Mutual of America Capital Management LLC Sells 2,211 Shares of Leggett & Platt, Incorporated $LEG

Mutual of America Capital Management LLC cut its stake in Leggett & Platt, Incorporated (NYSE:LEG) by 11.3% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 17,361 shares of the company’s stock after selling 2,211 shares during the period. Mutual of America Capital Management LLC’s holdings in Leggett & Platt were worth $155,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of the stock. Allianz Asset Management GmbH boosted its holdings in Leggett & Platt by 89.9% in the 2nd quarter. Allianz Asset Management GmbH now owns 679,068 shares of the company’s stock valued at $6,057,000 after purchasing an additional 321,519 shares during the period. Vanguard Personalized Indexing Management LLC raised its stake in shares of Leggett & Platt by 135.6% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 25,212 shares of the company’s stock valued at $225,000 after buying an additional 14,512 shares in the last quarter. PARK CIRCLE Co acquired a new position in shares of Leggett & Platt in the 2nd quarter valued at $491,000. Prime Capital Investment Advisors LLC raised its stake in shares of Leggett & Platt by 17.8% in the 2nd quarter. Prime Capital Investment Advisors LLC now owns 15,532 shares of the company’s stock valued at $139,000 after buying an additional 2,349 shares in the last quarter. Finally, Lecap Asset Management Ltd. acquired a new position in shares of Leggett & Platt in the 2nd quarter valued at $287,000. 64.23% of the stock is owned by institutional investors.

Leggett & Platt Trading Down 5.2%

LEG opened at $9.54 on Friday. The company has a current ratio of 2.15, a quick ratio of 1.36 and a debt-to-equity ratio of 1.54. The stock has a market capitalization of $1.29 billion, a PE ratio of 5.93 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 firm has a 50-day moving average price of $9.30 and a two-hundred day moving average price of $9.17.

Leggett & Platt (NYSE:LEG) last posted its quarterly earnings data on Monday, October 27th. The company reported $0.29 earnings per share for the quarter, missing the consensus estimate of $0.30 by ($0.01). The company had revenue of $1.04 billion during the quarter, compared to analyst estimates of $1.02 billion. Leggett & Platt had a net margin of 5.38% and a return on equity of 16.27%. The company’s revenue was down 5.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.32 EPS. Leggett & Platt has set its FY 2025 guidance at 1.000-1.100 EPS. As a group, equities analysts anticipate that Leggett & Platt, Incorporated will post 1.14 earnings per share for the current fiscal year.

Leggett & Platt Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, October 15th. Shareholders of record on Monday, September 15th were given a $0.05 dividend. This represents a $0.20 annualized dividend and a yield of 2.1%. The ex-dividend date was Monday, September 15th. Leggett & Platt’s dividend payout ratio (DPR) is presently 12.42%.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on LEG. Truist Financial increased their price objective on shares of Leggett & Platt from $10.00 to $12.00 and gave the company a “hold” rating in a research note on Wednesday. Weiss Ratings restated a “sell (d)” rating on shares of Leggett & Platt in a research note on Wednesday, October 8th. Piper Sandler set a $9.00 price objective on shares of Leggett & Platt in a research note on Wednesday. The Goldman Sachs Group reiterated a “neutral” rating and set a $11.00 target price on shares of Leggett & Platt in a research report on Wednesday. Finally, Wall Street Zen cut shares of Leggett & Platt from a “buy” rating to a “hold” rating in a research report on Saturday, August 2nd. Four analysts have rated the stock with a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Leggett & Platt presently has an average rating of “Reduce” and a consensus price target of $11.00.

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.