New York State Teachers Retirement System Has $741,000 Stock Holdings in Leggett & Platt, Incorporated $LEG

New York State Teachers Retirement System cut its stake in shares of Leggett & Platt, Incorporated (NYSE:LEG) by 51.8% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 74,956 shares of the company’s stock after selling 80,546 shares during the period. New York State Teachers Retirement System’s holdings in Leggett & Platt were worth $741,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the company. Royal Bank of Canada increased its holdings in Leggett & Platt by 59.5% in the 1st quarter. Royal Bank of Canada now owns 47,054 shares of the company’s stock worth $372,000 after purchasing an additional 17,561 shares in the last quarter. Jones Financial Companies Lllp grew its holdings in shares of Leggett & Platt by 8.4% during the first 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. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in shares of Leggett & Platt by 3.0% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 454,096 shares of the company’s stock worth $3,592,000 after purchasing an additional 13,187 shares during the last quarter. Jane Street Group LLC increased its stake in shares of Leggett & Platt by 36.3% in the first quarter. Jane Street Group LLC now owns 1,175,452 shares of the company’s stock valued at $9,298,000 after buying an additional 312,840 shares during the period. Finally, Acadian Asset Management LLC increased its stake in shares of Leggett & Platt by 113.5% in the first quarter. Acadian Asset Management LLC now owns 109,638 shares of the company’s stock valued at $866,000 after buying an additional 58,292 shares during the period. 64.23% of the stock is currently owned by institutional investors.

Leggett & Platt Trading Down 2.3%

Shares of LEG stock opened at $10.69 on Tuesday. The stock has a market cap of $1.46 billion, a price-to-earnings ratio of 6.64 and a beta of 0.71. The stock has a 50-day moving average of $10.55 and a 200-day moving average of $11.01. 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, Incorporated has a 1-year low of $7.86 and a 1-year high of $13.00.

Leggett & Platt (NYSE:LEG) last issued its quarterly earnings data on Thursday, May 7th. The company reported $0.15 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.26 by ($0.11). The company had revenue of $918.20 million for the quarter, compared to the consensus estimate of $946.79 million. Leggett & Platt had a return on equity of 12.62% and a net margin of 5.69%.Leggett & Platt’s revenue was down 10.2% compared to the same quarter last year. During the same quarter last year, the business earned $0.24 earnings per share. On average, equities research analysts forecast that Leggett & Platt, Incorporated will post 0.9 earnings per share for the current year.

Leggett & Platt Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 15th. Shareholders of record on Monday, June 15th will be issued a dividend of $0.05 per share. The ex-dividend date is Monday, June 15th. This represents a $0.20 annualized dividend and a yield of 1.9%. Leggett & Platt’s dividend payout ratio (DPR) is presently 12.42%.

Analysts Set New Price Targets

Several research firms recently commented on LEG. Weiss Ratings upgraded shares of Leggett & Platt from a “hold (c-)” rating to a “hold (c)” rating in a research report on Friday, May 15th. Truist Financial decreased their price target on shares of Leggett & Platt from $13.00 to $11.00 and set a “hold” rating for the company in a research report on Friday, May 8th. Finally, Zacks Research downgraded shares of Leggett & Platt from a “hold” rating to a “strong sell” rating in a research note on Thursday, May 14th. Four analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Reduce” and a consensus price target of $11.33.

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.