UBS Group AG Sells 73,238 Shares of Leggett & Platt, Incorporated $LEG

UBS Group AG decreased its holdings in Leggett & Platt, Incorporated (NYSE:LEG) by 9.9% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 669,117 shares of the company’s stock after selling 73,238 shares during the quarter. UBS Group AG owned 0.49% of Leggett & Platt worth $7,360,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of the business. Palisade Asset Management LLC acquired a new stake in Leggett & Platt during the third quarter worth about $29,000. Advisory Services Network LLC acquired a new position in shares of Leggett & Platt in the 3rd quarter valued at approximately $51,000. Captrust Financial Advisors bought a new stake in shares of Leggett & Platt during the 2nd quarter worth approximately $91,000. PDT Partners LLC bought a new stake in shares of Leggett & Platt during the 2nd quarter worth approximately $94,000. Finally, Freestone Grove Partners LP acquired a new stake in shares of Leggett & Platt during the 3rd quarter worth approximately $98,000. Institutional investors own 64.23% of the company’s stock.

Leggett & Platt Stock Performance

NYSE LEG opened at $9.31 on Tuesday. The company has a market capitalization of $1.27 billion, a price-to-earnings ratio of 5.78 and a beta of 0.75. The company has a quick ratio of 1.45, a current ratio of 2.33 and a debt-to-equity ratio of 1.44. Leggett & Platt, Incorporated has a twelve month low of $7.86 and a twelve month high of $13.00. The stock has a fifty day simple moving average of $10.37 and a 200 day simple moving average of $10.84.

Leggett & Platt (NYSE:LEG) last announced its earnings results on Thursday, May 7th. The company reported $0.15 EPS for the quarter, missing the consensus estimate of $0.26 by ($0.11). Leggett & Platt had a net margin of 5.69% and a return on equity of 12.62%. The company had revenue of $918.20 million during the quarter, compared to the consensus estimate of $946.79 million. During the same quarter in the previous year, the company earned $0.24 earnings per share. The business’s revenue was down 10.2% on a year-over-year basis. Sell-side analysts expect that Leggett & Platt, Incorporated will post 0.93 EPS for the current year.

Leggett & Platt Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, April 15th. Shareholders of record on Friday, March 13th were issued a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a dividend yield of 2.1%. The ex-dividend date was Friday, March 13th. Leggett & Platt’s dividend payout ratio is presently 12.42%.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the stock. Weiss Ratings raised shares of Leggett & Platt from a “hold (c-)” rating to a “hold (c)” rating in a research note on Friday. Wall Street Zen downgraded Leggett & Platt from a “buy” rating to a “hold” rating in a report on Saturday, February 21st. Truist Financial decreased their price target on Leggett & Platt from $13.00 to $11.00 and set a “hold” rating on the stock in a research note on Friday, May 8th. Finally, Zacks Research cut Leggett & Platt from a “hold” rating to a “strong sell” rating in a report on Thursday, May 14th. Four research analysts have rated the stock with a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, Leggett & Platt presently has an average rating of “Reduce” and a consensus price target of $11.33.

Leggett & Platt Company Profile

Leggett & Platt, Inc is a diversified manufacturer specializing in the design, engineering and production of a wide range of engineered components and products. The company’s offerings span several end markets, including residential bedding, commercial and residential furniture, automotive seating and interiors, aerospace applications and industrial products. By integrating product design with proprietary manufacturing processes, Leggett & Platt serves as a key supplier to both original equipment manufacturers and aftermarket distributors.

The company’s core product lines include coil springs and support systems for mattresses and furniture, adjustable bed mechanisms, engineered components such as extruded and formed metal products, and specialty foam and bedding products.