Segall Bryant & Hamill LLC Invests $1.10 Million in Leggett & Platt, Incorporated $LEG

Key Points

• Segall Bryant & Hamill acquired 110,927 Leggett & Platt shares worth approximately $1.10 million, giving it an estimated 0.08% stake. Institutional investors collectively own 64.23% of the company.
• Analysts remain cautious: Leggett & Platt has an average “Hold” rating and an $11.33 average price target. The company recently missed quarterly earnings and revenue expectations, with revenue down 10.2% year over year.
• Leggett & Platt declared a quarterly dividend of $0.05 per share, equivalent to $0.20 annually and a 1.9% yield; shares recently traded at $10.29.

Segall Bryant & Hamill LLC acquired a new stake in shares of Leggett & Platt, Incorporated (NYSE:LEG - Free Report) during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 110,927 shares of the company's stock, valued at approximately $1,096,000. Segall Bryant & Hamill LLC owned approximately 0.08% of Leggett & Platt as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. Royal Bank of Canada boosted its position in Leggett & Platt by 59.5% during the 1st quarter. Royal Bank of Canada now owns 47,054 shares of the company's stock valued at $372,000 after acquiring an additional 17,561 shares in the last quarter. Jones Financial Companies Lllp raised its position in shares of Leggett & Platt by 8.4% in the 1st quarter. Jones Financial Companies Lllp now owns 14,661 shares of the company's stock worth $116,000 after acquiring an additional 1,132 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in shares of Leggett & Platt by 3.0% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 454,096 shares of the company's stock worth $3,592,000 after acquiring an additional 13,187 shares in the last quarter. Jane Street Group LLC lifted its stake in shares of Leggett & Platt by 36.3% during the 1st quarter. Jane Street Group LLC now owns 1,175,452 shares of the company's stock worth $9,298,000 after purchasing an additional 312,840 shares during the last quarter. Finally, Acadian Asset Management LLC lifted its stake in shares of Leggett & Platt by 113.5% during the 1st quarter. Acadian Asset Management LLC now owns 109,638 shares of the company's stock worth $866,000 after purchasing an additional 58,292 shares during the last quarter. 64.23% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

LEG has been the topic of several analyst reports. Weiss Ratings lowered Leggett & Platt from a "hold (c)" rating to a "hold (c-)" rating in a research note on Wednesday, July 29th. Truist Financial lowered their price target on shares of Leggett & Platt from $13.00 to $11.00 and set a "hold" rating on the stock in a report on Friday, May 8th. Finally, Zacks Research raised shares of Leggett & Platt from a "strong sell" rating to a "hold" rating in a research report on Monday, July 20th. Five investment analysts have rated the stock with a Hold rating, Based on data from MarketBeat, Leggett & Platt presently has an average rating of "Hold" and an average target price of $11.33.

Leggett & Platt Trading Down 1.7%

NYSE LEG opened at $10.29 on Thursday. Leggett & Platt, Incorporated has a 12-month low of $8.32 and a 12-month high of $13.00. The company has a fifty day simple moving average of $10.79 and a two-hundred day simple moving average of $10.90. The company has a current ratio of 2.33, a quick ratio of 1.45 and a debt-to-equity ratio of 1.44. The stock has a market cap of $1.40 billion, a P/E ratio of 6.39 and a beta of 0.73.

Leggett & Platt (NYSE:LEG - Get Free Report) last announced its quarterly earnings data on Thursday, May 7th. The company reported $0.15 earnings per share for the quarter, missing analysts' consensus estimates of $0.26 by ($0.11). The company had revenue of $918.20 million for the quarter, compared to analysts' expectations of $946.79 million. Leggett & Platt had a net margin of 5.69% and a return on equity of 12.62%. Leggett & Platt's quarterly revenue was down 10.2% compared to the same quarter last year. During the same period last year, the firm earned $0.24 earnings per share. On average, analysts forecast that Leggett & Platt, Incorporated will post 0.9 earnings per share for the current year.

Leggett & Platt Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, August 24th. Shareholders of record on Monday, August 10th will be paid a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a yield of 1.9%. The ex-dividend date is Monday, August 10th. Leggett & Platt's payout ratio is presently 12.42%.

Leggett & Platt Company Profile

Leggett & Platt, Inc is a diversified manufacturer specializing in the design, engineering and production of a wide range of engineered components and products. The company's offerings span several end markets, including residential bedding, commercial and residential furniture, automotive seating and interiors, aerospace applications and industrial products. By integrating product design with proprietary manufacturing processes, Leggett & Platt serves as a key supplier to both original equipment manufacturers and aftermarket distributors.

The company's core product lines include coil springs and support systems for mattresses and furniture, adjustable bed mechanisms, engineered components such as extruded and formed metal products, and specialty foam and bedding products.

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