Allianz Asset Management GmbH Raises Position in Leggett & Platt, Incorporated $LEG

Key Points

• Allianz Asset Management GmbH increased its holdings in Leggett & Platt, Inc. by 89.9%, owning approximately 679,068 shares valued at $6.06 million at the end of the last quarter.
• Leggett & Platt announced a $0.05 quarterly dividend, with a yield of 2.2%, and a dividend payout ratio of 19.42%.
• Analysts currently have a consensus rating of "Reduce" for Leggett & Platt, with an average price target of $9.67.

Allianz Asset Management GmbH grew its holdings in shares of Leggett & Platt, Incorporated (NYSE:LEG - Free Report) by 89.9% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 679,068 shares of the company's stock after purchasing an additional 321,519 shares during the quarter. Allianz Asset Management GmbH owned approximately 0.50% of Leggett & Platt worth $6,057,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in the business. Jones Financial Companies Lllp lifted its stake in shares of Leggett & Platt by 8.4% during the 1st quarter. Jones Financial Companies Lllp now owns 14,661 shares of the company's stock worth $116,000 after purchasing an additional 1,132 shares during the period. Oppenheimer & Co. Inc. raised its position in shares of Leggett & Platt by 8.9% in the 1st quarter. Oppenheimer & Co. Inc. now owns 24,501 shares of the company's stock worth $194,000 after buying an additional 2,000 shares during the period. SummerHaven Investment Management LLC raised its position in shares of Leggett & Platt by 2.8% in the 2nd quarter. SummerHaven Investment Management LLC now owns 74,171 shares of the company's stock worth $662,000 after buying an additional 2,005 shares during the period. Prime Capital Investment Advisors LLC raised its position in shares of Leggett & Platt by 17.8% in the 2nd quarter. Prime Capital Investment Advisors LLC now owns 15,532 shares of the company's stock worth $139,000 after buying an additional 2,349 shares during the period. Finally, State of Alaska Department of Revenue raised its position in shares of Leggett & Platt by 8.1% in the 2nd quarter. State of Alaska Department of Revenue now owns 80,507 shares of the company's stock worth $717,000 after buying an additional 6,037 shares during the period. Hedge funds and other institutional investors own 64.23% of the company's stock.

Leggett & Platt Trading Down 1.1%

NYSE:LEG opened at $9.08 on Thursday. The business's 50-day moving average is $9.26 and its two-hundred day moving average is $9.05. The company has a debt-to-equity ratio of 2.09, a current ratio of 2.17 and a quick ratio of 1.36. Leggett & Platt, Incorporated has a 12 month low of $6.47 and a 12 month high of $13.20. The firm has a market capitalization of $1.23 billion, a PE ratio of 8.82 and a beta of 0.72.

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, beating the consensus estimate 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 for the quarter, compared to analyst estimates of $1.06 billion. During the same period last year, the company posted $0.29 earnings per share. The firm's revenue 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. Research analysts predict that Leggett & Platt, Incorporated will post 1.14 earnings per share for the current fiscal year.

Leggett & Platt Announces Dividend

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

Analysts Set New Price Targets

Several research analysts recently weighed in on LEG shares. Zacks Research raised Leggett & Platt from a "strong sell" rating to a "hold" rating in a research report on Wednesday, October 8th. Weiss Ratings reaffirmed a "sell (d)" rating on shares of Leggett & Platt in a research report on Wednesday, October 8th. Piper Sandler reaffirmed a "neutral" rating and issued a $9.00 target price (down from $10.00) on shares of Leggett & Platt in a research report on Monday, August 4th. Finally, Wall Street Zen lowered Leggett & Platt from a "buy" rating to a "hold" rating in a research report on Saturday, August 2nd. Four research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Leggett & Platt currently has an average rating of "Reduce" and a consensus price target 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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