Congress Wealth Management LLC DE Sells 101,141 Shares of Leggett & Platt, Incorporated (NYSE:LEG)

Congress Wealth Management LLC DE reduced its position in Leggett & Platt, Incorporated (NYSE:LEG) by 67.5% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 48,776 shares of the company’s stock after selling 101,141 shares during the quarter. Congress Wealth Management LLC DE’s holdings in Leggett & Platt were worth $468,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of LEG. Wellington Management Group LLP purchased a new position in shares of Leggett & Platt during the 3rd quarter valued at $15,735,000. Invenomic Capital Management LP increased its stake in Leggett & Platt by 384.1% in the 3rd quarter. Invenomic Capital Management LP now owns 921,472 shares of the company’s stock worth $12,550,000 after acquiring an additional 731,132 shares during the last quarter. Vanguard Group Inc. raised its holdings in shares of Leggett & Platt by 4.9% in the 4th quarter. Vanguard Group Inc. now owns 15,478,476 shares of the company’s stock valued at $148,593,000 after acquiring an additional 722,024 shares in the last quarter. FMR LLC boosted its position in shares of Leggett & Platt by 3,264.5% during the 3rd quarter. FMR LLC now owns 692,884 shares of the company’s stock valued at $9,437,000 after acquiring an additional 672,290 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. grew its holdings in shares of Leggett & Platt by 79.9% during the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 540,503 shares of the company’s stock worth $5,189,000 after purchasing an additional 240,108 shares in the last quarter. Hedge funds and other institutional investors own 64.23% of the company’s stock.

Leggett & Platt Stock Down 2.7 %

Shares of NYSE LEG opened at $7.98 on Friday. The stock has a market capitalization of $1.07 billion, a P/E ratio of -2.14 and a beta of 1.11. Leggett & Platt, Incorporated has a one year low of $7.92 and a one year high of $19.33. The firm’s 50 day simple moving average is $9.43 and its two-hundred day simple moving average is $11.00. The company has a debt-to-equity ratio of 2.70, a current ratio of 2.00 and a quick ratio of 1.14.

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

Leggett & Platt Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Friday, March 14th will be issued a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a yield of 2.51%. The ex-dividend date of this dividend is Friday, March 14th. Leggett & Platt’s dividend payout ratio is presently -5.36%.

Wall Street Analysts Forecast Growth

LEG has been the subject of several research analyst reports. The Goldman Sachs Group dropped their target price on shares of Leggett & Platt from $14.00 to $12.00 and set a “neutral” rating for the company in a research report on Tuesday, January 14th. Truist Financial cut their target price on shares of Leggett & Platt from $13.00 to $11.00 and set a “hold” rating for the company in a research report on Wednesday, January 29th.

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.