UMB Bank n.a. Sells 8,324 Shares of Leggett & Platt, Incorporated (NYSE:LEG)

UMB Bank n.a. decreased its holdings in shares of Leggett & Platt, Incorporated (NYSE:LEG) by 19.9% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 33,574 shares of the company’s stock after selling 8,324 shares during the quarter. UMB Bank n.a.’s holdings in Leggett & Platt were worth $266,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the business. CIBC Asset Management Inc boosted its stake in Leggett & Platt by 7.7% during the 4th quarter. CIBC Asset Management Inc now owns 13,986 shares of the company’s stock valued at $134,000 after purchasing an additional 1,001 shares during the period. Sterling Capital Management LLC lifted its position 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 worth $77,000 after acquiring an additional 1,163 shares during the period. Swiss National Bank lifted its position in shares of Leggett & Platt by 0.8% in the 4th quarter. Swiss National Bank now owns 263,900 shares of the company’s stock worth $2,533,000 after acquiring an additional 2,100 shares during the period. Deutsche Bank AG lifted its position in shares of Leggett & Platt by 3.2% in the 4th quarter. Deutsche Bank AG now owns 67,319 shares of the company’s stock worth $646,000 after acquiring an additional 2,109 shares during the period. Finally, SRS Capital Advisors Inc. lifted its position in shares of Leggett & Platt by 555.8% in the 4th quarter. SRS Capital Advisors Inc. now owns 3,102 shares of the company’s stock worth $30,000 after acquiring an additional 2,629 shares during the period. Institutional investors own 64.23% of the company’s stock.

Leggett & Platt Price Performance

Shares of LEG stock opened at $9.61 on Wednesday. The company has a current ratio of 2.00, a quick ratio of 1.14 and a debt-to-equity ratio of 2.70. The company has a market capitalization of $1.30 billion, a P/E ratio of -2.58 and a beta of 0.75. Leggett & Platt, Incorporated has a 12 month low of $6.48 and a 12 month high of $14.24. The stock has a 50 day moving average of $8.40 and a two-hundred day moving average of $9.41.

Leggett & Platt (NYSE:LEG) last posted its earnings results on Monday, April 28th. The company reported $0.24 EPS for the quarter, topping the consensus estimate of $0.23 by $0.01. The business had revenue of $1.02 billion during the quarter, compared to the consensus estimate of $1.02 billion. Leggett & Platt had a positive return on equity of 17.09% and a negative net margin of 11.67%. Leggett & Platt’s revenue was down 6.8% on a year-over-year basis. During the same quarter last year, the company earned $0.23 EPS. As a group, equities analysts expect that Leggett & Platt, Incorporated will post 1.14 EPS for the current year.

Leggett & Platt Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Friday, June 13th will be given a dividend of $0.05 per share. The ex-dividend date is Friday, June 13th. This represents a $0.20 annualized dividend and a dividend yield of 2.08%. Leggett & Platt’s dividend payout ratio (DPR) is presently -5.35%.

Wall Street Analyst Weigh In

A number of analysts have commented on the company. Piper Sandler reiterated a “neutral” rating and issued a $9.00 price objective (down previously from $12.00) on shares of Leggett & Platt in a research report on Friday, April 11th. The Goldman Sachs Group raised their price objective on Leggett & Platt from $8.00 to $9.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 30th.

Leggett & Platt 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.