Arizona State Retirement System Has $974,000 Stake in Leggett & Platt, Incorporated (NYSE:LEG)

Arizona State Retirement System reduced its stake in Leggett & Platt, Incorporated (NYSE:LEG) by 1.8% in the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 37,234 shares of the company’s stock after selling 667 shares during the quarter. Arizona State Retirement System’s holdings in Leggett & Platt were worth $974,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in LEG. JPMorgan Chase & Co. lifted its holdings in Leggett & Platt by 0.6% in the 1st quarter. JPMorgan Chase & Co. now owns 254,903 shares of the company’s stock worth $8,871,000 after purchasing an additional 1,440 shares during the last quarter. American Century Companies Inc. lifted its holdings in Leggett & Platt by 11.5% in the 1st quarter. American Century Companies Inc. now owns 58,626 shares of the company’s stock worth $2,040,000 after purchasing an additional 6,030 shares during the last quarter. HighTower Advisors LLC lifted its holdings in Leggett & Platt by 174.1% in the 1st quarter. HighTower Advisors LLC now owns 42,660 shares of the company’s stock worth $1,482,000 after purchasing an additional 27,098 shares during the last quarter. Cetera Advisor Networks LLC lifted its holdings in Leggett & Platt by 5.2% in the 1st quarter. Cetera Advisor Networks LLC now owns 8,989 shares of the company’s stock worth $313,000 after purchasing an additional 443 shares during the last quarter. Finally, Citigroup Inc. lifted its holdings in Leggett & Platt by 34.2% in the 1st quarter. Citigroup Inc. now owns 81,162 shares of the company’s stock worth $2,825,000 after purchasing an additional 20,675 shares during the last quarter. 64.23% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the company. TheStreet lowered Leggett & Platt from a “c” rating to a “d+” rating in a report on Monday, March 11th. StockNews.com downgraded Leggett & Platt from a “hold” rating to a “sell” rating in a research report on Monday, March 11th. Finally, Truist Financial dropped their price target on Leggett & Platt from $18.00 to $16.00 and set a “hold” rating on the stock in a research report on Tuesday, March 26th. Two analysts have rated the stock with a sell rating and two have issued a hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $19.33.

Leggett & Platt Stock Performance

Shares of NYSE LEG opened at $17.31 on Wednesday. The company has a quick ratio of 0.84, a current ratio of 1.49 and a debt-to-equity ratio of 1.26. The business’s 50 day moving average is $19.59 and its two-hundred day moving average is $22.76. The company has a market cap of $2.31 billion, a P/E ratio of -17.30 and a beta of 1.17. Leggett & Platt, Incorporated has a 12 month low of $17.29 and a 12 month high of $33.50.

Leggett & Platt (NYSE:LEG) last released its quarterly earnings data on Friday, February 9th. The company reported $0.26 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.27 by ($0.01). The firm had revenue of $1.12 billion for the quarter, compared to the consensus estimate of $1.11 billion. Leggett & Platt had a negative net margin of 2.90% and a positive return on equity of 11.99%. The business’s revenue for the quarter was down 6.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.39 earnings per share. On average, equities analysts expect that Leggett & Platt, Incorporated will post 1.17 EPS for the current year.

Leggett & Platt Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Friday, March 15th were given a dividend of $0.46 per share. This represents a $1.84 dividend on an annualized basis and a dividend yield of 10.63%. The ex-dividend date was Thursday, March 14th. Leggett & Platt’s dividend payout ratio is presently -184.00%.

About Leggett & Platt

Leggett & Platt, Incorporated designs, manufactures, and sells engineered components and products in the United States, Europe, China, Canada, Mexico, and internationally. It operates through three segments: Bedding Products; Specialized Products; and Furniture, Flooring & Textile Products. The company offers steel rods, drawn wires, specialty foam chemicals and additives, innersprings, specialty foam for use in bedding and furniture, private label finished mattresses, ready-to-assemble mattress foundations, static foundations, and adjustable beds, as well as machines for producing innersprings; industrial sewing and quilting machines; mattress-packaging; and glue-drying equipment for various industrial users of steel rod and wire, manufacturers of finished bedding, bedding brands and mattress retailers, E-commerce retailers, big box retailers, department stores, and home improvement centers.