Leggett & Platt (NYSE:LEG) Hits New 52-Week Low – Should You Sell?

Leggett & Platt, Incorporated (NYSE:LEG) shares reached a new 52-week low on Monday . The stock traded as low as $7.74 and last traded at $7.83, with a volume of 200219 shares changing hands. The stock had previously closed at $7.98.

Analysts Set New Price Targets

Several analysts have commented on LEG shares. The Goldman Sachs Group lowered their price objective on shares of 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 lowered their price target on shares of Leggett & Platt from $13.00 to $11.00 and set a “hold” rating on the stock in a report on Wednesday, January 29th.

Leggett & Platt Stock Down 0.8 %

The firm has a market capitalization of $1.06 billion, a P/E ratio of -2.10 and a beta of 1.11. The company has a debt-to-equity ratio of 2.70, a quick ratio of 1.14 and a current ratio of 2.00. The stock has a 50 day moving average of $9.31 and a 200-day moving average of $10.93.

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

Leggett & Platt Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Friday, March 14th will be paid 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 2.55%. Leggett & Platt’s payout ratio is -5.36%.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in LEG. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Leggett & Platt in the third quarter valued at approximately $29,000. Point72 Hong Kong Ltd purchased a new stake in Leggett & Platt in the 3rd quarter worth approximately $37,000. SRS Capital Advisors Inc. boosted its holdings in Leggett & Platt by 555.8% in the 4th quarter. SRS Capital Advisors Inc. now owns 3,102 shares of the company’s stock valued at $30,000 after purchasing an additional 2,629 shares during the period. SBI Securities Co. Ltd. purchased a new position in shares of Leggett & Platt during the 4th quarter valued at $50,000. Finally, KBC Group NV increased its holdings in shares of Leggett & Platt by 74.5% in the fourth quarter. KBC Group NV now owns 7,028 shares of the company’s stock worth $67,000 after purchasing an additional 3,000 shares during the period. Hedge funds and other institutional investors own 64.23% of the company’s stock.

About Leggett & Platt

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.