Leggett & Platt, Incorporated $LEG Shares Bought by State of Alaska Department of Revenue

State of Alaska Department of Revenue raised its stake in Leggett & Platt, Incorporated (NYSE:LEG) by 8.1% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 80,507 shares of the company’s stock after acquiring an additional 6,037 shares during the period. State of Alaska Department of Revenue owned 0.06% of Leggett & Platt worth $717,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently bought and sold shares of the company. Cambridge Investment Research Advisors Inc. boosted its stake in Leggett & Platt by 16.7% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 57,580 shares of the company’s stock valued at $455,000 after acquiring an additional 8,260 shares in the last quarter. Trust Co. of Oklahoma acquired a new position in Leggett & Platt in the first quarter valued at $239,000. Hotchkis & Wiley Capital Management LLC boosted its stake in Leggett & Platt by 70.5% in the first quarter. Hotchkis & Wiley Capital Management LLC now owns 986,990 shares of the company’s stock valued at $7,807,000 after acquiring an additional 408,210 shares in the last quarter. Vanguard Group Inc. boosted its stake in Leggett & Platt by 7.1% in the first quarter. Vanguard Group Inc. now owns 16,583,732 shares of the company’s stock valued at $131,177,000 after acquiring an additional 1,105,256 shares in the last quarter. Finally, GSA Capital Partners LLP boosted its stake in Leggett & Platt by 206.0% in the first quarter. GSA Capital Partners LLP now owns 114,110 shares of the company’s stock valued at $903,000 after acquiring an additional 76,820 shares in the last quarter. Institutional investors and hedge funds own 64.23% of the company’s stock.

Leggett & Platt Trading Down 0.5%

NYSE LEG opened at $8.71 on Wednesday. The stock has a market capitalization of $1.18 billion, a P/E ratio of 8.45 and a beta of 0.72. Leggett & Platt, Incorporated has a 52-week low of $6.47 and a 52-week high of $13.62. The firm has a 50-day moving average price of $9.26 and a 200 day moving average price of $8.99. 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 posted its quarterly 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 during the quarter, compared to analysts’ expectations of $1.06 billion. Leggett & Platt had a net margin of 3.36% and a return on equity of 19.42%. The firm’s revenue for the quarter was down 6.3% on a year-over-year basis. During the same period in the prior year, the company posted $0.29 earnings per share. Leggett & Platt has set its FY 2025 guidance at 1.000-1.200 EPS. Equities research analysts expect that Leggett & Platt, Incorporated will post 1.14 EPS for the current year.

Leggett & Platt Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 15th. Shareholders of record on Monday, September 15th will be issued 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 2.3%. Leggett & Platt’s dividend payout ratio (DPR) is 19.42%.

Analysts Set New Price Targets

LEG has been the subject of several recent research reports. Piper Sandler reiterated 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. Zacks Research downgraded shares of Leggett & Platt from a “hold” rating to a “strong sell” rating in a research note on Monday, August 18th. Weiss Ratings reiterated a “sell (d)” rating on shares of Leggett & Platt in a research note on Saturday, September 27th. Finally, Wall Street Zen downgraded shares of Leggett & Platt from a “buy” rating to a “hold” rating in a research note on Saturday, August 2nd. Three investment analysts have rated the stock with a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, Leggett & Platt presently has an average rating of “Reduce” and a consensus price target 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.