A&I Financial Services LLC acquired a new position in shares of Leggett & Platt, Incorporated (NYSE:LEG - Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 61,302 shares of the company's stock, valued at approximately $547,000.
A number of other institutional investors have also modified their holdings of LEG. Millennium Management LLC increased its holdings in shares of Leggett & Platt by 784.7% in the 1st quarter. Millennium Management LLC now owns 4,605,416 shares of the company's stock valued at $36,429,000 after acquiring an additional 4,084,866 shares during the period. Cubist Systematic Strategies LLC increased its holdings 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 acquiring an additional 1,443,257 shares during the period. Vanguard Group Inc. increased its holdings 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 acquiring an additional 1,105,256 shares during the period. Canada Pension Plan Investment Board increased its holdings 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 acquiring an additional 630,000 shares during the period. Finally, Nuveen LLC acquired a new position in shares of Leggett & Platt in the 1st quarter valued at $3,929,000. 64.23% of the stock is owned by institutional investors and hedge funds.
Analysts Set New Price Targets
A number of research firms recently weighed in on LEG. Piper Sandler reiterated a "neutral" rating and issued a $9.00 price objective (down from $10.00) on shares of Leggett & Platt in a research report on Monday, August 4th. Wall Street Zen lowered shares of Leggett & Platt from a "buy" rating to a "hold" rating in a research report on Saturday, August 2nd. Finally, Zacks Research lowered shares of Leggett & Platt from a "hold" rating to a "strong sell" rating in a research report on Monday, August 18th. Three equities research analysts have rated the stock with a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Reduce" and an average target price of $9.67.
View Our Latest Report on LEG
Leggett & Platt Price Performance
Leggett & Platt stock opened at $9.38 on Friday. Leggett & Platt, Incorporated has a 52 week low of $6.47 and a 52 week high of $14.23. The company has a quick ratio of 1.36, a current ratio of 2.17 and a debt-to-equity ratio of 2.09. The firm's 50-day simple moving average is $9.55 and its 200 day simple moving average is $8.93. The firm has a market capitalization of $1.27 billion, a PE ratio of 9.11 and a beta of 0.70.
Leggett & Platt (NYSE:LEG - Get Free Report) last released its quarterly earnings data on Thursday, July 31st. The company reported $0.30 EPS for the quarter, topping the consensus estimate of $0.29 by $0.01. Leggett & Platt had a net margin of 3.36% and a return on equity of 19.42%. The business had revenue of $1.06 billion for the quarter, compared to analyst estimates of $1.06 billion. During the same period in the previous year, the firm earned $0.29 EPS. The business'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, equities research analysts predict that Leggett & Platt, Incorporated will post 1.14 EPS for the current fiscal year.
Leggett & Platt Announces Dividend
The company also recently announced 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 annualized dividend and a yield of 2.1%. Leggett & Platt's payout ratio is presently 19.42%.
Leggett & Platt Company Profile
(
Free Report)
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.
Further Reading
Want to see what other hedge funds are holding LEG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Leggett & Platt, Incorporated (NYSE:LEG - Free Report).
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