Leggett & Platt, Incorporated $LEG Shares Sold by Berkshire Asset Management LLC PA

Key Points

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Berkshire Asset Management LLC PA trimmed its holdings in Leggett & Platt, Incorporated (NYSE:LEG - Free Report) by 23.2% in the first quarter, according to its most recent disclosure with the SEC. The fund owned 273,782 shares of the company's stock after selling 82,600 shares during the period. Berkshire Asset Management LLC PA owned 0.20% of Leggett & Platt worth $2,166,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Sterling Capital Management LLC raised its holdings in shares of Leggett & Platt by 17.1% in the fourth quarter. Sterling Capital Management LLC now owns 7,972 shares of the company's stock valued at $77,000 after buying an additional 1,163 shares during the last quarter. Coldstream Capital Management Inc. purchased a new stake in shares of Leggett & Platt in the fourth quarter valued at about $111,000. Captrust Financial Advisors raised its holdings in shares of Leggett & Platt by 27.5% in the fourth quarter. Captrust Financial Advisors now owns 13,521 shares of the company's stock valued at $130,000 after buying an additional 2,915 shares during the last quarter. Janney Montgomery Scott LLC purchased a new stake in shares of Leggett & Platt in the first quarter valued at about $107,000. Finally, Susquehanna Fundamental Investments LLC purchased a new position in Leggett & Platt during the fourth quarter worth about $131,000. 64.23% of the stock is owned by hedge funds and other institutional investors.

Leggett & Platt Price Performance

Leggett & Platt stock traded up $0.5350 during mid-day trading on Friday, reaching $9.6550. The company had a trading volume of 1,810,149 shares, compared to its average volume of 2,468,726. Leggett & Platt, Incorporated has a 1 year low of $6.47 and a 1 year high of $14.23. The company has a debt-to-equity ratio of 2.09, a current ratio of 2.17 and a quick ratio of 1.36. The company has a market capitalization of $1.31 billion, a P/E ratio of 9.37 and a beta of 0.70. The stock's 50-day simple moving average is $9.46 and its 200-day simple moving average is $8.95.

Leggett & Platt (NYSE:LEG - Get Free Report) last issued its earnings results on Thursday, July 31st. The company reported $0.30 earnings per share (EPS) 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 company had revenue of $1.06 billion during the quarter, compared to analysts' expectations of $1.06 billion. During the same period last year, the company posted $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. On average, equities analysts predict that Leggett & Platt, Incorporated will post 1.14 EPS for the current year.

Leggett & Platt Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 15th. Shareholders of record on Monday, September 15th will be issued a $0.05 dividend. The ex-dividend date of this dividend is Monday, September 15th. This represents a $0.20 dividend on an annualized basis and a yield of 2.1%. Leggett & Platt's dividend payout ratio (DPR) is 19.42%.

Analysts Set New Price Targets

Several research analysts recently issued reports on the stock. The Goldman Sachs Group increased their price target on shares of Leggett & Platt from $8.00 to $9.00 and gave the stock a "neutral" rating in a report on Wednesday, April 30th. Wall Street Zen cut shares of Leggett & Platt from a "buy" rating to a "hold" rating in a report on Saturday, August 2nd. Zacks Research cut shares of Leggett & Platt from a "hold" rating to a "strong sell" rating in a report on Monday. Finally, Piper Sandler reissued a "neutral" rating and set a $9.00 price target (down from $10.00) on shares of Leggett & Platt in a report on Monday, August 4th. Three analysts have rated the stock with a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Reduce" and an average 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.