Leggett & Platt (NYSE:LEG) Upgraded at Zacks Research

Zacks Research upgraded shares of Leggett & Platt (NYSE:LEG) from a strong sell rating to a hold rating in a research note published on Monday morning,Zacks.com reports. Zacks Research also issued estimates for Leggett & Platt’s Q2 2027 earnings at $0.30 EPS, Q4 2027 earnings at $0.25 EPS, FY2027 earnings at $1.08 EPS and FY2028 earnings at $1.20 EPS.

LEG has been the subject of several other reports. Truist Financial decreased their price objective on Leggett & Platt from $13.00 to $11.00 and set a “hold” rating for the company in a report on Friday, May 8th. Weiss Ratings raised shares of Leggett & Platt from a “hold (c-)” rating to a “hold (c)” rating in a report on Friday, May 15th. Five analysts have rated the stock with a Hold rating, According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $11.33.

Leggett & Platt Stock Up 0.2%

LEG opened at $10.71 on Monday. Leggett & Platt has a one year low of $7.86 and a one year high of $13.00. The company has a debt-to-equity ratio of 1.44, a quick ratio of 1.45 and a current ratio of 2.33. The stock has a market capitalization of $1.46 billion, a P/E ratio of 6.65 and a beta of 0.71. The business’s 50-day simple moving average is $10.65 and its 200-day simple moving average is $11.00.

Leggett & Platt (NYSE:LEG) last announced its earnings results on Thursday, May 7th. The company reported $0.15 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.26 by ($0.11). The firm had revenue of $918.20 million during the quarter, compared to analyst estimates of $946.79 million. Leggett & Platt had a net margin of 5.69% and a return on equity of 12.62%. The firm’s revenue for the quarter was down 10.2% compared to the same quarter last year. During the same period last year, the company earned $0.24 earnings per share. Analysts anticipate that Leggett & Platt will post 0.9 EPS for the current year.

Leggett & Platt Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, July 15th. Investors of record on Monday, June 15th were issued a dividend of $0.05 per share. The ex-dividend date of this dividend was Monday, June 15th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.9%. Leggett & Platt’s dividend payout ratio (DPR) is currently 12.42%.

Institutional Trading of Leggett & Platt

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its position in Leggett & Platt by 1.5% during the 4th quarter. Vanguard Group Inc. now owns 18,990,042 shares of the company’s stock worth $208,890,000 after acquiring an additional 282,940 shares during the period. Geode Capital Management LLC increased its holdings in shares of Leggett & Platt by 6.1% in the fourth quarter. Geode Capital Management LLC now owns 3,173,733 shares of the company’s stock valued at $34,917,000 after purchasing an additional 183,218 shares during the period. Quantinno Capital Management LP raised its stake in shares of Leggett & Platt by 22.7% during the first quarter. Quantinno Capital Management LP now owns 3,023,884 shares of the company’s stock worth $29,876,000 after purchasing an additional 559,868 shares during the last quarter. Invenomic Capital Management LP raised its stake in shares of Leggett & Platt by 4.0% during the fourth quarter. Invenomic Capital Management LP now owns 2,437,519 shares of the company’s stock worth $26,813,000 after purchasing an additional 93,213 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its holdings in shares of Leggett & Platt by 4.9% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,123,623 shares of the company’s stock worth $23,360,000 after purchasing an additional 98,430 shares during the period. 64.23% of the stock is owned by hedge funds and other institutional investors.

Leggett & Platt Company Profile

Leggett & Platt, Inc is a diversified manufacturer specializing in the design, engineering and production of a wide range of engineered components and products. The company’s offerings span several end markets, including residential bedding, commercial and residential furniture, automotive seating and interiors, aerospace applications and industrial products. By integrating product design with proprietary manufacturing processes, Leggett & Platt serves as a key supplier to both original equipment manufacturers and aftermarket distributors.

The company’s core product lines include coil springs and support systems for mattresses and furniture, adjustable bed mechanisms, engineered components such as extruded and formed metal products, and specialty foam and bedding products.