Campbell & CO Investment Adviser LLC Raises Stock Holdings in Leggett & Platt, Incorporated $LEG

Key Points

• Campbell & CO Investment Adviser LLC increased its stake in Leggett & Platt by 22.2%, acquiring an additional 48,245 shares, bringing its total ownership to approximately 265,357 shares worth $2.1 million.
• Analysts have mixed opinions on Leggett & Platt, with Goldman Sachs raising its target price to $9.00 and Zacks downgrading it to a "strong sell," resulting in an average target price of $9.67.
• Leggett & Platt announced a quarterly dividend of $0.05 per share, reflecting a 2.1% yield, which will be payable on October 15th to stockholders of record as of September 15th.

Campbell & CO Investment Adviser LLC raised its position in shares of Leggett & Platt, Incorporated (NYSE:LEG - Free Report) by 22.2% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 265,357 shares of the company's stock after acquiring an additional 48,245 shares during the period. Campbell & CO Investment Adviser LLC owned approximately 0.20% of Leggett & Platt worth $2,099,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also modified their holdings of the company. Oppenheimer & Co. Inc. raised its holdings in shares of Leggett & Platt by 8.9% during the 1st quarter. Oppenheimer & Co. Inc. now owns 24,501 shares of the company's stock worth $194,000 after acquiring an additional 2,000 shares in the last quarter. Deutsche Bank AG increased its position in shares of Leggett & Platt by 3.2% during the 4th quarter. Deutsche Bank AG now owns 67,319 shares of the company's stock valued at $646,000 after purchasing an additional 2,109 shares during the last quarter. Investors Research Corp increased its position in shares of Leggett & Platt by 10.5% during the 1st quarter. Investors Research Corp now owns 28,322 shares of the company's stock valued at $224,000 after purchasing an additional 2,687 shares during the last quarter. Captrust Financial Advisors increased its position in shares of Leggett & Platt by 27.5% during 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 last quarter. Finally, Price T Rowe Associates Inc. MD increased its position in shares of Leggett & Platt by 7.3% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 88,936 shares of the company's stock valued at $854,000 after purchasing an additional 6,015 shares during the last quarter. 64.23% of the stock is owned by hedge funds and other institutional investors.

Leggett & Platt Stock Down 1.2%

Shares of LEG traded down $0.12 during midday trading on Wednesday, reaching $9.74. 1,607,484 shares of the stock were exchanged, compared to its average volume of 1,920,920. Leggett & Platt, Incorporated has a 52 week low of $6.47 and a 52 week high of $14.23. The company has a current ratio of 2.17, a quick ratio of 1.36 and a debt-to-equity ratio of 2.09. The company's 50 day moving average is $9.51 and its two-hundred day moving average is $8.94. The company has a market capitalization of $1.32 billion, a P/E ratio of 9.45 and a beta of 0.70.

Leggett & Platt (NYSE:LEG - Get Free Report) last posted 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 quarter in the prior year, the company earned $0.29 EPS. The business'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. On average, sell-side analysts anticipate that Leggett & Platt, Incorporated will post 1.14 earnings per share for the current year.

Leggett & Platt Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 15th. Stockholders 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 2.1%. Leggett & Platt's dividend payout ratio is presently 19.42%.

Analysts Set New Price Targets

Several research firms have recently weighed in on LEG. Wall Street Zen downgraded Leggett & Platt from a "buy" rating to a "hold" rating in a research report on Saturday, August 2nd. The Goldman Sachs Group boosted their target price on Leggett & Platt from $8.00 to $9.00 and gave the company a "neutral" rating in a research report on Wednesday, April 30th. Piper Sandler reissued a "neutral" rating and set a $9.00 target price (down previously from $10.00) on shares of Leggett & Platt in a research report on Monday, August 4th. Finally, Zacks Research downgraded Leggett & Platt from a "hold" rating to a "strong sell" rating in a research report on Monday, August 18th. Three analysts have rated the stock with a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Reduce" and an average price target of $9.67.

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.