Leggett & Platt, Incorporated $LEG Shares Sold by Advisors Asset Management Inc.

Advisors Asset Management Inc. cut its stake in shares of Leggett & Platt, Incorporated (NYSE:LEG) by 70.8% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 44,582 shares of the company’s stock after selling 107,983 shares during the period. Advisors Asset Management Inc.’s holdings in Leggett & Platt were worth $398,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Jefferies Financial Group Inc. purchased a new position in Leggett & Platt in the 1st quarter worth about $258,000. Vanguard Group Inc. boosted 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 worth $131,177,000 after buying an additional 1,105,256 shares during the period. Deutsche Bank AG increased its position in shares of Leggett & Platt by 19.1% in the first quarter. Deutsche Bank AG now owns 80,147 shares of the company’s stock worth $634,000 after acquiring an additional 12,828 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. increased its position in shares of Leggett & Platt by 13.2% in the first quarter. Connor Clark & Lunn Investment Management Ltd. now owns 611,682 shares of the company’s stock worth $4,838,000 after acquiring an additional 71,179 shares in the last quarter. Finally, Lcnb Corp acquired a new stake in shares of Leggett & Platt during the first quarter valued at approximately $247,000. 64.23% of the stock is owned by hedge funds and other institutional investors.

Leggett & Platt Trading Down 2.7%

Shares of NYSE:LEG opened at $11.62 on Wednesday. The stock has a market capitalization of $1.57 billion, a PE ratio of 7.21 and a beta of 0.75. Leggett & Platt, Incorporated has a 1 year low of $6.47 and a 1 year high of $12.73. The firm has a fifty day moving average price of $9.19 and a 200 day moving average price of $9.34. The company has a current ratio of 2.15, a quick ratio of 1.36 and a debt-to-equity ratio of 1.54.

Leggett & Platt (NYSE:LEG) last posted its earnings results 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). 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 for the quarter, compared to the consensus estimate of $1.02 billion. During the same quarter last year, the business earned $0.32 earnings per share. Leggett & Platt’s quarterly revenue was down 5.9% on a year-over-year basis. Leggett & Platt has set its FY 2025 guidance at 1.000-1.100 EPS. Analysts expect that Leggett & Platt, Incorporated will post 1.14 EPS for the current fiscal year.

Leggett & Platt Announces Dividend

The company 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 $0.05 dividend. The ex-dividend date of this dividend is Monday, December 15th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.7%. Leggett & Platt’s dividend payout ratio (DPR) is currently 12.42%.

Wall Street Analyst Weigh In

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

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.