Amundi Buys 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 raised its stake in shares of Leggett & Platt, Incorporated (NYSE:LEG - Free Report) by 241.4% in the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 283,000 shares of the company's stock after purchasing an additional 200,110 shares during the period. Amundi owned 0.21% of Leggett & Platt worth $2,103,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. State of Wyoming bought a new position in shares of Leggett & Platt in the first quarter worth approximately $89,000. Banco Bilbao Vizcaya Argentaria S.A. bought a new position in shares of Leggett & Platt in the first quarter worth approximately $102,000. Captrust Financial Advisors boosted its holdings in Leggett & Platt by 27.5% in the 4th quarter. Captrust Financial Advisors now owns 13,521 shares of the company's stock worth $130,000 after buying an additional 2,915 shares during the period. Janney Montgomery Scott LLC bought a new position in Leggett & Platt in the 1st quarter worth $107,000. Finally, Blueshift Asset Management LLC bought a new position in Leggett & Platt in the 1st quarter worth $128,000. Institutional investors own 64.23% of the company's stock.

Leggett & Platt Price Performance

Leggett & Platt stock traded down $0.24 during midday trading on Wednesday, reaching $9.28. 1,800,546 shares of the stock traded hands, compared to its average volume of 1,691,818. The company has a quick ratio of 1.36, a current ratio of 2.17 and a debt-to-equity ratio of 2.09. The stock has a market cap of $1.26 billion, a P/E ratio of 9.01 and a beta of 0.70. Leggett & Platt, Incorporated has a 12 month low of $6.47 and a 12 month high of $14.23. The stock's fifty day moving average is $9.58 and its 200-day moving average is $8.92.

Leggett & Platt (NYSE:LEG - Get Free Report) last posted its earnings results on Thursday, July 31st. The company reported $0.30 EPS for the quarter, beating analysts' consensus estimates 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 in the prior year, the company earned $0.29 EPS. The company'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. As a group, equities research analysts anticipate that Leggett & Platt, Incorporated will post 1.14 EPS for the current year.

Leggett & Platt Announces Dividend

The firm also recently declared 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. The ex-dividend date of this dividend is Monday, September 15th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 2.2%. Leggett & Platt's dividend payout ratio (DPR) is presently 19.42%.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on LEG. Zacks Research lowered 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 issued a $9.00 price target (down 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 equities 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.com, the stock currently has a consensus rating of "Reduce" and an average 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.