Rhumbline Advisers Decreases Stock Holdings in Leggett & Platt, Incorporated $LEG

Rhumbline Advisers decreased its position in Leggett & Platt, Incorporated (NYSE:LEG) by 3.0% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 316,659 shares of the company’s stock after selling 9,914 shares during the quarter. Rhumbline Advisers owned approximately 0.23% of Leggett & Platt worth $2,505,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of LEG. Captrust Financial Advisors increased its position in shares of Leggett & Platt by 27.5% during the fourth quarter. Captrust Financial Advisors now owns 13,521 shares of the company’s stock valued at $130,000 after buying an additional 2,915 shares during the period. Deutsche Bank AG increased its position in shares of Leggett & Platt by 3.2% during the fourth quarter. Deutsche Bank AG now owns 67,319 shares of the company’s stock valued at $646,000 after buying an additional 2,109 shares during the period. Nuveen Asset Management LLC increased its position in shares of Leggett & Platt by 20.4% during the fourth quarter. Nuveen Asset Management LLC now owns 305,875 shares of the company’s stock valued at $2,936,000 after buying an additional 51,733 shares during the period. Man Group plc purchased a new position in shares of Leggett & Platt during the fourth quarter valued at about $2,730,000. Finally, Quantinno Capital Management LP increased its position in shares of Leggett & Platt by 72.1% during the fourth quarter. Quantinno Capital Management LP now owns 181,960 shares of the company’s stock valued at $1,747,000 after buying an additional 76,206 shares during the period. Hedge funds and other institutional investors own 64.23% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have weighed in on LEG. Zacks Research cut shares of Leggett & Platt from a “hold” rating to a “strong sell” rating in a report on Monday, August 18th. Wall Street Zen cut shares of Leggett & Platt from a “buy” rating to a “hold” rating in a report on Saturday, August 2nd. Finally, Piper Sandler restated a “neutral” rating and issued a $9.00 price objective (down previously from $10.00) on shares of Leggett & Platt in a report on Monday, August 4th. Three investment analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Leggett & Platt has an average rating of “Reduce” and a consensus target price of $9.67.

Leggett & Platt Trading Up 1.2%

Shares of NYSE LEG opened at $9.53 on Wednesday. The firm’s 50 day moving average price is $9.59 and its 200-day moving average price is $8.92. The company has a market cap of $1.29 billion, a PE ratio of 9.25 and a beta of 0.70. Leggett & Platt, Incorporated has a 52-week low of $6.47 and a 52-week high of $14.23. The company has a debt-to-equity ratio of 2.09, a quick ratio of 1.36 and a current ratio of 2.17.

Leggett & Platt (NYSE:LEG) last issued its earnings results on Thursday, July 31st. The company reported $0.30 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.29 by $0.01. The firm had revenue of $1.06 billion for the quarter, compared to the consensus estimate of $1.06 billion. Leggett & Platt had a net margin of 3.36% and a return on equity of 19.42%. The business’s revenue was down 6.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.29 earnings per share. Leggett & Platt has set its FY 2025 guidance at 1.000-1.200 EPS. On average, equities research analysts expect that Leggett & Platt, Incorporated will post 1.14 EPS for the current fiscal year.

Leggett & Platt Announces Dividend

The business also recently disclosed 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 dividend on an annualized basis and a yield of 2.1%. Leggett & Platt’s dividend payout ratio is 19.42%.

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.