Leggett & Platt, Incorporated $LEG Shares Purchased by Millennium Management LLC

Key Points

• Millennium Management LLC significantly increased its stake in Leggett & Platt, acquiring 4,084,866 shares and raising its holdings by 784.7% in the first quarter.
• Leggett & Platt reported earnings per share of $0.30 in its latest quarterly report, beating expectations, while year-over-year revenue declined by 6.3%.
• The company announced a quarterly dividend of $0.05 per share, reflecting an annualized dividend yield of 2.1%.

Millennium Management LLC increased its holdings in Leggett & Platt, Incorporated (NYSE:LEG - Free Report) by 784.7% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 4,605,416 shares of the company's stock after buying an additional 4,084,866 shares during the quarter. Millennium Management LLC owned about 3.41% of Leggett & Platt worth $36,429,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently bought and sold shares of LEG. State of Wyoming acquired a new position in Leggett & Platt in the 1st quarter worth approximately $89,000. Banco Bilbao Vizcaya Argentaria S.A. acquired a new position in Leggett & Platt in the 1st quarter worth approximately $102,000. Janney Montgomery Scott LLC acquired a new position in Leggett & Platt in the 1st quarter worth approximately $107,000. Blueshift Asset Management LLC acquired a new position in Leggett & Platt in the 1st quarter worth approximately $128,000. Finally, Captrust Financial Advisors increased 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. Institutional investors and hedge funds own 64.23% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on LEG. Piper Sandler reiterated a "neutral" rating and issued a $9.00 price target (down previously from $10.00) on shares of Leggett & Platt in a report on Monday, August 4th. Wall Street Zen lowered Leggett & Platt from a "buy" rating to a "hold" rating in a research report on Saturday, August 2nd. Finally, Zacks Research cut shares of Leggett & Platt from a "hold" rating to a "strong sell" rating in a research note on Monday, August 18th. Three analysts have rated the stock with a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Reduce" and an average target price of $9.67.

Leggett & Platt Price Performance

Shares of Leggett & Platt stock traded down $0.00 on Monday, hitting $9.56. The company's stock had a trading volume of 189,354 shares, compared to its average volume of 2,405,414. 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, Incorporated has a 1 year low of $6.47 and a 1 year high of $14.23. The firm has a fifty day moving average price of $9.60 and a 200-day moving average price of $8.91. The company has a market capitalization of $1.29 billion, a price-to-earnings ratio of 9.29 and a beta of 0.70.

Leggett & Platt (NYSE:LEG - Get Free Report) last released its quarterly 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 for the quarter, compared to analysts' expectations of $1.06 billion. During the same quarter last year, the company earned $0.29 EPS. The firm's revenue for the quarter 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, sell-side analysts anticipate that Leggett & Platt, Incorporated will post 1.14 earnings per share 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. Investors of record on Monday, September 15th will be paid 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 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.