Leggett & Platt, Incorporated (NYSE:LEG) Short Interest Update
by Amy Steele · The Cerbat GemLeggett & Platt, Incorporated (NYSE:LEG – Get Free Report) saw a large growth in short interest in February. As of February 27th, there was short interest totaling 8,724,370 shares, a growth of 59.0% from the February 12th total of 5,488,558 shares. Approximately 6.6% of the shares of the stock are sold short. Based on an average daily trading volume, of 1,870,402 shares, the days-to-cover ratio is presently 4.7 days. Based on an average daily trading volume, of 1,870,402 shares, the days-to-cover ratio is presently 4.7 days. Approximately 6.6% of the shares of the stock are sold short.
Institutional Investors Weigh In On Leggett & Platt
A number of institutional investors have recently added to or reduced their stakes in the business. Hantz Financial Services Inc. raised its stake in shares of Leggett & Platt by 32.0% during the fourth quarter. Hantz Financial Services Inc. now owns 3,231 shares of the company’s stock valued at $36,000 after acquiring an additional 783 shares during the last quarter. Optimize Financial Inc increased its holdings in Leggett & Platt by 1.5% in the fourth quarter. Optimize Financial Inc now owns 60,507 shares of the company’s stock valued at $666,000 after purchasing an additional 868 shares during the period. Jones Financial Companies Lllp raised its position in Leggett & Platt by 8.4% during the 1st quarter. Jones Financial Companies Lllp now owns 14,661 shares of the company’s stock worth $116,000 after purchasing an additional 1,132 shares during the last quarter. Nisa Investment Advisors LLC raised its position in Leggett & Platt by 12.6% during the 4th quarter. Nisa Investment Advisors LLC now owns 10,271 shares of the company’s stock worth $113,000 after purchasing an additional 1,152 shares during the last quarter. Finally, State of Alaska Department of Revenue lifted its holdings in Leggett & Platt by 1.8% during the 4th quarter. State of Alaska Department of Revenue now owns 76,948 shares of the company’s stock worth $845,000 after buying an additional 1,338 shares during the period. 64.23% of the stock is owned by institutional investors.
Wall Street Analysts Forecast Growth
A number of brokerages recently issued reports on LEG. Wall Street Zen cut shares of Leggett & Platt from a “buy” rating to a “hold” rating in a research note on Saturday, February 21st. Zacks Research lowered Leggett & Platt from a “strong-buy” rating to a “hold” rating in a research note on Friday, December 5th. Weiss Ratings reissued a “hold (c-)” rating on shares of Leggett & Platt in a report on Monday, December 29th. Finally, Piper Sandler raised their price objective on Leggett & Platt from $10.00 to $12.00 and gave the company a “neutral” rating in a research note on Thursday, December 11th. Five investment analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $11.67.
Get Our Latest Analysis on LEG
Leggett & Platt Price Performance
Shares of LEG traded down $0.04 during trading hours on Friday, reaching $10.18. The stock had a trading volume of 1,229,139 shares, compared to its average volume of 1,569,365. The company has a debt-to-equity ratio of 1.46, a quick ratio of 1.45 and a current ratio of 2.25. Leggett & Platt has a 12 month low of $6.47 and a 12 month high of $13.00. The stock has a market capitalization of $1.38 billion, a PE ratio of 6.02 and a beta of 0.71. The company’s 50-day moving average is $11.82 and its two-hundred day moving average is $10.49.
Leggett & Platt (NYSE:LEG – Get Free Report) last issued its quarterly earnings data on Wednesday, February 11th. The company reported $0.22 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.22. The business had revenue of $938.60 million for the quarter, compared to analyst estimates of $938.74 million. Leggett & Platt had a return on equity of 15.00% and a net margin of 5.80%.Leggett & Platt’s quarterly revenue was down 11.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.21 EPS. Research analysts expect that Leggett & Platt will post 1.14 EPS for the current year.
Leggett & Platt Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 15th. Investors of record on Friday, March 13th will be issued a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a yield of 2.0%. The ex-dividend date is Friday, March 13th. Leggett & Platt’s dividend payout ratio (DPR) is 11.83%.
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.