Jane Street Group LLC Has $9.30 Million Stock Position in Leggett & Platt, Incorporated $LEG

Key Points

• Jane Street Group LLC increased its stake in Leggett & Platt by 36.3%, owning approximately 1,175,452 shares valued at $9.3 million as of the latest SEC filing.
• Leggett & Platt reported $0.30 earnings per share for the last quarter, slightly exceeding analysts' expectations of $0.29, but the company's revenue decreased by 6.3% year-over-year.
• The company announced a quarterly dividend of $0.05 to be paid on October 15th, representing an annualized dividend yield of 2.1%.

Jane Street Group LLC raised its position in shares of Leggett & Platt, Incorporated (NYSE:LEG - Free Report) by 36.3% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,175,452 shares of the company's stock after acquiring an additional 312,840 shares during the period. Jane Street Group LLC owned approximately 0.87% of Leggett & Platt worth $9,298,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the company. Banco Bilbao Vizcaya Argentaria S.A. acquired a new position in shares of Leggett & Platt during the first quarter valued at about $102,000. Janney Montgomery Scott LLC acquired a new position in Leggett & Platt in the first quarter worth about $107,000. Blueshift Asset Management LLC acquired a new stake in shares of Leggett & Platt during the first quarter worth approximately $128,000. Captrust Financial Advisors increased its holdings in shares of Leggett & Platt by 27.5% during the fourth quarter. Captrust Financial Advisors now owns 13,521 shares of the company's stock worth $130,000 after buying an additional 2,915 shares in the last quarter. Finally, Susquehanna Fundamental Investments LLC acquired a new stake in shares of Leggett & Platt during the fourth quarter worth approximately $131,000. 64.23% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports 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. Zacks Research cut shares of Leggett & Platt from a "hold" rating to a "strong sell" rating in a research note on Monday, August 18th. Finally, Wall Street Zen lowered shares of Leggett & Platt from a "buy" rating to a "hold" rating in a report on Saturday, August 2nd. Three equities research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Leggett & Platt presently has an average rating of "Reduce" and an average target price of $9.67.

Leggett & Platt Stock Performance

Shares of LEG traded up $0.21 during mid-day trading on Friday, hitting $10.00. 1,738,488 shares of the company's stock were exchanged, compared to its average volume of 1,426,559. Leggett & Platt, Incorporated has a 52 week low of $6.47 and a 52 week high of $14.23. The stock's 50-day simple moving average is $9.56 and its 200-day simple moving average is $8.91. The firm has a market cap of $1.35 billion, a price-to-earnings ratio of 9.70 and a beta of 0.70. The company has a quick ratio of 1.36, a current ratio of 2.17 and a debt-to-equity ratio of 2.09.

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, beating analysts' consensus estimates of $0.29 by $0.01. Leggett & Platt had a net margin of 3.36% and a return on equity of 19.42%. The business had revenue of $1.06 billion for the quarter, compared to analysts' expectations of $1.06 billion. During the same period last year, the firm posted $0.29 earnings per share. The firm's quarterly 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, equities research analysts expect that Leggett & Platt, Incorporated will post 1.14 EPS for the current year.

Leggett & Platt Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 15th. Investors of record on Monday, September 15th will be paid a $0.05 dividend. The ex-dividend date of this dividend is Monday, September 15th. This represents a $0.20 annualized dividend and a dividend yield of 2.0%. Leggett & Platt's payout ratio is currently 19.42%.

About Leggett & Platt

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.