EP Wealth Advisors LLC Purchases New Shares in Leggett & Platt, Incorporated $LEG

EP Wealth Advisors LLC acquired a new stake in Leggett & Platt, Incorporated (NYSE:LEG - Free Report) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 32,947 shares of the company's stock, valued at approximately $261,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of LEG. Cubist Systematic Strategies LLC raised its position in shares of Leggett & Platt by 1,495.6% in the 1st quarter. Cubist Systematic Strategies LLC now owns 1,539,758 shares of the company's stock valued at $12,179,000 after purchasing an additional 1,443,257 shares during the last quarter. Vanguard Group Inc. raised its position in shares of Leggett & Platt by 7.1% in the 1st quarter. Vanguard Group Inc. now owns 16,583,732 shares of the company's stock valued at $131,177,000 after purchasing an additional 1,105,256 shares during the last quarter. Canada Pension Plan Investment Board raised its position in shares of Leggett & Platt by 15,000.0% in the 1st quarter. Canada Pension Plan Investment Board now owns 634,200 shares of the company's stock valued at $5,017,000 after purchasing an additional 630,000 shares during the last quarter. Seven Six Capital Management LLC purchased a new position in shares of Leggett & Platt in the 4th quarter valued at approximately $5,627,000. Finally, Point72 Asset Management L.P. purchased a new position in shares of Leggett & Platt in the 4th quarter valued at approximately $4,789,000. 64.23% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts recently weighed in on LEG shares. Wall Street Zen downgraded shares of Leggett & Platt from a "buy" rating to a "hold" rating in a report on Saturday, August 2nd. Piper Sandler reiterated a "neutral" rating and issued a $9.00 price target (down previously from $10.00) on shares of Leggett & Platt in a report on Monday, August 4th. Finally, Zacks Research downgraded shares of Leggett & Platt from a "hold" rating to a "strong sell" rating in a report on Monday, August 18th. Three investment analysts have rated the stock with a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Reduce" and an average price target of $9.67.

Leggett & Platt Stock Performance

Shares of NYSE LEG traded down $0.30 during midday trading on Friday, reaching $9.62. 1,586,511 shares of the stock were exchanged, compared to its average volume of 1,636,631. The firm has a market cap of $1.30 billion, a price-to-earnings ratio of 9.34 and a beta of 0.70. Leggett & Platt, Incorporated has a twelve month low of $6.47 and a twelve month high of $14.23. The firm has a 50-day simple moving average of $9.60 and a two-hundred day simple moving average of $8.92. The company has a quick ratio of 1.36, a current ratio of 2.17 and a debt-to-equity ratio of 2.09.

Leggett & Platt (NYSE:LEG - Get Free Report) last issued its quarterly earnings data on Thursday, July 31st. The company reported $0.30 EPS for the quarter, topping analysts' consensus estimates of $0.29 by $0.01. The business had revenue of $1.06 billion for the quarter, compared to analysts' expectations of $1.06 billion. Leggett & Platt had a net margin of 3.36% and a return on equity of 19.42%. The business's revenue was down 6.3% on a year-over-year basis. During the same quarter last year, the company earned $0.29 EPS. Leggett & Platt has set its FY 2025 guidance at 1.000-1.200 EPS. As a group, analysts anticipate that Leggett & Platt, Incorporated will post 1.14 EPS for the current fiscal year.

Leggett & Platt Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 15th. Investors of record on Monday, September 15th will be paid a $0.05 dividend. The ex-dividend date of this dividend is Monday, September 15th. This represents a $0.20 dividend on an annualized basis and a yield of 2.1%. Leggett & Platt's dividend payout ratio (DPR) is currently 19.42%.

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.