Signaturefd LLC Lowers Holdings in Leggett & Platt, Incorporated (NYSE:LEG)

Signaturefd LLC lowered its stake in shares of Leggett & Platt, Incorporated (NYSE:LEG) by 47.1% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 7,824 shares of the company’s stock after selling 6,979 shares during the period. Signaturefd LLC’s holdings in Leggett & Platt were worth $75,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also modified their holdings of LEG. Point72 Asia Singapore Pte. Ltd. acquired a new stake in Leggett & Platt during the third quarter worth about $29,000. SRS Capital Advisors Inc. increased its holdings in shares of 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 in the last quarter. Point72 Hong Kong Ltd acquired a new position in shares of Leggett & Platt in the 3rd quarter valued at $37,000. Brooklyn Investment Group purchased a new stake in Leggett & Platt during the third quarter worth $44,000. Finally, SBI Securities Co. Ltd. purchased a new stake in Leggett & Platt during the fourth quarter worth $50,000. Institutional investors and hedge funds own 64.23% of the company’s stock.

Leggett & Platt Stock Up 4.2 %

Shares of NYSE LEG opened at $8.57 on Tuesday. The firm has a market cap of $1.15 billion, a price-to-earnings ratio of -2.30 and a beta of 1.11. The company’s 50-day simple moving average is $9.63 and its 200-day simple moving average is $11.09. The company has a quick ratio of 1.14, a current ratio of 2.00 and a debt-to-equity ratio of 2.70. Leggett & Platt, Incorporated has a 52-week low of $7.92 and a 52-week high of $19.33.

Leggett & Platt (NYSE:LEG) last posted its quarterly earnings data on Thursday, February 13th. The company reported $0.21 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.21. Leggett & Platt had a positive return on equity of 17.09% and a negative net margin of 11.67%. The company had revenue of $1.06 billion for the quarter, compared to analysts’ expectations of $1.03 billion. Equities analysts predict that Leggett & Platt, Incorporated will post 1.14 EPS for the current fiscal year.

Leggett & Platt Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Friday, March 14th will be paid a $0.05 dividend. This represents a $0.20 annualized dividend and a yield of 2.34%. The ex-dividend date of this dividend is Friday, March 14th. Leggett & Platt’s dividend payout ratio is currently -5.36%.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on LEG. The Goldman Sachs Group decreased their price objective on shares of Leggett & Platt from $14.00 to $12.00 and set a “neutral” rating for the company in a research report on Tuesday, January 14th. Truist Financial lowered their price target on Leggett & Platt from $13.00 to $11.00 and set a “hold” rating on the stock in a research report on Wednesday, January 29th.

About Leggett & Platt

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.