A&I Financial Services LLC Invests $547,000 in Leggett & Platt, Incorporated $LEG

Key Points

• A&I Financial Services LLC made a new investment in Leggett & Platt, acquiring 61,302 shares valued at approximately $547,000.
• Several institutional investors, including Millennium Management LLC and Canada Pension Plan Investment Board, significantly increased their holdings in Leggett & Platt during the first quarter.
• The average target price for Leggett & Platt shares has been lowered to $9.67 by analysts, with Piper Sandler issuing a "neutral" rating and Zacks Research downgraded it to "strong sell."

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.

Several other institutional investors also recently bought and sold shares of the company. SeaCrest Wealth Management LLC acquired a new stake in shares of Leggett & Platt in the second quarter worth $89,000. Parallel Advisors LLC lifted its stake in Leggett & Platt by 385.3% in the second quarter. Parallel Advisors LLC now owns 11,229 shares of the company's stock valued at $100,000 after buying an additional 8,915 shares during the last quarter. State of Wyoming bought a new stake in shares of Leggett & Platt during the first quarter valued at about $89,000. Banco Bilbao Vizcaya Argentaria S.A. bought a new stake in Leggett & Platt in the first quarter worth about $102,000. Finally, Janney Montgomery Scott LLC purchased a new position in Leggett & Platt in the 1st quarter worth about $107,000. 64.23% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on LEG. Wall Street Zen lowered Leggett & Platt from a "buy" rating to a "hold" rating in a report on Saturday, August 2nd. Zacks Research lowered Leggett & Platt from a "hold" rating to a "strong sell" rating in a research note on Monday, August 18th. Finally, Piper Sandler reissued a "neutral" rating and issued a $9.00 target price (down previously from $10.00) on shares of Leggett & Platt in a research note on Monday, August 4th. Three analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of "Reduce" and a consensus target price of $9.67.

Leggett & Platt Trading Down 0.1%

Shares of NYSE:LEG traded down $0.01 during trading hours on Tuesday, hitting $9.17. 767,563 shares of the company's stock traded hands, compared to its average volume of 2,395,037. The company has a debt-to-equity ratio of 2.09, a current ratio of 2.17 and a quick ratio of 1.36. The firm has a market capitalization of $1.24 billion, a P/E ratio of 8.90 and a beta of 0.70. The business has a fifty day moving average price of $9.53 and a 200-day moving average price of $8.94. Leggett & Platt, Incorporated has a 1 year low of $6.47 and a 1 year high of $14.23.

Leggett & Platt (NYSE:LEG - Get Free Report) last issued its quarterly earnings results 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 business had revenue of $1.06 billion for the quarter, compared to the consensus estimate of $1.06 billion. During the same period in the prior year, the firm posted $0.29 earnings per share. The business's quarterly 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. Equities analysts expect that Leggett & Platt, Incorporated will post 1.14 earnings per share for the current year.

Leggett & Platt Announces Dividend

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