Dynamic Technology Lab Private Ltd Has $290,000 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 decreased its stake in shares of Leggett & Platt, Incorporated (NYSE:LEG - Free Report) by 43.1% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm 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 filing with the SEC.

Several other large investors have also recently bought and sold shares of LEG. Vanguard Group Inc. lifted its position in Leggett & Platt by 7.1% during the first quarter. Vanguard Group Inc. now owns 16,583,732 shares of the company's stock worth $131,177,000 after acquiring an additional 1,105,256 shares during the last quarter. Millennium Management LLC increased its stake in shares of Leggett & Platt by 784.7% during the first quarter. Millennium Management LLC now owns 4,605,416 shares of the company's stock worth $36,429,000 after purchasing an additional 4,084,866 shares during the period. Invenomic Capital Management LP lifted its holdings in Leggett & Platt by 31.3% during the 1st quarter. Invenomic Capital Management LP now owns 1,992,319 shares of the company's stock worth $15,759,000 after purchasing an additional 475,163 shares during the last quarter. Trexquant Investment LP boosted its stake in Leggett & Platt by 31.8% in the 1st quarter. Trexquant Investment LP now owns 1,551,964 shares of the company's stock valued at $12,276,000 after purchasing an additional 374,073 shares during the period. Finally, Cubist Systematic Strategies LLC boosted its stake in Leggett & Platt by 1,495.6% in the 1st quarter. Cubist Systematic Strategies LLC now owns 1,539,758 shares of the company's stock valued at $12,179,000 after purchasing an additional 1,443,257 shares during the period. 64.23% of the stock is owned by institutional investors.

Analyst Ratings Changes

LEG has been the topic of several recent research reports. Wall Street Zen cut Leggett & Platt from a "buy" rating to a "hold" rating in a research report on Saturday, August 2nd. Piper Sandler reaffirmed a "neutral" rating and set a $9.00 price target (down from $10.00) on shares of Leggett & Platt in a research report on Monday, August 4th. Finally, Zacks Research downgraded shares of Leggett & Platt from a "hold" rating to a "strong sell" rating in a report on Monday, August 18th. Three analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Reduce" and a consensus target price of $9.67.

Leggett & Platt Price Performance

LEG stock traded down $0.21 during midday trading on Monday, reaching $9.40. The company had a trading volume of 1,660,578 shares, compared to its average volume of 1,650,580. The company has a market capitalization of $1.27 billion, a price-to-earnings ratio of 9.13 and a beta of 0.70. The stock has a 50 day moving average price of $9.60 and a 200-day moving average price of $8.92. Leggett & Platt, Incorporated has a 1-year low of $6.47 and a 1-year high of $14.23. 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 (NYSE:LEG - Get Free Report) last announced its quarterly earnings data 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. The firm had revenue of $1.06 billion for the quarter, compared to the consensus estimate of $1.06 billion. Leggett & Platt had a net margin of 3.36% and a return on equity of 19.42%. The business's revenue for the quarter was down 6.3% on a year-over-year basis. During the same period in the prior year, the company posted $0.29 earnings per share. Leggett & Platt has set its FY 2025 guidance at 1.000-1.200 EPS. Equities research analysts expect that Leggett & Platt, Incorporated will post 1.14 earnings per share for the current year.

Leggett & Platt Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 15th. Shareholders of record on Monday, September 15th will be given a dividend of $0.05 per share. 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%.

Leggett & Platt Company 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.