Leggett & Platt, Incorporated $LEG Stake Increased by Amundi

Amundi grew its holdings in Leggett & Platt, Incorporated (NYSE:LEG) by 241.4% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 283,000 shares of the company’s stock after purchasing an additional 200,110 shares during the period. Amundi owned approximately 0.21% of Leggett & Platt worth $2,103,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of LEG. Cubist Systematic Strategies LLC lifted its holdings in shares of Leggett & Platt by 1,495.6% in the first quarter. Cubist Systematic Strategies LLC now owns 1,539,758 shares of the company’s stock valued at $12,179,000 after purchasing an additional 1,443,257 shares in the last quarter. Vanguard Group Inc. lifted its position in Leggett & Platt by 7.1% in the 1st quarter. Vanguard Group Inc. now owns 16,583,732 shares of the company’s stock worth $131,177,000 after buying an additional 1,105,256 shares in the last quarter. Canada Pension Plan Investment Board lifted its position in Leggett & Platt by 15,000.0% in the 1st quarter. Canada Pension Plan Investment Board now owns 634,200 shares of the company’s stock worth $5,017,000 after buying an additional 630,000 shares in the last quarter. Seven Six Capital Management LLC purchased a new stake in Leggett & Platt in the 4th quarter worth approximately $5,627,000. Finally, Point72 Asset Management L.P. purchased a new stake in Leggett & Platt in the 4th quarter worth approximately $4,789,000. Hedge funds and other institutional investors own 64.23% of the company’s stock.

Leggett & Platt Stock Performance

Shares of LEG opened at $9.93 on Friday. The company’s fifty day moving average is $9.60 and its 200-day moving average is $8.92. Leggett & Platt, Incorporated has a 12 month low of $6.47 and a 12 month high of $14.23. The firm has a market cap of $1.34 billion, a price-to-earnings ratio of 9.64 and a beta of 0.70. 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 (NYSE:LEG) last announced its quarterly earnings results on Thursday, July 31st. The company reported $0.30 EPS for the quarter, topping the consensus estimate 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 for the quarter, compared to analyst estimates of $1.06 billion. During the same quarter in the prior year, the business posted $0.29 EPS. Leggett & Platt’s quarterly revenue was down 6.3% on a year-over-year basis. Leggett & Platt has set its FY 2025 guidance at 1.000-1.200 EPS. Equities analysts expect that Leggett & Platt, Incorporated will post 1.14 EPS for the current fiscal year.

Leggett & Platt Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 15th. Investors of record on Monday, September 15th will be paid 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 2.0%. Leggett & Platt’s dividend payout ratio (DPR) is presently 19.42%.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on LEG shares. Piper Sandler reiterated a “neutral” rating and issued a $9.00 target price (down previously from $10.00) on shares of Leggett & Platt in a research report on Monday, August 4th. Zacks Research downgraded shares of Leggett & Platt from a “hold” rating to a “strong sell” rating in a research report on Monday, August 18th. 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 issued a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Reduce” and a consensus target price of $9.67.

Leggett & Platt Company 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.