. 64.23% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on LEG shares. Truist Financial raised their price target on shares of Leggett & Platt from $11.00 to $13.00 and gave the stock a “hold” rating in a research note on Monday, August 5th. Piper Sandler upgraded Leggett & Platt from an “underweight” rating to a “neutral” rating and boosted their target price for the company from $11.00 to $13.00 in a research note on Wednesday, October 30th. Finally, StockNews.com raised Leggett & Platt from a “sell” rating to a “hold” rating in a research report on Wednesday, August 28th. Four investment analysts have rated the stock with a hold rating, Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $12.67.

Leggett & Platt Stock Up 0.2 %

LEG opened at $11.82 on Friday. The company has a 50 day moving average of $12.71 and a 200 day moving average of $12.33. The company has a current ratio of 1.48, a quick ratio of 0.84 and a debt-to-equity ratio of 2.13. Leggett & Platt, Incorporated has a 12 month low of $10.11 and a 12 month high of $27.58. The company has a market cap of $1.59 billion, a PE ratio of -1.97 and a beta of 1.07.

Leggett & Platt (NYSE:LEG) last announced its quarterly earnings results on Monday, October 28th. The company reported $0.32 earnings per share for the quarter, missing the consensus estimate of $0.33 by ($0.01). The company had revenue of $1.10 billion during the quarter, compared to analysts’ expectations of $1.10 billion. Leggett & Platt had a negative net margin of 18.53% and a positive return on equity of 14.99%. Leggett & Platt’s revenue for the quarter was down 6.3% compared to the same quarter last year. During the same quarter last year, the firm posted $0.36 earnings per share. On average, sell-side analysts expect that Leggett & Platt, Incorporated will post 1.05 EPS for the current year.

Leggett & Platt Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Friday, December 13th will be issued a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.69%. The ex-dividend date of this dividend is Friday, December 13th. Leggett & Platt’s payout ratio is -3.33%.

About Leggett & Platt

Leggett & Platt, Incorporated designs, manufactures, and sells engineered components and products in the United States, Europe, China, Canada, Mexico, and internationally. It operates through three segments: Bedding Products; Specialized Products; and Furniture, Flooring & Textile Products. The company offers steel rods, drawn wires, specialty foam chemicals and additives, innersprings, specialty foam for use in bedding and furniture, private label finished mattresses, ready-to-assemble mattress foundations, static foundations, and adjustable beds, as well as machines for producing innersprings; industrial sewing and quilting machines; mattress-packaging; and glue-drying equipment for various industrial users of steel rod and wire, manufacturers of finished bedding, bedding brands and mattress retailers, E-commerce retailers, big box retailers, department stores, and home improvement centers.