Trexquant Investment LP Increases Stock Holdings in Leggett & Platt, Incorporated $LEG

Key Points

• Trexquant Investment LP increased its stake in Leggett & Platt by 31.8%, acquiring an additional 374,073 shares and now holding approximately 1.15% of the company valued at $12.3 million.
• Leggett & Platt recently announced a quarterly dividend of $0.05 per share, translating to an annualized yield of 2.1%.
• The company reported earnings of $0.30 per share for the recent quarter, exceeding analyst expectations and setting its FY 2025 guidance at 1.000-1.200 EPS.

Trexquant Investment LP lifted its holdings in shares of Leggett & Platt, Incorporated (NYSE:LEG - Free Report) by 31.8% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,551,964 shares of the company's stock after purchasing an additional 374,073 shares during the period. Trexquant Investment LP owned 1.15% of Leggett & Platt worth $12,276,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently made changes to their positions in the stock. Jane Street Group LLC grew its holdings in 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 acquiring an additional 312,840 shares during the period. Campbell & CO Investment Adviser LLC grew its stake in Leggett & Platt by 22.2% during the first quarter. Campbell & CO Investment Adviser LLC now owns 265,357 shares of the company's stock worth $2,099,000 after purchasing an additional 48,245 shares during the period. Jump Financial LLC increased its holdings in Leggett & Platt by 169.7% in the first quarter. Jump Financial LLC now owns 437,710 shares of the company's stock worth $3,462,000 after purchasing an additional 275,443 shares in the last quarter. Hotchkis & Wiley Capital Management LLC lifted its stake in Leggett & Platt by 70.5% in the first quarter. Hotchkis & Wiley Capital Management LLC now owns 986,990 shares of the company's stock valued at $7,807,000 after buying an additional 408,210 shares during the period. Finally, AlphaQuest LLC boosted its holdings in shares of Leggett & Platt by 156.4% during the 1st quarter. AlphaQuest LLC now owns 68,848 shares of the company's stock worth $545,000 after buying an additional 41,996 shares in the last quarter. 64.23% of the stock is currently owned by institutional investors.

Leggett & Platt Stock Down 0.6%

Leggett & Platt stock traded down $0.05 during midday trading on Wednesday, hitting $9.26. 402,646 shares of the stock were exchanged, compared to its average volume of 2,425,132. Leggett & Platt, Incorporated has a 52-week low of $6.47 and a 52-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. The business's 50-day moving average price is $9.53 and its 200-day moving average price is $8.91. The stock has a market capitalization of $1.25 billion, a price-to-earnings ratio of 8.98 and a beta of 0.70.

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, topping the consensus estimate 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 firm 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. On average, research analysts expect that Leggett & Platt, Incorporated will post 1.14 EPS for the current fiscal year.

Leggett & Platt Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 15th. Stockholders of record on Monday, September 15th will be paid a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a dividend yield of 2.2%. The ex-dividend date is Monday, September 15th. Leggett & Platt's payout ratio is presently 19.42%.

Analyst Ratings Changes

A number of research analysts recently issued reports on the stock. Wall Street Zen downgraded shares of Leggett & Platt from a "buy" rating to a "hold" rating in a research report on Saturday, August 2nd. Piper Sandler reiterated a "neutral" rating and set a $9.00 price objective (down previously from $10.00) on shares of Leggett & Platt in a report on Monday, August 4th. Finally, Zacks Research downgraded Leggett & Platt from a "hold" rating to a "strong sell" rating in a research note on Monday, August 18th. Three investment analysts have rated the stock with a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, Leggett & Platt has a consensus rating of "Reduce" and a consensus target price 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.