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

Key Points

• Leggett & Platt, Incorporated has received an average rating of "Reduce" from five brokerages, with two ratings for sell and three for hold.
• The company's stock is currently priced at $9.00 per share, with a 12-month price objective averaging around $9.67.
• Leggett & Platt announced a quarterly dividend of $0.05 per share, representing an annual yield of 2.2% and a payout ratio of 19.42%.

Leggett & Platt, Incorporated (NYSE:LEG - Get Free Report) has been assigned an average rating of "Reduce" from the five brokerages that are covering the company, MarketBeat.com reports. Two equities research analysts have rated the stock with a sell rating and three have issued a hold rating on the company. The average 12 month price objective among brokerages that have issued a report on the stock in the last year is $9.6667.

LEG has been the topic of several recent research reports. Piper Sandler reaffirmed a "neutral" rating and set a $9.00 price objective (down from $10.00) on shares of Leggett & Platt in a report on Monday, August 4th. Zacks Research lowered Leggett & Platt from a "hold" rating to a "strong sell" rating in a report on Monday, August 18th. Weiss Ratings restated a "sell (d)" rating on shares of Leggett & Platt in a report on Saturday, September 27th. Finally, Wall Street Zen lowered Leggett & Platt from a "buy" rating to a "hold" rating in a report on Saturday, August 2nd.

Hedge Funds Weigh In On Leggett & Platt

Several hedge funds have recently bought and sold shares of the business. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in shares of Leggett & Platt by 13.3% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 440,909 shares of the company's stock worth $4,233,000 after buying an additional 51,841 shares in the last quarter. Wealth Enhancement Advisory Services LLC grew its position in shares of Leggett & Platt by 114.4% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 84,103 shares of the company's stock worth $807,000 after buying an additional 44,876 shares in the last quarter. GAMMA Investing LLC grew its position in shares of Leggett & Platt by 653.3% during the 1st quarter. GAMMA Investing LLC now owns 92,666 shares of the company's stock worth $733,000 after buying an additional 80,364 shares in the last quarter. Farther Finance Advisors LLC grew its position in shares of Leggett & Platt by 5,239.0% during the 1st quarter. Farther Finance Advisors LLC now owns 19,327 shares of the company's stock worth $152,000 after buying an additional 18,965 shares in the last quarter. Finally, Harbor Capital Advisors Inc. bought a new position in shares of Leggett & Platt during the 1st quarter worth $212,000. Institutional investors own 64.23% of the company's stock.

Leggett & Platt Price Performance

NYSE LEG traded up $0.17 during trading hours on Friday, reaching $9.00. The company's stock had a trading volume of 1,668,359 shares, compared to its average volume of 2,369,124. The firm's 50-day moving average price is $9.34 and its 200-day moving average price is $8.97. The company has a quick ratio of 1.36, a current ratio of 2.17 and a debt-to-equity ratio of 2.09. Leggett & Platt has a 1 year low of $6.47 and a 1 year high of $13.62. The company has a market capitalization of $1.22 billion, a price-to-earnings ratio of 8.73 and a beta of 0.72.

Leggett & Platt (NYSE:LEG - Get Free Report) last posted its quarterly earnings results on Thursday, July 31st. The company reported $0.30 EPS for the quarter, topping analysts' consensus estimates of $0.29 by $0.01. Leggett & Platt had a return on equity of 19.42% and a net margin of 3.36%.The company had revenue of $1.06 billion for the quarter, compared to analysts' expectations of $1.06 billion. During the same period in the previous year, the firm earned $0.29 EPS. The firm's 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, equities research analysts predict that Leggett & Platt will post 1.14 EPS for the current fiscal year.

Leggett & Platt Dividend Announcement

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

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.

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