Algert Global LLC Makes New $647,000 Investment in Leggett & Platt, Incorporated $LEG

Key Points

• Algert Global LLC has acquired a new position in Leggett & Platt, purchasing 81,838 shares valued at approximately $647,000, representing about 0.06% ownership of the company.
• Leggett & Platt reported a quarterly earnings per share of $0.30, exceeding analysts' estimates of $0.29, despite a 6.3% year-over-year drop in revenue to $1.06 billion.
• The company's quarterly dividend of $0.05, with an annualized yield of 2.1%, will be paid on October 15, with a record date of September 15.

Algert Global LLC purchased a new stake in Leggett & Platt, Incorporated (NYSE:LEG - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 81,838 shares of the company's stock, valued at approximately $647,000. Algert Global LLC owned 0.06% of Leggett & Platt at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Janney Montgomery Scott LLC bought a new stake in Leggett & Platt in the 1st quarter valued at $107,000. Coldstream Capital Management Inc. bought a new stake in Leggett & Platt in the 4th quarter valued at $111,000. Blueshift Asset Management LLC bought a new stake in Leggett & Platt in the 1st quarter valued at $128,000. Captrust Financial Advisors boosted its stake in Leggett & Platt by 27.5% in the 4th quarter. Captrust Financial Advisors now owns 13,521 shares of the company's stock valued at $130,000 after purchasing an additional 2,915 shares during the period. Finally, Susquehanna Fundamental Investments LLC bought a new stake in Leggett & Platt in the 4th quarter valued at $131,000. 64.23% of the stock is currently owned by institutional investors.

Leggett & Platt Price Performance

Shares of Leggett & Platt stock traded down $0.11 during trading on Friday, reaching $9.63. 1,510,407 shares of the company's stock were exchanged, compared to its average volume of 1,829,057. 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 1-year low of $6.47 and a 1-year high of $14.23. The company has a market cap of $1.30 billion, a P/E ratio of 9.34 and a beta of 0.70. The firm's 50-day moving average price is $9.53 and its 200 day moving average price is $8.93.

Leggett & Platt (NYSE:LEG - Get Free Report) last posted its quarterly earnings results on Thursday, July 31st. The company reported $0.30 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 firm earned $0.29 EPS. Leggett & Platt'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. As a group, research analysts anticipate that Leggett & Platt, Incorporated will post 1.14 earnings per share for the current year.

Leggett & Platt Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 15th. Shareholders of record on Monday, September 15th will be issued a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a yield of 2.1%. The ex-dividend date of this dividend is Monday, September 15th. Leggett & Platt's dividend payout ratio is presently 19.42%.

Analyst Ratings Changes

LEG has been the subject of several recent research reports. Zacks Research downgraded Leggett & Platt from a "hold" rating to a "strong sell" rating in a research note on Monday, August 18th. Wall Street Zen cut Leggett & Platt from a "buy" rating to a "hold" rating in a report on Saturday, August 2nd. Finally, Piper Sandler reaffirmed a "neutral" rating and issued a $9.00 price objective (down from $10.00) on shares of Leggett & Platt in a report on Monday, August 4th. Three research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, Leggett & Platt presently has an average 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.