American National Bank & Trust Makes New $104,000 Investment in Leggett & Platt, Incorporated $LEG

American National Bank & Trust bought a new position in shares of Leggett & Platt, Incorporated (NYSE:LEG) in the 2nd quarter, according to its most recent 13F filing with the SEC. The fund bought 11,700 shares of the company’s stock, valued at approximately $104,000.

A number of other large investors have also recently bought and sold shares of LEG. State of Wyoming bought a new stake in Leggett & Platt in the 1st quarter valued at $89,000. SeaCrest Wealth Management LLC acquired a new stake in shares of Leggett & Platt during the 2nd quarter worth $89,000. Parallel Advisors LLC grew its holdings in shares of Leggett & Platt by 385.3% during 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 in the last quarter. Banco Bilbao Vizcaya Argentaria S.A. acquired a new stake in Leggett & Platt in the first quarter valued at about $102,000. Finally, Janney Montgomery Scott LLC acquired a new stake in Leggett & Platt in the first quarter valued at about $107,000. Institutional investors and hedge funds own 64.23% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on LEG shares. Zacks Research downgraded Leggett & Platt from a “hold” rating to a “strong sell” rating in a research report on Monday, August 18th. Wall Street Zen cut Leggett & Platt from a “buy” rating to a “hold” rating in a research note on Saturday, August 2nd. Finally, Piper Sandler reaffirmed a “neutral” rating and set a $9.00 target price (down previously from $10.00) on shares of Leggett & Platt in a research note on Monday, August 4th. Three equities research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Reduce” and a consensus price target of $9.67.

Leggett & Platt Price Performance

Shares of NYSE:LEG opened at $8.77 on Friday. The stock has a market cap of $1.19 billion, a price-to-earnings ratio of 8.51 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, Incorporated has a 12-month low of $6.47 and a 12-month high of $14.23. The business’s 50 day moving average is $9.46 and its 200 day moving average is $8.95.

Leggett & Platt (NYSE:LEG) last announced its earnings results on Thursday, July 31st. The company reported $0.30 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.29 by $0.01. The company had revenue of $1.06 billion for the quarter, compared to analysts’ expectations 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% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.29 earnings per share. Leggett & Platt has set its FY 2025 guidance at 1.000-1.200 EPS. On average, sell-side analysts forecast 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. Investors of record on Monday, September 15th will be given a dividend of $0.05 per share. The ex-dividend date of this dividend is Monday, September 15th. This represents a $0.20 annualized dividend and a dividend yield of 2.3%. Leggett & Platt’s payout ratio is presently 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.