Leggett & Platt, Incorporated $LEG Position Trimmed by Russell Investments Group Ltd.

Russell Investments Group Ltd. trimmed its holdings in shares of Leggett & Platt, Incorporated (NYSE:LEG) by 1.3% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 345,827 shares of the company’s stock after selling 4,597 shares during the period. Russell Investments Group Ltd. owned about 0.26% of Leggett & Platt worth $2,736,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in the business. Public Sector Pension Investment Board boosted its holdings in Leggett & Platt by 27.4% during the first quarter. Public Sector Pension Investment Board now owns 426,212 shares of the company’s stock worth $3,371,000 after buying an additional 91,641 shares in the last quarter. Nuveen LLC bought a new stake in Leggett & Platt during the first quarter worth approximately $3,929,000. Invesco Ltd. boosted its holdings in Leggett & Platt by 19.6% during the first quarter. Invesco Ltd. now owns 961,228 shares of the company’s stock worth $7,603,000 after buying an additional 157,788 shares in the last quarter. Lcnb Corp bought a new stake in Leggett & Platt during the first quarter worth approximately $247,000. Finally, Connor Clark & Lunn Investment Management Ltd. boosted its holdings in Leggett & Platt by 13.2% during the first quarter. Connor Clark & Lunn Investment Management Ltd. now owns 611,682 shares of the company’s stock worth $4,838,000 after buying an additional 71,179 shares in the last quarter. 64.23% of the stock is currently owned by institutional investors.

Leggett & Platt Stock Up 5.9%

LEG stock opened at $9.6550 on Monday. Leggett & Platt, Incorporated has a 12-month low of $6.47 and a 12-month 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 company has a market cap of $1.31 billion, a price-to-earnings ratio of 9.37 and a beta of 0.70. The company has a 50 day moving average of $9.47 and a two-hundred day moving average of $8.93.

Leggett & Platt (NYSE:LEG) last released its earnings results on Thursday, July 31st. The company reported $0.30 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.29 by $0.01. Leggett & Platt had a net margin of 3.36% and a return on equity of 19.42%. The company had revenue of $1.06 billion during the quarter, compared to the consensus estimate of $1.06 billion. During the same quarter in the prior year, the firm earned $0.29 EPS. The company’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 analysts anticipate that Leggett & Platt, Incorporated will post 1.14 earnings per share for the current fiscal year.

Leggett & Platt Dividend Announcement

The business also recently announced 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. The ex-dividend date is Monday, September 15th. This represents a $0.20 dividend on an annualized basis and a yield of 2.1%. Leggett & Platt’s dividend payout ratio is presently 19.42%.

Analyst Ratings Changes

A number of brokerages recently weighed in on LEG. The Goldman Sachs Group raised their target price on shares of Leggett & Platt from $8.00 to $9.00 and gave the stock a “neutral” rating in a report on Wednesday, April 30th. Piper Sandler reaffirmed a “neutral” rating and issued a $9.00 price objective (down previously from $10.00) on shares of Leggett & Platt in a research note on Monday, August 4th. Zacks Research lowered shares of Leggett & Platt from a “hold” rating to a “strong sell” rating in a research note on Monday, August 18th. Finally, Wall Street Zen lowered 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 company has a consensus 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.