Hotchkis & Wiley Capital Management LLC Has $7.81 Million Stake in Leggett & Platt, Incorporated $LEG

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 boosted its holdings in shares of Leggett & Platt, Incorporated (NYSE:LEG - Free Report) by 70.5% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 986,990 shares of the company's stock after purchasing an additional 408,210 shares during the period. Hotchkis & Wiley Capital Management LLC owned about 0.73% of Leggett & Platt worth $7,807,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of LEG. Vanguard Group Inc. lifted its position in shares of Leggett & Platt by 7.1% during the 1st quarter. Vanguard Group Inc. now owns 16,583,732 shares of the company's stock worth $131,177,000 after buying an additional 1,105,256 shares during the period. AQR Capital Management LLC raised its stake in Leggett & Platt by 12.4% during the fourth quarter. AQR Capital Management LLC now owns 1,632,152 shares of the company's stock worth $15,669,000 after acquiring an additional 179,938 shares in the last quarter. Invenomic Capital Management LP lifted its holdings in shares of Leggett & Platt by 64.6% during the fourth quarter. Invenomic Capital Management LP now owns 1,517,156 shares of the company's stock valued at $14,565,000 after acquiring an additional 595,684 shares during the period. Wellington Management Group LLP boosted its stake in shares of 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, Invesco Ltd. boosted its stake in shares of Leggett & Platt by 19.6% in the 1st quarter. Invesco Ltd. now owns 961,228 shares of the company's stock valued at $7,603,000 after purchasing an additional 157,788 shares in the last quarter. 64.23% of the stock is currently owned by institutional investors.

Leggett & Platt Trading Up 0.0%

Shares of LEG stock traded up $0.00 on Thursday, reaching $9.73. 1,283,074 shares of the stock were exchanged, compared to its average volume of 2,449,135. 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 one year low of $6.47 and a one year high of $14.23. The stock has a market cap of $1.32 billion, a PE ratio of 9.45 and a beta of 0.70. The stock has a 50 day moving average price of $9.51 and a 200 day moving average price of $8.94.

Leggett & Platt (NYSE:LEG - Get Free Report) last posted its quarterly earnings results on Thursday, July 31st. The company reported $0.30 earnings per share (EPS) for the quarter, beating 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 business had revenue of $1.06 billion for the quarter, compared to analysts' expectations of $1.06 billion. During the same quarter last year, the business earned $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. Equities research analysts forecast that Leggett & Platt, Incorporated will post 1.14 EPS for the current fiscal 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 issued a $0.05 dividend. This represents a $0.20 annualized dividend and a yield of 2.1%. The ex-dividend date is Monday, September 15th. Leggett & Platt's dividend payout ratio is currently 19.42%.

Wall Street Analysts Forecast Growth

LEG has been the subject of several analyst reports. Zacks Research downgraded shares of 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 issued a $9.00 target price (down previously from $10.00) on shares of Leggett & Platt in a research note on Monday, August 4th. Wall Street Zen downgraded Leggett & Platt from a "buy" rating to a "hold" rating in a report on Saturday, August 2nd. Finally, The Goldman Sachs Group raised their price target on Leggett & Platt from $8.00 to $9.00 and gave the company a "neutral" rating in a report on Wednesday, April 30th. Three analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock has an average rating of "Reduce" and a consensus price target of $9.67.

Leggett & Platt 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.