Leggett & Platt, Incorporated $LEG Shares Purchased by Hotchkis & Wiley Capital Management LLC

Key Points

• Hotchkis & Wiley Capital Management LLC increased its stake in Leggett & Platt by 70.5%, now holding nearly 987,000 shares valued at approximately $7.8 million.
• Following the recent earnings report, Leggett & Platt posted an EPS of $0.30, exceeding estimates, but experienced a 6.3% decline in revenue year-over-year.
• The company also announced a quarterly dividend of $0.05 per share, reflecting an annualized dividend yield of 2.1%.

Hotchkis & Wiley Capital Management LLC raised its holdings in Leggett & Platt, Incorporated (NYSE:LEG - Free Report) by 70.5% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 986,990 shares of the company's stock after purchasing an additional 408,210 shares during the quarter. Hotchkis & Wiley Capital Management LLC owned 0.73% of Leggett & Platt worth $7,807,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently added to or reduced their stakes in the business. AlphaQuest LLC boosted its holdings in Leggett & Platt by 156.4% in the 1st quarter. AlphaQuest LLC now owns 68,848 shares of the company's stock valued at $545,000 after purchasing an additional 41,996 shares in the last quarter. Banco Bilbao Vizcaya Argentaria S.A. purchased a new stake in Leggett & Platt in the 1st quarter valued at approximately $102,000. Quantbot Technologies LP boosted its holdings in Leggett & Platt by 67.5% in the 1st quarter. Quantbot Technologies LP now owns 253,786 shares of the company's stock valued at $2,007,000 after purchasing an additional 102,242 shares in the last quarter. Wellington Management Group LLP boosted its holdings in Leggett & Platt by 11.2% in the 1st quarter. Wellington Management Group LLP now owns 1,323,652 shares of the company's stock valued at $10,470,000 after purchasing an additional 133,394 shares in the last quarter. Finally, Versor Investments LP purchased a new stake in Leggett & Platt in the 1st quarter valued at approximately $234,000. Hedge funds and other institutional investors own 64.23% of the company's stock.

Leggett & Platt Price Performance

Shares of LEG stock traded down $0.11 during midday trading on Friday, reaching $9.63. 1,510,407 shares of the company traded hands, compared to its average volume of 1,829,057. The company has a debt-to-equity ratio of 2.09, a current ratio of 2.17 and a quick ratio of 1.36. Leggett & Platt, Incorporated has a 1-year low of $6.47 and a 1-year high of $14.23. The firm has a market cap of $1.30 billion, a PE ratio of 9.34 and a beta of 0.70. The firm's 50 day simple moving average is $9.53 and its two-hundred day simple moving average is $8.92.

Leggett & Platt (NYSE:LEG - Get Free Report) last issued its quarterly earnings data on Thursday, July 31st. The company reported $0.30 earnings per share (EPS) for the quarter, topping the consensus estimate 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 during the quarter, compared to the consensus estimate of $1.06 billion. During the same period in the previous year, the firm posted $0.29 EPS. The company'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 fiscal 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 2.1%. The ex-dividend date is Monday, September 15th. Leggett & Platt's payout ratio is currently 19.42%.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on LEG shares. Zacks Research lowered Leggett & Platt from a "hold" rating to a "strong sell" rating in a report on Monday, August 18th. Piper Sandler reiterated a "neutral" rating and set a $9.00 price target (down from $10.00) on shares of Leggett & Platt in a research report on Monday, August 4th. Finally, Wall Street Zen downgraded shares of Leggett & Platt from a "buy" rating to a "hold" rating in a research report on Saturday, August 2nd. Three analysts have rated the stock with a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Reduce" and a consensus target price of $9.67.

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.