Ethic Inc. Invests $111,000 in Leggett & Platt, Incorporated $LEG

Ethic Inc. acquired a new position in Leggett & Platt, Incorporated (NYSE:LEG) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 12,036 shares of the company’s stock, valued at approximately $111,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Janney Montgomery Scott LLC bought a new position in Leggett & Platt in the 1st quarter worth about $107,000. Cambridge Investment Research Advisors Inc. boosted its position in shares of Leggett & Platt by 16.7% during the 1st 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 during the last quarter. Oppenheimer & Co. Inc. grew its holdings in shares of Leggett & Platt by 8.9% during the first quarter. Oppenheimer & Co. Inc. now owns 24,501 shares of the company’s stock worth $194,000 after purchasing an additional 2,000 shares in the last quarter. Teacher Retirement System of Texas purchased a new position in shares of Leggett & Platt during the first quarter worth about $155,000. Finally, Mutual Advisors LLC increased its position in shares of Leggett & Platt by 55.1% in the first quarter. Mutual Advisors LLC now owns 106,106 shares of the company’s stock worth $774,000 after purchasing an additional 37,715 shares during the last quarter. 64.23% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts have issued reports on the stock. Zacks Research upgraded shares of Leggett & Platt from a “strong sell” rating to a “hold” rating in a research report on Wednesday, October 8th. Wall Street Zen downgraded shares of Leggett & Platt from a “buy” rating to a “hold” rating in a report on Saturday, August 2nd. Weiss Ratings reiterated a “sell (d)” rating on shares of Leggett & Platt in a research report on Wednesday, October 8th. Truist Financial increased their target price on Leggett & Platt from $10.00 to $12.00 and gave the company a “hold” rating in a research note on Wednesday. Finally, Piper Sandler set a $9.00 price target on Leggett & Platt in a research note on Wednesday. Four analysts have rated the stock with a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Reduce” and a consensus price target of $11.00.

Leggett & Platt Trading Down 2.2%

Shares of LEG stock opened at $9.33 on Friday. The business has a 50-day moving average of $9.29 and a 200 day moving average of $9.19. The company has a debt-to-equity ratio of 1.54, a current ratio of 2.15 and a quick ratio of 1.36. Leggett & Platt, Incorporated has a 1-year low of $6.47 and a 1-year high of $13.20. The stock has a market capitalization of $1.26 billion, a PE ratio of 5.79 and a beta of 0.72.

Leggett & Platt (NYSE:LEG) last announced 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 the consensus estimate of $1.02 billion. Leggett & Platt had a net margin of 5.38% and a return on equity of 16.27%. The business’s revenue for the quarter was down 5.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.32 EPS. Leggett & Platt has set its FY 2025 guidance at 1.000-1.100 EPS. As a group, sell-side analysts anticipate that Leggett & Platt, Incorporated will post 1.14 earnings per share for the current year.

Leggett & Platt Dividend Announcement

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

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.