Signaturefd LLC Raises Holdings in Leggett & Platt, Incorporated $LEG

Signaturefd LLC raised its position in Leggett & Platt, Incorporated (NYSE:LEG) by 344.5% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 11,072 shares of the company’s stock after purchasing an additional 8,581 shares during the period. Signaturefd LLC’s holdings in Leggett & Platt were worth $99,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Jones Financial Companies Lllp raised its holdings in Leggett & Platt by 8.4% in the 1st quarter. Jones Financial Companies Lllp now owns 14,661 shares of the company’s stock valued at $116,000 after acquiring an additional 1,132 shares during the last quarter. Oppenheimer & Co. Inc. grew its position in shares of Leggett & Platt by 8.9% in the first quarter. Oppenheimer & Co. Inc. now owns 24,501 shares of the company’s stock valued at $194,000 after purchasing an additional 2,000 shares in the last quarter. State of Alaska Department of Revenue increased its holdings in shares of Leggett & Platt by 8.1% in the second quarter. State of Alaska Department of Revenue now owns 80,507 shares of the company’s stock valued at $717,000 after purchasing an additional 6,037 shares during the last quarter. Cambridge Investment Research Advisors Inc. lifted its position in Leggett & Platt by 16.7% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 57,580 shares of the company’s stock worth $455,000 after buying an additional 8,260 shares in the last quarter. Finally, Parallel Advisors LLC lifted its position in Leggett & Platt by 385.3% during the second quarter. Parallel Advisors LLC now owns 11,229 shares of the company’s stock worth $100,000 after buying an additional 8,915 shares in the last quarter. 64.23% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on LEG. Weiss Ratings restated a “sell (d)” rating on shares of Leggett & Platt in a report on Saturday, September 27th. Zacks Research cut shares of Leggett & Platt from a “hold” rating to a “strong sell” rating in a research report on Monday, August 18th. Wall Street Zen cut shares of Leggett & Platt from a “buy” rating to a “hold” rating in a research report on Saturday, August 2nd. Finally, Piper Sandler reiterated a “neutral” rating and issued a $9.00 target price (down 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 two have assigned a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Reduce” and an average price target of $9.67.

Leggett & Platt Stock Up 1.9%

Shares of NYSE:LEG opened at $9.00 on Friday. The company has a market capitalization of $1.22 billion, a price-to-earnings ratio of 8.73 and a beta of 0.72. Leggett & Platt, Incorporated has a 12-month low of $6.47 and a 12-month high of $13.62. The business has a 50-day moving average price of $9.32 and a 200 day moving average price of $8.98. 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 announced its earnings results on Thursday, July 31st. The company reported $0.30 earnings per share 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 during the quarter, compared to analyst estimates of $1.06 billion. During the same quarter last year, the firm posted $0.29 earnings per share. Leggett & Platt’s revenue was down 6.3% compared to the same quarter last year. Leggett & Platt has set its FY 2025 guidance at 1.000-1.200 EPS. Sell-side analysts expect that Leggett & Platt, Incorporated will post 1.14 EPS for the current year.

Leggett & Platt Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 15th. Shareholders of record on Monday, September 15th will be given a $0.05 dividend. The ex-dividend date of this dividend is Monday, September 15th. This represents a $0.20 dividend on an annualized basis and a yield of 2.2%. Leggett & Platt’s payout ratio is presently 19.42%.

About Leggett & Platt

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.