Leggett & Platt, Incorporated $LEG Shares Acquired by Bank of America Corp DE

Bank of America Corp DE grew its holdings in Leggett & Platt, Incorporated (NYSE:LEG - Free Report) by 11.1% in the first quarter, according to its most recent disclosure with the SEC. The fund owned 1,340,918 shares of the company's stock after buying an additional 134,091 shares during the period. Bank of America Corp DE owned 0.98% of Leggett & Platt worth $13,248,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. M&T Bank Corp increased its position in Leggett & Platt by 8,333.0% during the 4th quarter. M&T Bank Corp now owns 1,132,132 shares of the company's stock worth $12,453,000 after purchasing an additional 1,118,707 shares during the period. Lazard Asset Management LLC acquired a new stake in shares of Leggett & Platt in the 4th quarter worth approximately $11,297,000. Towle & Co. acquired a new position in Leggett & Platt during the fourth quarter worth about $10,484,000. Forest Avenue Capital Management LP raised its holdings in shares of Leggett & Platt by 208.4% in the fourth quarter. Forest Avenue Capital Management LP now owns 1,233,534 shares of the company's stock worth $13,569,000 after acquiring an additional 833,534 shares during the last quarter. Finally, Quantinno Capital Management LP boosted its position in Leggett & Platt by 208.2% during the second quarter. Quantinno Capital Management LP now owns 1,143,164 shares of the company's stock worth $10,197,000 after acquiring an additional 772,263 shares during the last quarter. 64.23% of the stock is currently owned by hedge funds and other institutional investors.

Leggett & Platt Stock Up 1.1%

LEG opened at $9.44 on Friday. The company has a market capitalization of $1.29 billion, a P/E ratio of 6.05 and a beta of 0.73. The company has a debt-to-equity ratio of 1.38, a current ratio of 2.35 and a quick ratio of 1.53. The firm's fifty day moving average price is $10.63 and its two-hundred day moving average price is $10.69. Leggett & Platt, Incorporated has a fifty-two week low of $8.34 and a fifty-two week high of $13.00.

Leggett & Platt (NYSE:LEG - Get Free Report) last released its quarterly earnings data on Thursday, August 6th. The company reported $0.39 EPS for the quarter, topping analysts' consensus estimates of $0.26 by $0.13. The company had revenue of $999.70 million during the quarter, compared to the consensus estimate of $982.86 million. Leggett & Platt had a net margin of 5.64% and a return on equity of 13.31%. The firm's revenue for the quarter was down 5.5% compared to the same quarter last year. During the same period last year, the firm earned $0.30 EPS. On average, analysts anticipate that Leggett & Platt, Incorporated will post 1.05 EPS for the current year.

Leggett & Platt Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, August 24th. Stockholders of record on Monday, August 10th will be issued a $0.05 dividend. The ex-dividend date of this dividend is Monday, August 10th. This represents a $0.20 annualized dividend and a dividend yield of 2.1%. Leggett & Platt's dividend payout ratio is presently 12.82%.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on LEG shares. Zacks Research raised shares of Leggett & Platt from a "hold" rating to a "strong-buy" rating in a research report on Wednesday. Piper Sandler reduced their target price on Leggett & Platt from $12.00 to $10.00 and set a "neutral" rating on the stock in a report on Wednesday, August 12th. Weiss Ratings lowered Leggett & Platt from a "hold (c)" rating to a "hold (c-)" rating in a research report on Wednesday, July 29th. Finally, Truist Financial decreased their target price on Leggett & Platt from $13.00 to $11.00 and set a "hold" rating for the company in a research note on Friday, May 8th. One research analyst has rated the stock with a Strong Buy rating and four have given a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $10.67.

Trending Headlines about Leggett & Platt

Here are the key news stories impacting Leggett & Platt this week:

• Positive Sentiment: Merger approval: Leggett & Platt shareholders approved the combination with Somnigroup, clearing a key step in the transaction and potentially supporting the stock by lowering deal-execution risk. Leggett & Platt shareholders approve Somnigroup merger
• Positive Sentiment: Analyst upgrade: Zacks Research upgraded LEG from “Hold” to “Strong Buy,” adding momentum to the bullish narrative. Zacks also placed the stock on several Strong Buy lists focused on overall, value and income stocks. New Strong Buy Stocks for August 20th
• Positive Sentiment: Longer-term earnings outlook improved: Zacks raised its FY2026 EPS estimate to $1.00 from $0.96 and its FY2027 forecast to $1.12 from $1.08. It also increased several quarterly estimates, including Q2 2027 and Q3 2027.
• Neutral Sentiment: Mixed estimate revisions: Zacks lowered its Q3 2026 EPS forecast to $0.28 from $0.29, Q4 2026 to $0.18 from $0.21, and Q1 2027 to $0.22 from $0.24, while maintaining a “Hold” rating in its detailed estimate reports. The revisions suggest near-term operating expectations remain uneven.

Leggett & Platt Profile

Leggett & Platt, Inc is a diversified manufacturer specializing in the design, engineering and production of a wide range of engineered components and products. The company's offerings span several end markets, including residential bedding, commercial and residential furniture, automotive seating and interiors, aerospace applications and industrial products. By integrating product design with proprietary manufacturing processes, Leggett & Platt serves as a key supplier to both original equipment manufacturers and aftermarket distributors.

The company's core product lines include coil springs and support systems for mattresses and furniture, adjustable bed mechanisms, engineered components such as extruded and formed metal products, and specialty foam and bedding products.

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