Amundi Acquires 200,110 Shares of Leggett & Platt, Incorporated $LEG

Key Points

• Amundi increased its stake in Leggett & Platt by 241.4% in Q1, owning approximately 0.21% of the company worth $2.1 million after acquiring over 200,000 additional shares.
• Leggett & Platt announced a quarterly dividend of $0.05 per share, with an ex-dividend date of September 15, resulting in an annualized yield of 2.0%.
• The company reported a net margin of 3.36% and a return on equity of 19.42% for the last quarter, with a quarterly revenue of $1.06 billion, showing a 6.3% year-over-year decline.

Amundi increased its position in shares of Leggett & Platt, Incorporated (NYSE:LEG - Free Report) by 241.4% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 283,000 shares of the company's stock after buying an additional 200,110 shares during the quarter. Amundi owned 0.21% of Leggett & Platt worth $2,103,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. State of Wyoming acquired a new stake in Leggett & Platt during the first quarter worth about $89,000. Banco Bilbao Vizcaya Argentaria S.A. bought a new position in Leggett & Platt during the first quarter worth about $102,000. Janney Montgomery Scott LLC bought a new position in Leggett & Platt during the first quarter worth about $107,000. Blueshift Asset Management LLC bought a new position in Leggett & Platt during the first quarter worth about $128,000. Finally, Captrust Financial Advisors lifted its stake in 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 purchasing an additional 2,915 shares during the period. 64.23% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

LEG has been the subject of a number of analyst reports. Wall Street Zen cut shares of Leggett & Platt from a "buy" rating to a "hold" rating in a research note on Saturday, August 2nd. 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. Finally, Zacks Research cut shares of Leggett & Platt from a "hold" rating to a "strong sell" rating in a research report on Monday, August 18th. Three investment analysts have rated the stock with a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Reduce" and an average target price of $9.67.

Leggett & Platt Stock Down 2.2%

Shares of Leggett & Platt stock traded down $0.21 during trading hours on Monday, reaching $9.40. 1,660,578 shares of the company's stock were exchanged, compared to its average volume of 2,413,930. The company has a 50 day moving average of $9.60 and a two-hundred day moving average of $8.91. Leggett & Platt, Incorporated has a fifty-two week low of $6.47 and a fifty-two week high of $14.23. 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 stock has a market cap of $1.27 billion, a P/E ratio of 9.13 and a beta of 0.70.

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. The company had revenue of $1.06 billion for the quarter, compared to analysts' expectations of $1.06 billion. Leggett & Platt had a net margin of 3.36% and a return on equity of 19.42%. Leggett & Platt's quarterly revenue was down 6.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.29 EPS. Leggett & Platt has set its FY 2025 guidance at 1.000-1.200 EPS. On average, sell-side analysts forecast that Leggett & Platt, Incorporated will post 1.14 EPS for the current fiscal year.

Leggett & Platt Dividend Announcement

The business also recently declared 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. 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 is currently 19.42%.

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.