Ieq Capital LLC Lowers Stock Position in Leggett & Platt, Incorporated $LEG

Ieq Capital LLC reduced its stake in Leggett & Platt, Incorporated (NYSE:LEG - Free Report) by 80.9% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 19,198 shares of the company's stock after selling 81,479 shares during the period. Ieq Capital LLC's holdings in Leggett & Platt were worth $152,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Banco Bilbao Vizcaya Argentaria S.A. acquired a new stake in shares of Leggett & Platt in the first quarter valued at $102,000. Janney Montgomery Scott LLC acquired a new stake in shares of Leggett & Platt in the first quarter valued at $107,000. Blueshift Asset Management LLC acquired a new stake in shares of Leggett & Platt in the first quarter valued at $128,000. Captrust Financial Advisors raised its stake in shares of Leggett & Platt by 27.5% in the fourth quarter. Captrust Financial Advisors now owns 13,521 shares of the company's stock valued at $130,000 after acquiring an additional 2,915 shares in the last quarter. Finally, Farther Finance Advisors LLC raised its stake in shares of Leggett & Platt by 5,239.0% in the first quarter. Farther Finance Advisors LLC now owns 19,327 shares of the company's stock valued at $152,000 after acquiring an additional 18,965 shares in the last quarter. 64.23% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on LEG. Wall Street Zen cut Leggett & Platt from a "buy" rating to a "hold" rating in a research note on Saturday, August 2nd. Piper Sandler restated a "neutral" rating and issued a $9.00 price target (down from $10.00) on shares of Leggett & Platt in a research note on Monday, August 4th. Finally, Zacks Research cut Leggett & Platt from a "hold" rating to a "strong sell" rating in a research note on Monday, August 18th. Three investment analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of "Reduce" and an average target price of $9.67.

Leggett & Platt Stock Performance

Shares of LEG stock traded up $0.26 during mid-day trading on Wednesday, hitting $10.00. 2,578,877 shares of the stock were exchanged, compared to its average volume of 2,426,104. The stock's fifty day simple moving average is $9.59 and its two-hundred day simple moving average is $8.91. The stock has a market capitalization of $1.35 billion, a price-to-earnings ratio of 9.70 and a beta of 0.70. Leggett & Platt, Incorporated has a 12-month low of $6.47 and a 12-month high of $14.23. 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 (NYSE:LEG - Get Free Report) last released 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 firm had revenue of $1.06 billion for the quarter, compared to analyst estimates of $1.06 billion. During the same quarter last year, the company posted $0.29 earnings per share. The business'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. On average, analysts forecast that Leggett & Platt, Incorporated will post 1.14 EPS for the current year.

Leggett & Platt Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 15th. Investors 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 dividend yield of 2.0%. 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.