Oak Thistle LLC Sells 17,806 Shares of Leggett & Platt, Incorporated (NYSE:LEG)

Oak Thistle LLC decreased its holdings in shares of Leggett & Platt, Incorporated (NYSE:LEG) by 59.5% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 12,121 shares of the company’s stock after selling 17,806 shares during the period. Oak Thistle LLC’s holdings in Leggett & Platt were worth $232,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of LEG. Insight Folios Inc grew its stake in Leggett & Platt by 5.2% during the fourth quarter. Insight Folios Inc now owns 9,374 shares of the company’s stock worth $245,000 after buying an additional 460 shares during the last quarter. Federated Hermes Inc. raised its position in Leggett & Platt by 2.8% in the 3rd quarter. Federated Hermes Inc. now owns 18,641 shares of the company’s stock valued at $474,000 after purchasing an additional 499 shares during the last quarter. Treasurer of the State of North Carolina grew its holdings in shares of Leggett & Platt by 1.0% during the fourth quarter. Treasurer of the State of North Carolina now owns 58,754 shares of the company’s stock worth $1,538,000 after purchasing an additional 570 shares during the last quarter. GPS Wealth Strategies Group LLC increased its stake in shares of Leggett & Platt by 15.1% in the fourth quarter. GPS Wealth Strategies Group LLC now owns 4,624 shares of the company’s stock valued at $121,000 after buying an additional 605 shares in the last quarter. Finally, TFO Wealth Partners LLC raised its holdings in shares of Leggett & Platt by 10,833.3% in the fourth quarter. TFO Wealth Partners LLC now owns 656 shares of the company’s stock valued at $157,000 after buying an additional 650 shares during the last quarter. 64.23% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, CFO Benjamin Michael Burns acquired 3,850 shares of the business’s stock in a transaction that occurred on Thursday, June 6th. The shares were acquired at an average cost of $12.20 per share, with a total value of $46,970.00. Following the transaction, the chief financial officer now owns 81,362 shares of the company’s stock, valued at approximately $992,616.40. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CFO Benjamin Michael Burns bought 3,850 shares of the business’s stock in a transaction on Thursday, June 6th. The shares were purchased at an average price of $12.20 per share, for a total transaction of $46,970.00. Following the purchase, the chief financial officer now owns 81,362 shares of the company’s stock, valued at approximately $992,616.40. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Srikanth Padmanabhan purchased 10,000 shares of the firm’s stock in a transaction dated Wednesday, June 5th. The shares were acquired at an average cost of $12.06 per share, with a total value of $120,600.00. Following the completion of the purchase, the director now directly owns 38,623 shares in the company, valued at $465,793.38. The disclosure for this purchase can be found here. In the last three months, insiders acquired 65,635 shares of company stock valued at $773,447. 1.92% of the stock is owned by corporate insiders.

Leggett & Platt Trading Down 0.4 %

Shares of NYSE:LEG traded down $0.05 during mid-day trading on Monday, reaching $11.42. The stock had a trading volume of 2,528,385 shares, compared to its average volume of 2,732,893. The firm has a 50 day simple moving average of $12.63 and a two-hundred day simple moving average of $18.52. Leggett & Platt, Incorporated has a twelve month low of $10.11 and a twelve month high of $31.14. The firm has a market cap of $1.53 billion, a PE ratio of -9.84 and a beta of 1.08. The company has a current ratio of 1.57, a quick ratio of 0.89 and a debt-to-equity ratio of 1.37.

Leggett & Platt (NYSE:LEG) last announced its quarterly earnings results on Tuesday, April 30th. The company reported $0.23 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.24 by ($0.01). The firm had revenue of $1.10 billion during the quarter, compared to analyst estimates of $1.11 billion. Leggett & Platt had a negative net margin of 3.44% and a positive return on equity of 11.31%. Leggett & Platt’s quarterly revenue was down 9.6% on a year-over-year basis. During the same period last year, the firm earned $0.39 EPS. On average, research analysts predict that Leggett & Platt, Incorporated will post 1.13 EPS for the current fiscal year.

Leggett & Platt Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 15th. Investors of record on Friday, June 14th will be given a $0.05 dividend. The ex-dividend date of this dividend is Friday, June 14th. This represents a $0.20 annualized dividend and a dividend yield of 1.75%. Leggett & Platt’s dividend payout ratio is presently -17.24%.

Analyst Ratings Changes

A number of equities research analysts have commented on the stock. Truist Financial decreased their price objective on shares of Leggett & Platt from $13.00 to $11.00 and set a “hold” rating on the stock in a report on Thursday. Piper Sandler lowered their price target on shares of Leggett & Platt from $16.00 to $13.00 and set an “underweight” rating for the company in a report on Wednesday, May 1st. StockNews.com upgraded Leggett & Platt from a “sell” rating to a “hold” rating in a research report on Friday. TheStreet downgraded Leggett & Platt from a “c” rating to a “d+” rating in a research report on Monday, March 11th. Finally, The Goldman Sachs Group decreased their price target on Leggett & Platt from $20.00 to $14.00 and set a “neutral” rating on the stock in a report on Thursday, May 2nd. One analyst has rated the stock with a sell rating and three have assigned a hold rating to the company’s stock. According to data from MarketBeat.com, Leggett & Platt currently has a consensus rating of “Hold” and an average price target of $12.67.

About Leggett & Platt

Leggett & Platt, Incorporated designs, manufactures, and sells engineered components and products in the United States, Europe, China, Canada, Mexico, and internationally. It operates through three segments: Bedding Products; Specialized Products; and Furniture, Flooring & Textile Products. The company offers steel rods, drawn wires, specialty foam chemicals and additives, innersprings, specialty foam for use in bedding and furniture, private label finished mattresses, ready-to-assemble mattress foundations, static foundations, and adjustable beds, as well as machines for producing innersprings; industrial sewing and quilting machines; mattress-packaging; and glue-drying equipment for various industrial users of steel rod and wire, manufacturers of finished bedding, bedding brands and mattress retailers, E-commerce retailers, big box retailers, department stores, and home improvement centers.