Leggett & Platt, Incorporated (NYSE:LEG) Given Average Rating of "Reduce" by Brokerages

Key Points

• Five brokerages give Leggett & Platt a consensus rating of Reduce (one sell, four hold) with an average 1‑year target of $11.67.
• Latest quarter: EPS of $0.22 matched estimates while revenue declined 11.2% year‑over‑year; the stock trades around $12.05 with a PE of 7.14 and a market cap of about $1.64 billion.
• The company pays a quarterly dividend of $0.05 (annualized $0.20) for a ~1.7% yield, and institutional investors own roughly 64.2% of the shares.

Shares of Leggett & Platt, Incorporated (NYSE:LEG - Get Free Report) have earned a consensus rating of "Reduce" from the five brokerages that are currently covering the firm, Marketbeat.com reports. One investment analyst has rated the stock with a sell recommendation and four have given a hold recommendation to the company. The average 1 year target price among brokers that have updated their coverage on the stock in the last year is $11.6667.

Several equities research analysts recently weighed in on the company. Wall Street Zen lowered Leggett & Platt from a "buy" rating to a "hold" rating in a report on Saturday, February 21st. Weiss Ratings downgraded Leggett & Platt from a "hold (c-)" rating to a "sell (d+)" rating in a report on Monday, March 16th.

Leggett & Platt Trading Up 0.5%

NYSE LEG opened at $12.05 on Tuesday. The company has a current ratio of 2.25, a quick ratio of 1.45 and a debt-to-equity ratio of 1.46. Leggett & Platt has a 1-year low of $6.93 and a 1-year high of $13.00. The firm's fifty day simple moving average is $10.80 and its 200-day simple moving average is $10.65. The company has a market capitalization of $1.64 billion, a PE ratio of 7.14 and a beta of 0.74.

Leggett & Platt (NYSE:LEG - Get Free Report) last posted its earnings results on Wednesday, February 11th. The company reported $0.22 EPS for the quarter, hitting the consensus estimate of $0.22. The company had revenue of $938.60 million during the quarter, compared to the consensus estimate of $938.74 million. Leggett & Platt had a net margin of 5.80% and a return on equity of 15.00%. The company's revenue for the quarter was down 11.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.21 earnings per share. As a group, sell-side analysts anticipate that Leggett & Platt will post 1.08 earnings per share for the current fiscal year.

Leggett & Platt Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, April 15th. Investors of record on Friday, March 13th were issued a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a dividend yield of 1.7%. The ex-dividend date of this dividend was Friday, March 13th. Leggett & Platt's dividend payout ratio is currently 11.83%.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of LEG. Vanguard Group Inc. boosted its holdings in Leggett & Platt by 1.5% during the fourth quarter. Vanguard Group Inc. now owns 18,990,042 shares of the company's stock valued at $208,890,000 after acquiring an additional 282,940 shares during the period. Geode Capital Management LLC increased its stake in shares of Leggett & Platt by 6.1% in the fourth quarter. Geode Capital Management LLC now owns 3,173,733 shares of the company's stock worth $34,917,000 after purchasing an additional 183,218 shares during the period. Invenomic Capital Management LP increased its stake in shares of Leggett & Platt by 4.0% in the fourth quarter. Invenomic Capital Management LP now owns 2,437,519 shares of the company's stock worth $26,813,000 after purchasing an additional 93,213 shares during the period. Charles Schwab Investment Management Inc. lifted its position in shares of Leggett & Platt by 4.9% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,123,623 shares of the company's stock worth $23,360,000 after purchasing an additional 98,430 shares during the last quarter. Finally, Wellington Management Group LLP boosted its stake in Leggett & Platt by 1.3% during the 4th quarter. Wellington Management Group LLP now owns 2,102,190 shares of the company's stock valued at $23,124,000 after purchasing an additional 27,273 shares during the period. Institutional investors own 64.23% of the company's stock.

About Leggett & Platt

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.