Leggett & Platt, Incorporated $LEG is Seven Six Capital Management LLC's 6th Largest Position

Key Points

• Seven Six Capital Management LLC increased its stake in Leggett & Platt by 26.8% in the 1st quarter, now holding 743,501 shares valued at approximately $5.88 million.
• Recent analyst reports have downgraded Leggett & Platt shares, with Wall Street Zen changing its rating from "buy" to "hold" and Zacks Research labeling it a "strong sell".
• The company announced a quarterly dividend of $0.05 per share, resulting in an annualized yield of 2.0%, with the payment scheduled for October 15th.

Seven Six Capital Management LLC raised its holdings in shares of Leggett & Platt, Incorporated (NYSE:LEG - Free Report) by 26.8% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 743,501 shares of the company's stock after acquiring an additional 157,334 shares during the quarter. Leggett & Platt makes up 5.3% of Seven Six Capital Management LLC's investment portfolio, making the stock its 6th biggest holding. Seven Six Capital Management LLC owned about 0.55% of Leggett & Platt worth $5,881,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in LEG. Vanguard Group Inc. grew its stake in 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 last quarter. Millennium Management LLC grew its stake in Leggett & Platt by 784.7% during the 1st quarter. Millennium Management LLC now owns 4,605,416 shares of the company's stock worth $36,429,000 after buying an additional 4,084,866 shares during the last quarter. Invenomic Capital Management LP grew its stake in Leggett & Platt by 31.3% during the 1st quarter. Invenomic Capital Management LP now owns 1,992,319 shares of the company's stock worth $15,759,000 after buying an additional 475,163 shares during the last quarter. Trexquant Investment LP grew its stake in Leggett & Platt by 31.8% during the 1st quarter. Trexquant Investment LP now owns 1,551,964 shares of the company's stock worth $12,276,000 after buying an additional 374,073 shares during the last quarter. Finally, Cubist Systematic Strategies LLC grew its stake in Leggett & Platt by 1,495.6% during the 1st quarter. Cubist Systematic Strategies LLC now owns 1,539,758 shares of the company's stock worth $12,179,000 after buying an additional 1,443,257 shares during the last quarter. 64.23% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

Leggett & Platt Price Performance

Shares of LEG traded down $0.45 during mid-day trading on Tuesday, hitting $9.76. The company's stock had a trading volume of 1,947,223 shares, compared to its average volume of 1,529,954. The company has a current ratio of 2.17, a quick ratio of 1.36 and a debt-to-equity ratio of 2.09. The firm has a 50-day simple moving average of $9.59 and a 200 day simple moving average of $8.91. The firm has a market capitalization of $1.32 billion, a P/E ratio of 9.47 and a beta of 0.70. Leggett & Platt, Incorporated has a 1-year low of $6.47 and a 1-year high of $14.23.

Leggett & Platt (NYSE:LEG - Get Free Report) last released its quarterly earnings data on Thursday, July 31st. The company reported $0.30 earnings per share 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 firm had revenue of $1.06 billion during the quarter, compared to the consensus estimate of $1.06 billion. During the same period last year, the business posted $0.29 EPS. Leggett & Platt's quarterly revenue was down 6.3% on a year-over-year basis. Leggett & Platt has set its FY 2025 guidance at 1.000-1.200 EPS. Analysts predict that Leggett & Platt, Incorporated will post 1.14 EPS for the current fiscal year.

Leggett & Platt Announces Dividend

The company 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. This represents a $0.20 annualized dividend and a yield of 2.1%. The ex-dividend date of this dividend is Monday, September 15th. Leggett & Platt's dividend payout ratio (DPR) is presently 19.42%.

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.