Seven Six Capital Management LLC Sells 84,700 Shares of Leggett & Platt, Incorporated $LEG

Seven Six Capital Management LLC decreased its stake in shares of Leggett & Platt, Incorporated (NYSE:LEG) by 12.5% during the 4th quarter, Holdings Channel reports. The institutional investor owned 594,001 shares of the company’s stock after selling 84,700 shares during the period. Leggett & Platt makes up 6.6% of Seven Six Capital Management LLC’s holdings, making the stock its 4th biggest holding. Seven Six Capital Management LLC’s holdings in Leggett & Platt were worth $6,534,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its position in Leggett & Platt by 1.5% during the 4th quarter. Vanguard Group Inc. now owns 18,990,042 shares of the company’s stock worth $208,890,000 after buying an additional 282,940 shares in the last quarter. Geode Capital Management LLC lifted its position in Leggett & Platt by 6.1% during the 4th quarter. Geode Capital Management LLC now owns 3,173,733 shares of the company’s stock worth $34,917,000 after buying an additional 183,218 shares in the last quarter. Invenomic Capital Management LP lifted its position in Leggett & Platt by 44.1% during the 3rd quarter. Invenomic Capital Management LP now owns 2,344,306 shares of the company’s stock worth $20,817,000 after buying an additional 717,079 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in Leggett & Platt by 4.9% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,123,623 shares of the company’s stock valued at $23,360,000 after purchasing an additional 98,430 shares during the period. Finally, Dimensional Fund Advisors LP lifted its position in Leggett & Platt by 0.6% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,016,519 shares of the company’s stock valued at $22,181,000 after purchasing an additional 12,763 shares during the period. Institutional investors and hedge funds own 64.23% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have issued reports on LEG. Weiss Ratings upgraded shares of Leggett & Platt from a “hold (c-)” rating to a “hold (c)” rating in a research report on Friday, May 15th. Truist Financial cut their target price on shares of Leggett & Platt from $13.00 to $11.00 and set a “hold” rating on the stock in a research report on Friday, May 8th. Zacks Research downgraded shares of Leggett & Platt from a “hold” rating to a “strong sell” rating in a research report on Thursday, May 14th. Finally, Wall Street Zen downgraded shares of Leggett & Platt from a “buy” rating to a “hold” rating in a research report on Saturday, February 21st. Four investment analysts have rated the stock with a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Reduce” and a consensus target price of $11.33.

Leggett & Platt Stock Performance

Leggett & Platt stock opened at $10.86 on Wednesday. The company has a current ratio of 2.33, a quick ratio of 1.45 and a debt-to-equity ratio of 1.44. Leggett & Platt, Incorporated has a 1 year low of $7.86 and a 1 year high of $13.00. The company has a market cap of $1.48 billion, a PE ratio of 6.74 and a beta of 0.74. The company’s 50-day moving average is $10.43 and its two-hundred day moving average is $11.00.

Leggett & Platt (NYSE:LEG) last announced its quarterly earnings results on Thursday, May 7th. The company reported $0.15 earnings per share for the quarter, missing analysts’ consensus estimates of $0.26 by ($0.11). The firm had revenue of $918.20 million during the quarter, compared to analyst estimates of $946.79 million. Leggett & Platt had a net margin of 5.69% and a return on equity of 12.62%. The business’s revenue was down 10.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.24 earnings per share. Equities analysts anticipate that Leggett & Platt, Incorporated will post 0.9 earnings per share for the current year.

Leggett & Platt Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 15th. Investors of record on Monday, June 15th will be given a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.8%. The ex-dividend date is Monday, June 15th. Leggett & Platt’s dividend payout ratio (DPR) is currently 12.42%.

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.