Public Sector Pension Investment Board Purchases 91,641 Shares of Leggett & Platt, Incorporated $LEG

Key Points

• The Public Sector Pension Investment Board increased its stake in Leggett & Platt by 27.4%, holding 426,212 shares valued at approximately $3.37 million.
• Analysts have mixed views on Leggett & Platt, with Piper Sandler and Wall Street Zen maintaining a neutral rating and adjusting price targets between $8.00 and $9.00.
• Leggett & Platt announced a quarterly dividend of $0.05 per share, reflecting an annual yield of 2.2%.

Public Sector Pension Investment Board grew its position in Leggett & Platt, Incorporated (NYSE:LEG - Free Report) by 27.4% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 426,212 shares of the company's stock after purchasing an additional 91,641 shares during the quarter. Public Sector Pension Investment Board owned about 0.32% of Leggett & Platt worth $3,371,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Sterling Capital Management LLC grew its position 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 purchasing an additional 1,163 shares during the last quarter. Janney Montgomery Scott LLC acquired a new position in shares of Leggett & Platt in the first quarter valued at approximately $107,000. Coldstream Capital Management Inc. acquired a new stake in Leggett & Platt during the fourth quarter worth approximately $111,000. Blueshift Asset Management LLC acquired a new stake in Leggett & Platt during the first quarter worth approximately $128,000. Finally, Captrust Financial Advisors grew its position 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 buying an additional 2,915 shares in the last quarter. Institutional investors and hedge funds own 64.23% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on LEG shares. Wall Street Zen downgraded Leggett & Platt from a "buy" rating to a "hold" rating in a research report on Saturday, August 2nd. Piper Sandler reissued a "neutral" rating and set a $9.00 price target (down previously from $10.00) on shares of Leggett & Platt in a research report on Monday, August 4th. Zacks Research downgraded Leggett & Platt from a "hold" rating to a "strong sell" rating in a research report on Monday, August 18th. Finally, The Goldman Sachs Group increased their price target on Leggett & Platt from $8.00 to $9.00 and gave the stock a "neutral" rating in a research report on Wednesday, April 30th. Three equities research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, Leggett & Platt has a consensus rating of "Reduce" and an average target price of $9.67.

Leggett & Platt Price Performance

Shares of LEG stock traded up $0.5350 during trading hours on Friday, reaching $9.6550. The company's stock had a trading volume of 1,810,149 shares, compared to its average volume of 1,868,878. The firm's 50 day simple moving average is $9.47 and its 200-day simple moving average is $8.93. The company has a market capitalization of $1.31 billion, a price-to-earnings ratio of 9.37 and a beta of 0.70. 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 quick ratio of 1.36, a current ratio of 2.17 and a debt-to-equity ratio of 2.09.

Leggett & Platt (NYSE:LEG - Get Free Report) last issued its earnings results on Thursday, July 31st. The company reported $0.30 earnings per share for the quarter, beating analysts' consensus estimates of $0.29 by $0.01. The firm had revenue of $1.06 billion for the quarter, compared to the consensus estimate of $1.06 billion. Leggett & Platt had a return on equity of 19.42% and a net margin of 3.36%.The company's revenue was down 6.3% compared to the same quarter last year. During the same quarter last year, the business posted $0.29 EPS. Leggett & Platt has set its FY 2025 guidance at 1.000-1.200 EPS. Sell-side analysts forecast that Leggett & Platt, Incorporated will post 1.14 earnings per share for the current year.

Leggett & Platt Announces Dividend

The firm 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. This represents a $0.20 dividend on an annualized basis and a dividend yield of 2.1%. The ex-dividend date of this dividend is Monday, September 15th. Leggett & Platt's dividend payout ratio (DPR) is currently 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.