PNC Financial Services Group Inc. Trims Stock Position in Leggett & Platt, Incorporated (NYSE:LEG)

PNC Financial Services Group Inc. lessened its holdings in Leggett & Platt, Incorporated (NYSE:LEG) by 6.7% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 63,975 shares of the company’s stock after selling 4,580 shares during the period. PNC Financial Services Group Inc.’s holdings in Leggett & Platt were worth $614,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently modified their holdings of LEG. GSA Capital Partners LLP purchased a new stake in shares of Leggett & Platt in the third quarter valued at about $456,000. Quest Partners LLC lifted its stake in shares of Leggett & Platt by 4,511,800.0% during the third quarter. Quest Partners LLC now owns 45,119 shares of the company’s stock valued at $615,000 after buying an additional 45,118 shares during the period. Moors & Cabot Inc. purchased a new position in shares of Leggett & Platt during the third quarter valued at approximately $210,000. Intech Investment Management LLC purchased a new position in shares of Leggett & Platt during the third quarter valued at approximately $302,000. Finally, Landscape Capital Management L.L.C. purchased a new position in shares of Leggett & Platt during the third quarter valued at approximately $369,000. Hedge funds and other institutional investors own 64.23% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently issued reports on LEG shares. The Goldman Sachs Group reduced their price objective on shares of Leggett & Platt from $14.00 to $12.00 and set a “neutral” rating on the stock in a research note on Tuesday, January 14th. Truist Financial reduced their price objective on shares of Leggett & Platt from $13.00 to $11.00 and set a “hold” rating on the stock in a research note on Wednesday, January 29th.

Leggett & Platt Stock Performance

NYSE:LEG opened at $8.10 on Wednesday. The company has a quick ratio of 1.14, a current ratio of 2.00 and a debt-to-equity ratio of 2.70. The company has a market cap of $1.09 billion, a P/E ratio of -2.17 and a beta of 1.11. Leggett & Platt, Incorporated has a fifty-two week low of $7.92 and a fifty-two week high of $19.33. The firm’s 50 day moving average is $9.75 and its two-hundred day moving average is $11.20.

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

Leggett & Platt Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Friday, March 14th will be paid a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a yield of 2.47%. The ex-dividend date of this dividend is Friday, March 14th. Leggett & Platt’s dividend payout ratio is currently -5.36%.

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.