Dynamic Technology Lab Private Ltd Trims Stock Holdings in Leggett & Platt, Incorporated $LEG

Key Points

• Dynamic Technology Lab Private Ltd reduced its stake in Leggett & Platt by 43.1%, now holding 36,668 shares worth $290,000 following the sale of 27,829 shares.
• Leggett & Platt recently declared a $0.05 quarterly dividend, with a dividend yield of 2.1% and a payout ratio of 19.42%.
• Wall Street analysts have downgraded Leggett & Platt, with Zacks Research rating it as a "strong sell", and a consensus price target of $9.67.

Dynamic Technology Lab Private Ltd lessened its holdings in shares of Leggett & Platt, Incorporated (NYSE:LEG - Free Report) by 43.1% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 36,668 shares of the company's stock after selling 27,829 shares during the period. Dynamic Technology Lab Private Ltd's holdings in Leggett & Platt were worth $290,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. State of Wyoming bought a new stake in Leggett & Platt in the first quarter worth $89,000. Banco Bilbao Vizcaya Argentaria S.A. bought a new position in Leggett & Platt in the 1st quarter worth about $102,000. Janney Montgomery Scott LLC purchased a new stake in Leggett & Platt during the 1st quarter valued at about $107,000. Blueshift Asset Management LLC bought a new stake in Leggett & Platt during the 1st quarter valued at about $128,000. Finally, Captrust Financial Advisors increased its stake in 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 in the last quarter. 64.23% of the stock is currently owned by institutional investors.

Leggett & Platt Stock Performance

Leggett & Platt stock traded up $0.35 during trading on Thursday, reaching $9.64. The company had a trading volume of 1,896,072 shares, compared to its average volume of 1,715,184. The firm has a market capitalization of $1.30 billion, a price-to-earnings ratio of 9.36 and a beta of 0.70. 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 firm's 50-day simple moving average is $9.56 and its 200 day simple moving average is $8.93. Leggett & Platt, Incorporated has a 52 week low of $6.47 and a 52 week high of $14.23.

Leggett & Platt (NYSE:LEG - Get Free Report) last announced its quarterly earnings results on Thursday, July 31st. The company reported $0.30 EPS for the quarter, beating 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 analyst estimates of $1.06 billion. During the same period in the prior year, the company earned $0.29 earnings per share. The firm'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. Sell-side analysts forecast that Leggett & Platt, Incorporated will post 1.14 earnings per share for the current fiscal year.

Leggett & Platt Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 15th. Investors of record on Monday, September 15th will be given a $0.05 dividend. This represents a $0.20 annualized dividend and a yield of 2.1%. The ex-dividend date is Monday, September 15th. Leggett & Platt's payout ratio is currently 19.42%.

Analyst Ratings Changes

A number of research firms have recently commented on LEG. Wall Street Zen cut shares of Leggett & Platt from a "buy" rating to a "hold" rating in a report on Saturday, August 2nd. Zacks Research cut Leggett & Platt from a "hold" rating to a "strong sell" rating in a research report 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 report on Monday, August 4th. Three investment analysts have rated the stock with a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Reduce" and a consensus target price 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.