Harbor Capital Advisors Inc. Purchases 12,478 Shares of Leggett & Platt, Incorporated $LEG

Harbor Capital Advisors Inc. increased its position in Leggett & Platt, Incorporated (NYSE:LEG) by 46.6% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 39,245 shares of the company’s stock after buying an additional 12,478 shares during the quarter. Harbor Capital Advisors Inc.’s holdings in Leggett & Platt were worth $350,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of the company. Parallel Advisors LLC increased its stake in Leggett & Platt by 385.3% in the 2nd quarter. Parallel Advisors LLC now owns 11,229 shares of the company’s stock worth $100,000 after purchasing an additional 8,915 shares during the period. State of Wyoming purchased a new position in shares of Leggett & Platt during the first quarter valued at approximately $89,000. Banco Bilbao Vizcaya Argentaria S.A. purchased a new position in shares of Leggett & Platt during the first quarter valued at approximately $102,000. Captrust Financial Advisors increased its stake 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. Finally, Janney Montgomery Scott LLC purchased a new stake in Leggett & Platt in the first quarter worth $107,000. Institutional investors own 64.23% of the company’s stock.

Leggett & Platt Price Performance

Shares of Leggett & Platt stock opened at $9.38 on Friday. The firm has a market cap of $1.27 billion, a PE ratio of 9.11 and a beta of 0.70. Leggett & Platt, Incorporated has a 12 month low of $6.47 and a 12 month high of $14.23. The stock has a 50 day moving average of $9.55 and a 200 day moving average of $8.93. The company has a current ratio of 2.17, a quick ratio of 1.36 and a debt-to-equity ratio of 2.09.

Leggett & Platt (NYSE:LEG) last issued its quarterly 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. The firm had revenue of $1.06 billion during the quarter, compared to analyst estimates of $1.06 billion. Leggett & Platt had a return on equity of 19.42% and a net margin of 3.36%.Leggett & Platt’s quarterly revenue was down 6.3% compared to the same quarter last year. During the same period last year, the company earned $0.29 EPS. Leggett & Platt has set its FY 2025 guidance at 1.000-1.200 EPS. On average, 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. Stockholders of record on Monday, September 15th will be issued a $0.05 dividend. This represents a $0.20 annualized dividend and a dividend yield of 2.1%. The ex-dividend date of this dividend is Monday, September 15th. Leggett & Platt’s payout ratio is 19.42%.

Analyst Ratings Changes

Several equities research analysts have commented on LEG shares. Wall Street Zen downgraded Leggett & Platt from a “buy” rating to a “hold” rating in a report on Saturday, August 2nd. Piper Sandler reaffirmed a “neutral” rating and set a $9.00 price target (down from $10.00) on shares of Leggett & Platt in a report on Monday, August 4th. Finally, Zacks Research downgraded Leggett & Platt from a “hold” rating to a “strong sell” rating in a report on Monday, August 18th. Three research analysts have rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Reduce” and a consensus price target 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.