Jump Financial LLC Grows Position in Leggett & Platt, Incorporated $LEG

Key Points

• Jump Financial LLC increased its stake in Leggett & Platt by 169.7% in the 1st quarter, owning approximately 437,710 shares worth $3,462,000.
• Leggett & Platt reported a quarterly earnings per share (EPS) of $0.30, exceeding analysts' expectations, despite a 6.3% year-over-year revenue decline.
• The company declared a quarterly dividend of $0.05, reflecting an annual yield of 2.1%, with a payout ratio of 19.42%.

Jump Financial LLC boosted its stake in shares of Leggett & Platt, Incorporated (NYSE:LEG - Free Report) by 169.7% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 437,710 shares of the company's stock after purchasing an additional 275,443 shares during the period. Jump Financial LLC owned approximately 0.32% of Leggett & Platt worth $3,462,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Coldstream Capital Management Inc. purchased a new stake in Leggett & Platt during the 4th quarter worth approximately $111,000. Banco Bilbao Vizcaya Argentaria S.A. purchased a new stake in shares of Leggett & Platt in the 1st quarter valued at $102,000. Captrust Financial Advisors boosted its holdings in shares of Leggett & Platt by 27.5% in the 4th 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 during the last quarter. Janney Montgomery Scott LLC purchased a new stake in shares of Leggett & Platt in the 1st quarter valued at $107,000. Finally, Susquehanna Fundamental Investments LLC purchased a new stake in shares of Leggett & Platt in the 4th quarter valued at $131,000. Hedge funds and other institutional investors own 64.23% of the company's stock.

Analyst Ratings Changes

Several 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 report on Monday, August 4th. The Goldman Sachs Group upped their price objective on shares of Leggett & Platt from $8.00 to $9.00 and gave the company a "neutral" rating in a report on Wednesday, April 30th. Zacks Research downgraded shares of Leggett & Platt from a "hold" rating to a "strong sell" rating in a report on Monday, August 18th. Finally, Wall Street Zen downgraded shares of Leggett & Platt from a "buy" rating to a "hold" rating in a report on Saturday, August 2nd. Three analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of "Reduce" and an average price target of $9.67.

Leggett & Platt Price Performance

Shares of NYSE LEG opened at $9.66 on Tuesday. Leggett & Platt, Incorporated has a 52 week low of $6.47 and a 52 week high of $14.23. The stock has a market capitalization of $1.31 billion, a price-to-earnings ratio of 9.38 and a beta of 0.70. The firm has a 50-day simple moving average of $9.48 and a 200-day simple moving average of $8.92. 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 results on Thursday, July 31st. The company reported $0.30 earnings per share 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 during the quarter, compared to analysts' expectations of $1.06 billion. During the same period last year, the business earned $0.29 earnings per share. The business's revenue for the quarter 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, equities analysts predict that Leggett & Platt, Incorporated will post 1.14 earnings per share for the current fiscal year.

Leggett & Platt Dividend Announcement

The company also recently declared 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 is Monday, September 15th. This represents a $0.20 dividend on an annualized basis and a yield of 2.1%. 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.

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