55,000 Shares in Leggett & Platt, Incorporated $LEG Acquired by PARK CIRCLE Co

Key Points

• PARK CIRCLE Co acquired 55,000 shares of Leggett & Platt, valued at approximately $491,000, in the 2nd quarter, marking a significant investment in the company.
• Leggett & Platt reported a quarterly earnings per share (EPS) of $0.30, beating analyst expectations by a small margin, while revenue for the quarter was down 6.3% year-over-year.
• The company announced a quarterly dividend of $0.05 per share, which translates to an annualized dividend yield of 2.2%, indicating ongoing returns for shareholders.

PARK CIRCLE Co purchased a new stake in Leggett & Platt, Incorporated (NYSE:LEG - Free Report) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 55,000 shares of the company's stock, valued at approximately $491,000.

Other hedge funds also recently modified their holdings of the company. Vanguard Group Inc. raised its position in Leggett & Platt by 7.1% during the 1st quarter. Vanguard Group Inc. now owns 16,583,732 shares of the company's stock worth $131,177,000 after purchasing an additional 1,105,256 shares during the last quarter. Millennium Management LLC increased its position in Leggett & Platt by 784.7% during the 1st quarter. Millennium Management LLC now owns 4,605,416 shares of the company's stock valued at $36,429,000 after purchasing an additional 4,084,866 shares during the period. Invenomic Capital Management LP raised its holdings in Leggett & Platt by 31.3% during the 1st quarter. Invenomic Capital Management LP now owns 1,992,319 shares of the company's stock worth $15,759,000 after purchasing an additional 475,163 shares during the last quarter. Trexquant Investment LP lifted its position in shares of Leggett & Platt by 31.8% in the 1st quarter. Trexquant Investment LP now owns 1,551,964 shares of the company's stock worth $12,276,000 after purchasing an additional 374,073 shares during the period. Finally, Cubist Systematic Strategies LLC boosted its stake 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. Institutional investors and hedge funds own 64.23% of the company's stock.

Leggett & Platt Stock Up 2.1%

LEG stock opened at $8.90 on Thursday. The stock's 50 day simple moving average is $9.24 and its 200 day simple moving average is $8.99. The company has a market cap of $1.20 billion, a P/E ratio of 8.64 and a beta of 0.72. The company has a debt-to-equity ratio of 2.09, a quick ratio of 1.36 and a current ratio of 2.17. Leggett & Platt, Incorporated has a fifty-two week low of $6.47 and a fifty-two week high of $13.62.

Leggett & Platt (NYSE:LEG - Get Free Report) last announced its quarterly earnings data on Thursday, July 31st. The company reported $0.30 EPS for the quarter, beating analysts' consensus estimates of $0.29 by $0.01. Leggett & Platt had a return on equity of 19.42% and a net margin of 3.36%.The firm had revenue of $1.06 billion during the quarter, compared to analysts' expectations of $1.06 billion. During the same quarter last year, the firm posted $0.29 earnings per share. The company's revenue for the quarter was down 6.3% compared to the same quarter last year. Leggett & Platt has set its FY 2025 guidance at 1.000-1.200 EPS. On average, research analysts expect that Leggett & Platt, Incorporated will post 1.14 earnings per share for the current fiscal year.

Leggett & Platt Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 15th. Shareholders of record on Monday, September 15th will be paid a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a dividend yield of 2.2%. The ex-dividend date of this dividend is Monday, September 15th. Leggett & Platt's dividend payout ratio (DPR) is 19.42%.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the stock. Zacks Research lowered shares of Leggett & Platt from a "hold" rating to a "strong sell" rating in a report on Monday, August 18th. Wall Street Zen lowered Leggett & Platt from a "buy" rating to a "hold" rating in a research report on Saturday, August 2nd. Weiss Ratings restated a "sell (d)" rating on shares of Leggett & Platt in a research report on Wednesday. Finally, Piper Sandler reiterated a "neutral" rating and issued a $9.00 target price (down from $10.00) on shares of Leggett & Platt in a report on Monday, August 4th. Three investment analysts have rated the stock with a Hold rating and two have issued a Sell rating to the company's stock. According to MarketBeat.com, Leggett & Platt presently has a consensus rating of "Reduce" and a consensus target price of $9.67.

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.

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