Leggett & Platt, Incorporated $LEG Shares Sold by Seven Six Capital Management LLC

Seven Six Capital Management LLC decreased its position in shares of Leggett & Platt, Incorporated (NYSE:LEG) by 23.1% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 456,501 shares of the company’s stock after selling 137,500 shares during the quarter. Leggett & Platt comprises approximately 4.8% of Seven Six Capital Management LLC’s investment portfolio, making the stock its 9th largest position. Seven Six Capital Management LLC owned approximately 0.33% of Leggett & Platt worth $4,510,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Kentucky Retirement Systems acquired a new position in Leggett & Platt during the 1st quarter valued at about $115,000. Amundi raised its stake in Leggett & Platt by 11.3% in the 1st quarter. Amundi now owns 24,274 shares of the company’s stock valued at $240,000 after acquiring an additional 2,472 shares during the period. California State Teachers Retirement System boosted its holdings in Leggett & Platt by 33.1% in the 1st quarter. California State Teachers Retirement System now owns 164,811 shares of the company’s stock worth $1,628,000 after buying an additional 40,952 shares during the period. Empowered Funds LLC lifted its holdings in Leggett & Platt by 50.7% during the 1st quarter. Empowered Funds LLC now owns 1,083,983 shares of the company’s stock worth $10,710,000 after purchasing an additional 364,544 shares in the last quarter. Finally, Quantinno Capital Management LP boosted its holdings in Leggett & Platt by 22.7% in the 1st quarter. Quantinno Capital Management LP now owns 3,023,884 shares of the company’s stock valued at $29,876,000 after purchasing an additional 559,868 shares during the period. 64.23% of the stock is owned by institutional investors.

Analyst Ratings Changes

LEG has been the subject of a number of research reports. Weiss Ratings upgraded Leggett & Platt from a “hold (c-)” rating to a “hold (c)” rating in a report on Friday, May 15th. Zacks Research raised shares of Leggett & Platt from a “strong sell” rating to a “hold” rating in a research report on Monday, July 20th. Finally, Truist Financial reduced their price objective on shares of Leggett & Platt from $13.00 to $11.00 and set a “hold” rating for the company in a research note on Friday, May 8th. Five investment analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, Leggett & Platt has an average rating of “Hold” and a consensus price target of $11.33.

Leggett & Platt Trading Down 4.3%

Shares of LEG stock opened at $10.28 on Thursday. The stock has a market capitalization of $1.40 billion, a price-to-earnings ratio of 6.38 and a beta of 0.71. Leggett & Platt, Incorporated has a 12-month low of $7.86 and a 12-month high of $13.00. The stock’s 50-day moving average price is $10.79 and its 200-day moving average price is $10.98. 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 (NYSE:LEG) last posted its 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). Leggett & Platt had a net margin of 5.69% and a return on equity of 12.62%. The business had revenue of $918.20 million during the quarter, compared to analysts’ expectations of $946.79 million. During the same period last year, the business posted $0.24 earnings per share. The company’s revenue for the quarter was down 10.2% compared to the same quarter last year. Equities research analysts predict that Leggett & Platt, Incorporated will post 0.9 EPS for the current fiscal year.

Leggett & Platt Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 15th. Shareholders of record on Monday, June 15th were given a dividend of $0.05 per share. The ex-dividend date was Monday, June 15th. This represents a $0.20 dividend on an annualized basis and a yield of 1.9%. Leggett & Platt’s dividend payout ratio is 12.42%.

About Leggett & Platt

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.