Chicago Partners Investment Group LLC Takes $97,000 Position in Leggett & Platt, Incorporated $LEG

Chicago Partners Investment Group LLC acquired a new stake in shares of Leggett & Platt, Incorporated (NYSE:LEG) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 10,880 shares of the company’s stock, valued at approximately $97,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Vanguard Group Inc. raised its position in Leggett & Platt by 7.1% in the 1st quarter. Vanguard Group Inc. now owns 16,583,732 shares of the company’s stock valued at $131,177,000 after buying an additional 1,105,256 shares during the last quarter. Millennium Management LLC raised its position in Leggett & Platt by 784.7% in the 1st quarter. Millennium Management LLC now owns 4,605,416 shares of the company’s stock valued at $36,429,000 after buying an additional 4,084,866 shares during the last quarter. Invenomic Capital Management LP raised its position in Leggett & Platt by 31.3% in the 1st quarter. Invenomic Capital Management LP now owns 1,992,319 shares of the company’s stock valued at $15,759,000 after buying an additional 475,163 shares during the last quarter. Trexquant Investment LP raised its position in Leggett & Platt by 31.8% in the 1st quarter. Trexquant Investment LP now owns 1,551,964 shares of the company’s stock valued at $12,276,000 after buying an additional 374,073 shares during the last quarter. Finally, Cubist Systematic Strategies LLC raised its position in Leggett & Platt by 1,495.6% in the 1st quarter. Cubist Systematic Strategies LLC now owns 1,539,758 shares of the company’s stock valued at $12,179,000 after buying an additional 1,443,257 shares during the last quarter. Institutional investors and hedge funds own 64.23% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on LEG shares. Piper Sandler reissued a “neutral” rating and issued a $9.00 target price (down previously from $10.00) on shares of Leggett & Platt in a research report on Monday, August 4th. Zacks Research raised Leggett & Platt from a “strong sell” rating to a “hold” rating in a research report on Wednesday, October 8th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Leggett & Platt in a research report on Saturday. Finally, Wall Street Zen lowered Leggett & Platt from a “buy” rating to a “hold” rating in a research report on Saturday, August 2nd. Four equities 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 currently has an average rating of “Reduce” and an average target price of $9.67.

Leggett & Platt Stock Performance

LEG opened at $9.15 on Friday. The business has a fifty day simple moving average of $9.25 and a 200 day simple moving average of $9.10. The company has a market capitalization of $1.24 billion, a PE ratio of 8.88 and a beta of 0.72. Leggett & Platt, Incorporated has a 1 year low of $6.47 and a 1 year high of $13.20. The company has a debt-to-equity ratio of 2.09, a current ratio of 2.17 and a quick ratio of 1.36.

Leggett & Platt (NYSE:LEG) last released its quarterly 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 business had revenue of $1.06 billion during the quarter, compared to the consensus estimate of $1.06 billion. Leggett & Platt had a return on equity of 19.42% and a net margin of 3.36%.The firm’s quarterly revenue was down 6.3% on a year-over-year basis. During the same period in the previous year, the company posted $0.29 EPS. Leggett & Platt has set its FY 2025 guidance at 1.000-1.200 EPS. Research analysts expect that Leggett & Platt, Incorporated will post 1.14 EPS for the current year.

Leggett & Platt Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, October 15th. Investors of record on Monday, September 15th were paid a $0.05 dividend. The ex-dividend date was Monday, September 15th. This represents a $0.20 annualized dividend and a yield of 2.2%. Leggett & Platt’s payout ratio is 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.