American Century Companies Inc. Raises Position in Leggett & Platt, Incorporated $LEG

American Century Companies Inc. increased its position in Leggett & Platt, Incorporated (NYSE:LEG) by 18.4% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 164,600 shares of the company’s stock after acquiring an additional 25,628 shares during the period. American Century Companies Inc. owned about 0.12% of Leggett & Platt worth $1,302,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Janney Montgomery Scott LLC bought a new stake in shares of Leggett & Platt in the 1st quarter worth $107,000. Blueshift Asset Management LLC purchased a new stake in shares of Leggett & Platt during the first quarter valued at $128,000. Captrust Financial Advisors increased its holdings in Leggett & Platt by 27.5% in the 4th quarter. Captrust Financial Advisors now owns 13,521 shares of the company’s stock worth $130,000 after buying an additional 2,915 shares in the last quarter. Susquehanna Fundamental Investments LLC purchased a new position in Leggett & Platt in the 4th quarter worth about $131,000. Finally, Farther Finance Advisors LLC lifted its stake in Leggett & Platt by 5,239.0% during the 1st quarter. Farther Finance Advisors LLC now owns 19,327 shares of the company’s stock valued at $152,000 after acquiring an additional 18,965 shares during the period. 64.23% of the stock is owned by institutional investors.

Leggett & Platt Stock Performance

LEG opened at $9.31 on Wednesday. The company has a current ratio of 2.17, a quick ratio of 1.36 and a debt-to-equity ratio of 2.09. The company has a market cap of $1.26 billion, a price-to-earnings ratio of 9.03 and a beta of 0.70. The company’s 50 day moving average is $9.53 and its 200 day moving average is $8.91. Leggett & Platt, Incorporated has a 12-month low of $6.47 and a 12-month high of $14.23.

Leggett & Platt (NYSE:LEG) last announced its earnings results on Thursday, July 31st. The company reported $0.30 EPS for the quarter, beating analysts’ consensus estimates of $0.29 by $0.01. The business had revenue of $1.06 billion during the quarter, compared to analysts’ expectations 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% on a year-over-year basis. During the same period in the prior year, the company earned $0.29 earnings per share. Leggett & Platt has set its FY 2025 guidance at 1.000-1.200 EPS. On average, equities research analysts predict that Leggett & Platt, Incorporated will post 1.14 EPS for the current year.

Leggett & Platt Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 15th. Investors of record on Monday, September 15th will be given a dividend of $0.05 per share. The ex-dividend date is Monday, September 15th. This represents a $0.20 annualized dividend and a yield of 2.1%. Leggett & Platt’s payout ratio is 19.42%.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on LEG. Zacks Research downgraded shares of Leggett & Platt from a “hold” rating to a “strong sell” rating in a report on Monday, August 18th. Piper Sandler restated a “neutral” rating and issued a $9.00 target price (down previously from $10.00) on shares of Leggett & Platt in a report on Monday, August 4th. Finally, Wall Street Zen downgraded shares of Leggett & Platt from a “buy” rating to a “hold” rating in a research report on Saturday, August 2nd. Three equities research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Reduce” and an average target price 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.