Advisors Asset Management Inc. Has $1.21 Million Holdings in Leggett & Platt, Incorporated $LEG

Key Points

• Advisors Asset Management Inc. reduced its stake in Leggett & Platt by 35.9%, now owning approximately 0.11% of the company.
• Leggett & Platt shares experienced a decline of 0.5%, trading at $9.93, with a market cap of $1.34 billion and a PE ratio of 9.64.
• The company declared a quarterly dividend of $0.05 per share, yielding 2.0%, with a dividend payout ratio of 19.42%.

Advisors Asset Management Inc. lowered its stake in Leggett & Platt, Incorporated (NYSE:LEG - Free Report) by 35.9% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 152,565 shares of the company's stock after selling 85,357 shares during the quarter. Advisors Asset Management Inc. owned approximately 0.11% of Leggett & Platt worth $1,207,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Oppenheimer & Co. Inc. increased its position in shares of Leggett & Platt by 8.9% in the first quarter. Oppenheimer & Co. Inc. now owns 24,501 shares of the company's stock valued at $194,000 after acquiring an additional 2,000 shares during the last quarter. Deutsche Bank AG increased its position in shares of Leggett & Platt by 3.2% in the fourth quarter. Deutsche Bank AG now owns 67,319 shares of the company's stock valued at $646,000 after acquiring an additional 2,109 shares during the last quarter. Investors Research Corp increased its position in shares of Leggett & Platt by 10.5% in the first quarter. Investors Research Corp now owns 28,322 shares of the company's stock valued at $224,000 after acquiring an additional 2,687 shares during the last quarter. Captrust Financial Advisors increased its position in shares of Leggett & Platt by 27.5% in the fourth quarter. Captrust Financial Advisors now owns 13,521 shares of the company's stock valued at $130,000 after acquiring an additional 2,915 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD increased its position in shares of Leggett & Platt by 7.3% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 88,936 shares of the company's stock valued at $854,000 after acquiring an additional 6,015 shares during the last quarter. Institutional investors and hedge funds own 64.23% of the company's stock.

Analysts Set New Price Targets

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

Leggett & Platt Stock Performance

Shares of NYSE:LEG traded down $0.30 during trading on Friday, reaching $9.62. 1,586,511 shares of the stock were exchanged, compared to its average volume of 1,636,631. Leggett & Platt, Incorporated has a 12 month low of $6.47 and a 12 month high of $14.23. The firm has a market cap of $1.30 billion, a PE ratio of 9.34 and a beta of 0.70. The stock has a 50-day moving average price of $9.60 and a 200-day moving average price of $8.92. The company has a current ratio of 2.17, a quick ratio of 1.36 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 earnings per share (EPS) for the quarter, topping 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 company had revenue of $1.06 billion during the quarter, compared to analysts' expectations of $1.06 billion. During the same quarter in the previous year, the company posted $0.29 earnings per share. The business's revenue was down 6.3% on a year-over-year basis. Leggett & Platt has set its FY 2025 guidance at 1.000-1.200 EPS. Research analysts expect 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. This represents a $0.20 annualized dividend and a dividend yield of 2.1%. The ex-dividend date is Monday, September 15th. Leggett & Platt's payout ratio is 19.42%.

Leggett & Platt Profile

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.