South Dakota Investment Council Has $6.79 Million Holdings in Leggett & Platt, Incorporated $LEG

South Dakota Investment Council lifted its position in Leggett & Platt, Incorporated (NYSE:LEG) by 7.6% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 760,848 shares of the company’s stock after buying an additional 53,500 shares during the quarter. South Dakota Investment Council owned about 0.56% of Leggett & Platt worth $6,787,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Janney Montgomery Scott LLC bought a new position in shares of Leggett & Platt in the 1st quarter valued at about $107,000. Cambridge Investment Research Advisors Inc. lifted its stake in Leggett & Platt by 16.7% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 57,580 shares of the company’s stock valued at $455,000 after purchasing an additional 8,260 shares during the last quarter. Teacher Retirement System of Texas acquired a new stake in Leggett & Platt in the 1st quarter valued at about $155,000. Mutual Advisors LLC grew its holdings in Leggett & Platt by 55.1% during the first quarter. Mutual Advisors LLC now owns 106,106 shares of the company’s stock worth $774,000 after purchasing an additional 37,715 shares during the period. Finally, Principal Financial Group Inc. increased its position in Leggett & Platt by 2.5% during the first quarter. Principal Financial Group Inc. now owns 667,662 shares of the company’s stock worth $5,281,000 after buying an additional 16,458 shares during the last quarter. 64.23% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research firms have recently issued reports on LEG. Wall Street Zen cut Leggett & Platt from a “buy” rating to a “hold” rating in a research report on Saturday, August 2nd. Zacks Research upgraded Leggett & Platt from a “strong sell” rating to a “hold” rating in a research note on Wednesday, October 8th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Leggett & Platt in a research report on Wednesday, October 8th. Piper Sandler set a $9.00 price objective on shares of Leggett & Platt in a report on Wednesday. Finally, The Goldman Sachs Group reissued a “neutral” rating and issued a $11.00 price objective on shares of Leggett & Platt in a research report on Wednesday. Four equities research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, Leggett & Platt currently has a consensus rating of “Reduce” and a consensus target price of $11.00.

Leggett & Platt Stock Performance

LEG opened at $9.33 on Monday. The company has a debt-to-equity ratio of 1.54, a current ratio of 2.15 and a quick ratio of 1.36. The business has a fifty day simple moving average of $9.29 and a 200 day simple moving average of $9.22. Leggett & Platt, Incorporated has a 1 year low of $6.47 and a 1 year high of $13.20. The company has a market capitalization of $1.26 billion, a PE ratio of 5.79 and a beta of 0.72.

Leggett & Platt (NYSE:LEG) last posted its quarterly earnings data 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 return on equity of 16.27% and a net margin of 5.38%.The firm had revenue of $1.04 billion for the quarter, compared to the consensus estimate of $1.02 billion. During the same quarter in the previous year, the business earned $0.32 EPS. The firm’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. Research analysts expect 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. Shareholders of record on Monday, September 15th were paid a $0.05 dividend. The ex-dividend date was Monday, September 15th. This represents a $0.20 annualized dividend and a yield of 2.1%. Leggett & Platt’s payout ratio is 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.