Advisors Asset Management Inc. Reduces Stock Position in Leggett & Platt, Incorporated $LEG

Advisors Asset Management Inc. reduced its holdings in shares of Leggett & Platt, Incorporated (NYSE:LEG) by 70.8% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 44,582 shares of the company’s stock after selling 107,983 shares during the quarter. Advisors Asset Management Inc.’s holdings in Leggett & Platt were worth $398,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Nisa Investment Advisors LLC bought a new position in Leggett & Platt during the 2nd quarter valued at $76,000. State of Wyoming bought a new position in shares of Leggett & Platt during the first quarter worth about $89,000. SeaCrest Wealth Management LLC acquired a new position in Leggett & Platt in the second quarter worth about $89,000. Chicago Partners Investment Group LLC bought a new stake in Leggett & Platt in the second quarter valued at about $97,000. Finally, Signaturefd LLC raised its stake in Leggett & Platt by 344.5% during the second quarter. Signaturefd LLC now owns 11,072 shares of the company’s stock valued at $99,000 after buying an additional 8,581 shares in the last quarter. Institutional investors own 64.23% of the company’s stock.

Wall Street Analysts Forecast Growth

LEG has been the subject of several research reports. The Goldman Sachs Group reiterated a “neutral” rating and issued a $11.00 target price 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 Monday. Zacks Research raised shares of Leggett & Platt from a “hold” rating to a “strong-buy” rating in a report on Thursday, November 6th. Piper Sandler set a $9.00 target price on shares of Leggett & Platt in a report on Wednesday, October 29th. Finally, Truist Financial raised their price target on shares of Leggett & Platt from $10.00 to $12.00 and gave the stock a “hold” rating in a research report on Wednesday, October 29th. One research analyst has rated the stock with a Strong Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $11.00.

Leggett & Platt Price Performance

Shares of NYSE:LEG opened at $11.62 on Wednesday. The stock has a market cap of $1.57 billion, a price-to-earnings ratio of 7.21 and a beta of 0.75. 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 12 month low of $6.47 and a 12 month high of $12.73. The stock’s 50 day moving average price is $9.19 and its 200 day moving average price is $9.34.

Leggett & Platt (NYSE:LEG) last issued its quarterly earnings results on Monday, October 27th. The company reported $0.29 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.30 by ($0.01). Leggett & Platt had a net margin of 5.38% and a return on equity of 16.27%. The firm had revenue of $1.04 billion for the quarter, compared to analyst estimates of $1.02 billion. During the same quarter last year, the business posted $0.32 earnings per share. The firm’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. Equities research analysts anticipate that Leggett & Platt, Incorporated will post 1.14 earnings per share for the current fiscal year.

Leggett & Platt Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 15th. Shareholders of record on Monday, December 15th will be given a $0.05 dividend. The ex-dividend date is Monday, December 15th. This represents a $0.20 annualized dividend and a yield of 1.7%. Leggett & Platt’s payout ratio is 12.42%.

Leggett & Platt 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.