Leggett & Platt, Incorporated $LEG Shares Sold by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. lowered its holdings in shares of Leggett & Platt, Incorporated (NYSE:LEG - Free Report) by 69.3% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,459,918 shares of the company's stock after selling 3,291,148 shares during the period. Charles Schwab Investment Management Inc. owned about 1.08% of Leggett & Platt worth $11,548,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Janney Montgomery Scott LLC acquired a new position in Leggett & Platt during the first quarter worth about $107,000. Coldstream Capital Management Inc. acquired a new position in Leggett & Platt during the fourth quarter worth about $111,000. Blueshift Asset Management LLC purchased a new stake in shares of Leggett & Platt during the first quarter worth about $128,000. Captrust Financial Advisors grew its holdings in shares of Leggett & Platt by 27.5% during the fourth quarter. Captrust Financial Advisors now owns 13,521 shares of the company's stock worth $130,000 after buying an additional 2,915 shares in the last quarter. Finally, Susquehanna Fundamental Investments LLC purchased a new stake in shares of Leggett & Platt during the fourth quarter worth about $131,000. Institutional investors and hedge funds own 64.23% of the company's stock.

Wall Street Analysts Forecast Growth

LEG has been the subject of a number of recent research reports. Piper Sandler reiterated 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. Zacks Research downgraded shares of Leggett & Platt from a "hold" rating to a "strong sell" rating in a report on Monday, August 18th. The Goldman Sachs Group lifted 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. Finally, Wall Street Zen downgraded shares of Leggett & Platt from a "buy" rating to a "hold" rating in a report on Saturday, August 2nd. Three equities research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Reduce" and an average price target of $9.67.

Leggett & Platt Price Performance

Leggett & Platt stock opened at $9.6550 on Monday. Leggett & Platt, Incorporated has a 1 year low of $6.47 and a 1 year high of $14.23. The firm has a 50 day moving average price of $9.47 and a 200 day moving average price of $8.93. The company has a market cap of $1.31 billion, a price-to-earnings ratio of 9.37 and a beta of 0.70. The company has a debt-to-equity ratio of 2.09, a quick ratio of 1.36 and a current ratio of 2.17.

Leggett & Platt (NYSE:LEG - Get Free Report) last released 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 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 earned $0.29 earnings per share. Leggett & Platt's 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. Sell-side analysts predict that Leggett & Platt, Incorporated will post 1.14 earnings per share for the current year.

Leggett & Platt Dividend Announcement

The business also recently announced 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 dividend on an annualized basis and a yield of 2.1%. The ex-dividend date is Monday, September 15th. Leggett & Platt's payout ratio 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.

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