Ieq Capital LLC Sells 81,479 Shares of Leggett & Platt, Incorporated $LEG

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

A number of other institutional investors have also recently added to or reduced their stakes in LEG. Banco Bilbao Vizcaya Argentaria S.A. bought a new stake in Leggett & Platt during the 1st quarter worth approximately $102,000. Janney Montgomery Scott LLC bought a new stake in Leggett & Platt during the 1st quarter worth approximately $107,000. Blueshift Asset Management LLC bought a new stake in Leggett & Platt during the 1st quarter worth approximately $128,000. Captrust Financial Advisors grew its holdings in Leggett & Platt by 27.5% during the 4th quarter. Captrust Financial Advisors now owns 13,521 shares of the company's stock worth $130,000 after acquiring an additional 2,915 shares during the last quarter. Finally, Farther Finance Advisors LLC grew its holdings in Leggett & Platt by 5,239.0% during the 1st quarter. Farther Finance Advisors LLC now owns 19,327 shares of the company's stock worth $152,000 after acquiring an additional 18,965 shares during the last quarter. 64.23% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the stock. Piper Sandler reaffirmed a "neutral" rating and issued a $9.00 price objective (down from $10.00) on shares of Leggett & Platt in a research note on Monday, August 4th. Wall Street Zen lowered shares of Leggett & Platt from a "buy" rating to a "hold" rating in a research note on Saturday, August 2nd. Finally, Zacks Research lowered shares of 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. Based on data from MarketBeat, the stock presently has a consensus rating of "Reduce" and an average target price of $9.67.

Leggett & Platt Stock Down 3.0%

NYSE:LEG traded down $0.30 during trading hours on Friday, reaching $9.62. The company had a trading volume of 1,586,511 shares, compared to its average volume of 1,636,631. The company has a quick ratio of 1.36, a current ratio of 2.17 and a debt-to-equity ratio of 2.09. The firm has a market cap of $1.30 billion, a price-to-earnings ratio of 9.34 and a beta of 0.70. The business's 50-day simple moving average is $9.60 and its two-hundred day simple moving average is $8.92. Leggett & Platt, Incorporated has a twelve month low of $6.47 and a twelve month high of $14.23.

Leggett & Platt (NYSE:LEG - Get Free Report) last posted its quarterly earnings results on Thursday, July 31st. The company reported $0.30 EPS for the quarter, topping analysts' consensus estimates of $0.29 by $0.01. The business had revenue of $1.06 billion during the quarter, compared to analysts' expectations of $1.06 billion. Leggett & Platt had a net margin of 3.36% and a return on equity of 19.42%. The business's quarterly revenue was down 6.3% on a year-over-year basis. During the same period last year, the company posted $0.29 earnings per share. Leggett & Platt has set its FY 2025 guidance at 1.000-1.200 EPS. On average, equities analysts expect that Leggett & Platt, Incorporated will post 1.14 earnings per share for the current year.

Leggett & Platt Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 15th. Shareholders of record on Monday, September 15th will be paid a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a dividend yield of 2.1%. The ex-dividend date of this dividend is Monday, September 15th. Leggett & Platt's dividend payout ratio (DPR) is 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.