Ingalls & Snyder LLC Makes New Investment in Leggett & Platt, Incorporated $LEG

Ingalls & Snyder LLC acquired a new position in shares of Leggett & Platt, Incorporated (NYSE:LEG) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 17,000 shares of the company’s stock, valued at approximately $152,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. State of Wyoming bought a new position in Leggett & Platt in the first quarter worth approximately $89,000. SeaCrest Wealth Management LLC bought a new position in shares of Leggett & Platt in the 2nd quarter worth $89,000. Chicago Partners Investment Group LLC bought a new position in shares of Leggett & Platt in the second quarter valued at $97,000. Signaturefd LLC lifted its stake in shares of Leggett & Platt by 344.5% in 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. Finally, Parallel Advisors LLC lifted its stake in shares of Leggett & Platt by 385.3% in the second quarter. Parallel Advisors LLC now owns 11,229 shares of the company’s stock valued at $100,000 after buying an additional 8,915 shares in the last quarter. Institutional investors own 64.23% of the company’s stock.

Leggett & Platt Stock Performance

Shares of LEG opened at $9.19 on Tuesday. Leggett & Platt, Incorporated has a 1 year low of $6.47 and a 1 year high of $13.20. The stock’s fifty day moving average price is $9.25 and its two-hundred day moving average price is $9.12. The firm has a market cap of $1.24 billion, a PE ratio of 8.92 and a beta of 0.72. The company has a debt-to-equity ratio of 2.09, a current ratio of 2.17 and a quick ratio of 1.36.

Leggett & Platt (NYSE:LEG) last announced its quarterly earnings data 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 3.36% and a return on equity of 19.42%. The firm had revenue of $1.04 billion during the quarter, compared to the consensus estimate of $1.02 billion. During the same quarter in the prior year, the firm posted $0.32 earnings per share. The company’s 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. On average, equities research analysts forecast that Leggett & Platt, Incorporated will post 1.14 EPS for the current year.

Leggett & Platt Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, October 15th. Investors of record on Monday, September 15th were paid a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a yield of 2.2%. The ex-dividend date was Monday, September 15th. Leggett & Platt’s payout ratio is currently 19.42%.

Analyst Ratings Changes

Several brokerages recently weighed in on LEG. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Leggett & Platt in a research report on Wednesday, October 8th. Wall Street Zen lowered Leggett & Platt from a “buy” rating to a “hold” rating in a report on Saturday, August 2nd. Zacks Research upgraded Leggett & Platt from a “strong sell” rating to a “hold” rating in a report on Wednesday, October 8th. Finally, Piper Sandler restated a “neutral” rating and set a $9.00 price objective (down from $10.00) on shares of Leggett & Platt in a research note on Monday, August 4th. Four analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Reduce” and a consensus target price of $9.67.

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.