Maryland State Retirement & Pension System Has $506,000 Stock Position in Leggett & Platt, Incorporated (NYSE:LEG)

Maryland State Retirement & Pension System lessened its stake in Leggett & Platt, Incorporated (NYSE:LEG) by 5.6% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 52,666 shares of the company’s stock after selling 3,101 shares during the quarter. Maryland State Retirement & Pension System’s holdings in Leggett & Platt were worth $506,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Moors & Cabot Inc. acquired a new stake in Leggett & Platt in the third quarter valued at $210,000. Intech Investment Management LLC acquired a new stake in Leggett & Platt in the 3rd quarter valued at about $302,000. Landscape Capital Management L.L.C. bought a new position in Leggett & Platt during the third quarter worth about $369,000. Cerity Partners LLC increased its position in Leggett & Platt by 158.2% during 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 during the last quarter. Finally, Qsemble Capital Management LP bought a new stake in Leggett & Platt in the third quarter valued at approximately $371,000. 64.23% of the stock is owned by institutional investors.

Leggett & Platt Price Performance

Shares of NYSE LEG opened at $8.57 on Tuesday. The business’s 50 day moving average is $9.63 and its 200-day moving average is $11.09. The firm has a market cap of $1.15 billion, a P/E ratio of -2.30 and a beta of 1.11. Leggett & Platt, Incorporated has a 1-year low of $7.92 and a 1-year high of $19.33. The company has a current ratio of 2.00, a quick ratio of 1.14 and a debt-to-equity ratio of 2.70.

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

Leggett & Platt Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Friday, March 14th will be given a dividend of $0.05 per share. The ex-dividend date is Friday, March 14th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 2.34%. Leggett & Platt’s payout ratio is presently -5.36%.

Wall Street Analyst Weigh In

Several brokerages have recently commented on LEG. The Goldman Sachs Group reduced their target price on Leggett & Platt from $14.00 to $12.00 and set a “neutral” rating for the company in a research note on Tuesday, January 14th. Truist Financial dropped their price objective 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 Company 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.