Leggett & Platt, Incorporated $LEG Shares Acquired by Geode Capital Management LLC

Geode Capital Management LLC increased its holdings in shares of Leggett & Platt, Incorporated (NYSE:LEG) by 47.8% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,175,556 shares of the company’s stock after purchasing an additional 1,026,608 shares during the period. Geode Capital Management LLC owned 2.35% of Leggett & Platt worth $28,330,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of LEG. Vanguard Group Inc. raised its holdings in shares of 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 buying an additional 1,105,256 shares during the last quarter. Millennium Management LLC raised its stake in Leggett & Platt by 784.7% during the 1st quarter. Millennium Management LLC now owns 4,605,416 shares of the company’s stock valued at $36,429,000 after acquiring an additional 4,084,866 shares during the last quarter. Invenomic Capital Management LP raised its stake in Leggett & Platt by 31.3% during the 1st quarter. Invenomic Capital Management LP now owns 1,992,319 shares of the company’s stock valued at $15,759,000 after acquiring an additional 475,163 shares during the last quarter. Trexquant Investment LP lifted its position in Leggett & Platt by 31.8% during the 1st quarter. Trexquant Investment LP now owns 1,551,964 shares of the company’s stock worth $12,276,000 after acquiring an additional 374,073 shares during the period. Finally, Cubist Systematic Strategies LLC grew its stake in shares of 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 purchasing an additional 1,443,257 shares during the last quarter. 64.23% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on LEG shares. Zacks Research upgraded Leggett & Platt from a “hold” rating to a “strong-buy” rating in a research note on Thursday, November 6th. Piper Sandler set a $9.00 price objective on shares of Leggett & Platt in a research report on Wednesday, October 29th. Weiss Ratings restated a “sell (d+)” rating on shares of Leggett & Platt in a research note on Tuesday. Wall Street Zen lowered shares of Leggett & Platt from a “buy” rating to a “hold” rating in a research note on Saturday, August 2nd. Finally, The Goldman Sachs Group reissued a “neutral” rating and set a $11.00 price target on shares of Leggett & Platt in a report on Wednesday, October 29th. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $11.00.

Leggett & Platt Price Performance

Leggett & Platt stock opened at $10.26 on Friday. The company has a market cap of $1.39 billion, a P/E ratio of 6.37 and a beta of 0.74. Leggett & Platt, Incorporated has a one year low of $6.47 and a one year high of $12.76. The business has a fifty day moving average of $9.09 and a two-hundred day moving average of $9.32. The company has a debt-to-equity ratio of 1.54, a quick ratio of 1.36 and a current ratio of 2.15.

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

Leggett & Platt Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 15th. Stockholders of record on Monday, December 15th will be given a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.9%. The ex-dividend date is Monday, December 15th. Leggett & Platt’s dividend payout ratio (DPR) is presently 12.42%.

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.