Leggett & Platt, Incorporated (NYSE:LEG) Shares Sold by Arbor Wealth Advisors LLC

Arbor Wealth Advisors LLC lessened its position in Leggett & Platt, Incorporated (NYSE:LEG) by 2.7% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 59,703 shares of the company’s stock after selling 1,685 shares during the period. Leggett & Platt makes up 0.5% of Arbor Wealth Advisors LLC’s portfolio, making the stock its 27th biggest position. Arbor Wealth Advisors LLC’s holdings in Leggett & Platt were worth $573,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the company. Allspring Global Investments Holdings LLC increased its position in Leggett & Platt by 76.3% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 2,043 shares of the company’s stock valued at $28,000 after acquiring an additional 884 shares during the period. Point72 Asia Singapore Pte. Ltd. acquired a new position in Leggett & Platt during the third quarter worth about $29,000. Point72 Hong Kong Ltd acquired a new stake in Leggett & Platt in the 3rd quarter valued at about $37,000. nVerses Capital LLC bought a new position in shares of Leggett & Platt during the 3rd quarter valued at about $41,000. Finally, Brooklyn Investment Group bought a new stake in shares of Leggett & Platt in the 3rd quarter worth approximately $44,000. 64.23% of the stock is currently owned by institutional investors.

Leggett & Platt Stock Up 5.0 %

Shares of Leggett & Platt stock opened at $10.17 on Tuesday. Leggett & Platt, Incorporated has a 1 year low of $9.18 and a 1 year high of $25.29. The company has a market cap of $1.37 billion, a P/E ratio of -1.69 and a beta of 1.11. The company has a current ratio of 1.48, a quick ratio of 0.84 and a debt-to-equity ratio of 2.13. The stock has a 50-day moving average price of $11.15 and a 200 day moving average price of $12.05.

Leggett & Platt (NYSE:LEG) last announced its quarterly earnings data on Monday, October 28th. The company reported $0.32 EPS for the quarter, missing analysts’ consensus estimates of $0.33 by ($0.01). Leggett & Platt had a negative net margin of 18.53% and a positive return on equity of 14.99%. The company had revenue of $1.10 billion for the quarter, compared to analysts’ expectations of $1.10 billion. During the same period in the previous year, the firm posted $0.36 earnings per share. The business’s revenue for the quarter was down 6.3% on a year-over-year basis. As a group, analysts expect that Leggett & Platt, Incorporated will post 1.05 EPS for the current fiscal year.

Leggett & Platt Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Friday, December 13th will be paid a $0.05 dividend. The ex-dividend date of this dividend is Friday, December 13th. This represents a $0.20 dividend on an annualized basis and a yield of 1.97%. Leggett & Platt’s dividend payout ratio (DPR) is currently -3.33%.

Analysts Set New Price Targets

Separately, Piper Sandler upgraded shares of Leggett & Platt from an “underweight” rating to a “neutral” rating and lifted their price target for the stock from $11.00 to $13.00 in a research report on Wednesday, October 30th. Four investment analysts have rated the stock with a hold rating, According to data from MarketBeat.com, Leggett & Platt has a consensus rating of “Hold” and an average price target of $12.67.

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.