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

Congress Wealth Management LLC DE cut its holdings in shares of Leggett & Platt, Incorporated (NYSE:LEG) by 67.5% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 48,776 shares of the company’s stock after selling 101,141 shares during the period. Congress Wealth Management LLC DE’s holdings in Leggett & Platt were worth $468,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in LEG. Intech Investment Management LLC bought a new position in Leggett & Platt in the 3rd quarter worth $302,000. Cerity Partners LLC raised its stake in Leggett & Platt by 158.2% in the third quarter. Cerity Partners LLC now owns 83,402 shares of the company’s stock worth $1,136,000 after buying an additional 51,106 shares in the last quarter. FMR LLC lifted its holdings in Leggett & Platt by 3,264.5% in the third quarter. FMR LLC now owns 692,884 shares of the company’s stock worth $9,437,000 after buying an additional 672,290 shares during the period. Brooklyn Investment Group bought a new stake in Leggett & Platt during the 3rd quarter valued at approximately $44,000. Finally, Glenmede Trust Co. NA grew its holdings in shares of Leggett & Platt by 34.3% during the 3rd quarter. Glenmede Trust Co. NA now owns 15,949 shares of the company’s stock worth $217,000 after acquiring an additional 4,074 shares during the period. Institutional investors own 64.23% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the company. The Goldman Sachs Group dropped their price target on Leggett & Platt from $14.00 to $12.00 and set a “neutral” rating on the stock in a research report on Tuesday, January 14th. Truist Financial reduced 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 Wednesday, January 29th.

Leggett & Platt Stock Performance

Leggett & Platt stock opened at $7.98 on Friday. Leggett & Platt, Incorporated has a twelve month low of $7.92 and a twelve month high of $19.33. The company has a quick ratio of 1.14, a current ratio of 2.00 and a debt-to-equity ratio of 2.70. The company has a market capitalization of $1.07 billion, a P/E ratio of -2.14 and a beta of 1.11. The stock’s 50 day moving average is $9.43 and its 200 day moving average is $11.00.

Leggett & Platt (NYSE:LEG) last issued its quarterly earnings results on Thursday, February 13th. The company reported $0.21 earnings per share for the quarter, meeting the consensus estimate of $0.21. The firm had revenue of $1.06 billion during the quarter, compared to the consensus estimate of $1.03 billion. Leggett & Platt had a positive return on equity of 17.09% and a negative net margin of 11.67%. On average, equities research analysts predict that Leggett & Platt, Incorporated will post 1.14 earnings per share for the current fiscal year.

Leggett & Platt Dividend Announcement

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

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.