Versor Investments LP Takes $234,000 Position in Leggett & Platt, Incorporated $LEG

Key Points

• Versor Investments LP has acquired a new stake in Leggett & Platt, purchasing 29,597 shares worth approximately $234,000 during the first quarter.
• A variety of institutional investors, including Janney Montgomery Scott LLC and Coldstream Capital Management Inc., have recently adjusted their positions in Leggett & Platt, contributing to its institutional ownership of over 64%.
• Leggett & Platt reported a $0.30 EPS in its latest earnings, slightly beating estimates, while also announcing a quarterly dividend of $0.05 per share, reflecting a 2.1% yield.

Versor Investments LP purchased a new stake in shares of Leggett & Platt, Incorporated (NYSE:LEG - Free Report) during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 29,597 shares of the company's stock, valued at approximately $234,000.

Other institutional investors have also added to or reduced their stakes in the company. Coldstream Capital Management Inc. bought a new position in shares of Leggett & Platt during the 4th quarter worth approximately $111,000. Captrust Financial Advisors increased its position in shares of Leggett & Platt by 27.5% during the fourth quarter. Captrust Financial Advisors now owns 13,521 shares of the company's stock valued at $130,000 after acquiring an additional 2,915 shares during the last quarter. Janney Montgomery Scott LLC bought a new stake in Leggett & Platt during the first quarter worth $107,000. Susquehanna Fundamental Investments LLC bought a new stake in Leggett & Platt during the fourth quarter worth $131,000. Finally, Blueshift Asset Management LLC purchased a new position in Leggett & Platt in the first quarter worth $128,000. 64.23% of the stock is owned by institutional investors.

Leggett & Platt Stock Performance

NYSE:LEG traded down $0.11 on Thursday, reaching $9.63. 260,225 shares of the company's stock were exchanged, compared to its average volume of 2,442,633. The firm has a market cap of $1.30 billion, a price-to-earnings ratio of 9.34 and a beta of 0.70. 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 stock has a fifty day simple moving average of $9.51 and a 200-day simple moving average of $8.94. Leggett & Platt, Incorporated has a 52 week low of $6.47 and a 52 week high of $14.23.

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

Leggett & Platt Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 15th. Stockholders 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 presently 19.42%.

Analyst Upgrades and Downgrades

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