Leggett & Platt (NYSE:LEG) Sets New 52-Week Low – Time to Sell?

Leggett & Platt, Incorporated (NYSE:LEG) hit a new 52-week low on Wednesday . The company traded as low as $6.49 and last traded at $6.50, with a volume of 815890 shares. The stock had previously closed at $6.67.

Analyst Ratings Changes

A number of analysts recently commented on LEG shares. The Goldman Sachs Group decreased their price target on Leggett & Platt from $14.00 to $12.00 and set a “neutral” rating for the company in a research report on Tuesday, January 14th. Piper Sandler reiterated a “neutral” rating and set a $9.00 target price (down previously from $12.00) on shares of Leggett & Platt in a research report on Friday, April 11th. Finally, Truist Financial reduced 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 note on Wednesday, January 29th.

Leggett & Platt Price Performance

The stock has a market capitalization of $883.86 million, a PE ratio of -1.76 and a beta of 0.98. The firm’s 50 day simple moving average is $8.49 and its 200 day simple moving average is $10.45. 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 released its earnings results on Thursday, February 13th. The company reported $0.21 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.21. The company had revenue of $1.06 billion during the quarter, compared to analyst estimates of $1.03 billion. Leggett & Platt had a positive return on equity of 17.09% and a negative net margin of 11.67%. As a group, equities analysts forecast that Leggett & Platt, Incorporated will post 1.14 EPS for the current fiscal year.

Leggett & Platt Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Friday, March 14th were given a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a yield of 3.05%. The ex-dividend date of this dividend was Friday, March 14th. Leggett & Platt’s payout ratio is -5.36%.

Institutional Investors Weigh In On Leggett & Platt

Large investors have recently made changes to their positions in the business. SRS Capital Advisors Inc. increased its position in Leggett & Platt by 555.8% during the 4th quarter. SRS Capital Advisors Inc. now owns 3,102 shares of the company’s stock valued at $30,000 after purchasing an additional 2,629 shares during the period. SBI Securities Co. Ltd. bought a new stake in Leggett & Platt during the 4th quarter valued at approximately $50,000. KBC Group NV raised its position in shares of Leggett & Platt by 74.5% in the 4th quarter. KBC Group NV now owns 7,028 shares of the company’s stock worth $67,000 after acquiring an additional 3,000 shares in the last quarter. Sterling Capital Management LLC lifted its stake in shares of Leggett & Platt by 17.1% in the 4th quarter. Sterling Capital Management LLC now owns 7,972 shares of the company’s stock valued at $77,000 after purchasing an additional 1,163 shares during the period. Finally, Blue Trust Inc. boosted its position in shares of Leggett & Platt by 461.6% during 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 in the last quarter. 64.23% of the stock is currently owned by institutional investors.

Leggett & Platt Company 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.