Vanguard Group Inc. Has $131.18 Million Stock Holdings in Leggett & Platt, Incorporated $LEG

Key Points

• Vanguard Group Inc. increased its stake in Leggett & Platt by 7.1%, owning 16,583,732 shares valued at approximately $131.18 million as of the end of the recent quarter.
• Leggett & Platt recently announced a quarterly dividend of $0.05 per share, translating to a 2.2% annual yield, with the payment scheduled for October 15.
• Brokerages have lowered their ratings on Leggett & Platt, with Piper Sandler recently issuing a neutral rating and a reduced target price of $9.00.

Vanguard Group Inc. increased its holdings in shares of Leggett & Platt, Incorporated (NYSE:LEG - Free Report) by 7.1% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 16,583,732 shares of the company's stock after acquiring an additional 1,105,256 shares during the quarter. Vanguard Group Inc. owned approximately 12.31% of Leggett & Platt worth $131,177,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in the company. Invesco Ltd. grew its stake in shares of Leggett & Platt by 6.5% in the 4th quarter. Invesco Ltd. now owns 803,440 shares of the company's stock worth $7,713,000 after buying an additional 48,925 shares during the last quarter. Raymond James Financial Inc. bought a new stake in shares of Leggett & Platt in the fourth quarter worth about $575,000. Sterling Capital Management LLC increased its stake in Leggett & Platt by 17.1% during the fourth quarter. Sterling Capital Management LLC now owns 7,972 shares of the company's stock worth $77,000 after acquiring an additional 1,163 shares during the last quarter. Barclays PLC boosted its position in shares of Leggett & Platt by 11.1% during the fourth quarter. Barclays PLC now owns 101,453 shares of the company's stock valued at $973,000 after buying an additional 10,109 shares during the period. Finally, Marshall Wace LLP purchased a new stake in shares of Leggett & Platt in the fourth quarter valued at approximately $5,858,000. 64.23% of the stock is currently owned by institutional investors.

Leggett & Platt Trading Up 1.6%

NYSE:LEG traded up $0.16 during trading hours on Tuesday, reaching $9.83. 626,451 shares of the company were exchanged, compared to its average volume of 2,450,792. The company has a debt-to-equity ratio of 2.09, a current ratio of 2.17 and a quick ratio of 1.36. The firm has a market cap of $1.33 billion, a price-to-earnings ratio of 9.61 and a beta of 0.70. Leggett & Platt, Incorporated has a 52-week low of $6.47 and a 52-week high of $14.23. The stock has a 50 day simple moving average of $9.48 and a 200 day simple moving average of $8.92.

Leggett & Platt (NYSE:LEG - Get Free Report) last posted its quarterly earnings data on Thursday, July 31st. The company reported $0.30 EPS 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 net margin of 3.36% and a return on equity of 19.42%. The firm's revenue was down 6.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.29 EPS. Leggett & Platt has set its FY 2025 guidance at 1.000-1.200 EPS. As a group, analysts predict that Leggett & Platt, Incorporated will post 1.14 EPS for the current year.

Leggett & Platt Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 15th. Stockholders of record on Monday, September 15th will be paid a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a dividend yield of 2.0%. The ex-dividend date is Monday, September 15th. Leggett & Platt's payout ratio is presently 19.42%.

Analyst Upgrades and Downgrades

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

About Leggett & Platt

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.