Leggett & Platt (NYSE:LEG) Hits New 1-Year High – Should You Buy?

Leggett & Platt, Incorporated (NYSE:LEG) hit a new 52-week high during trading on Thursday . The company traded as high as $12.09 and last traded at $12.0450, with a volume of 857088 shares traded. The stock had previously closed at $11.72.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the stock. Wall Street Zen upgraded shares of Leggett & Platt from a “hold” rating to a “buy” rating in a research note on Saturday, January 3rd. The Goldman Sachs Group reiterated a “neutral” rating and set a $11.00 price target on shares of Leggett & Platt in a research report on Wednesday, October 29th. Zacks Research downgraded shares of Leggett & Platt from a “strong-buy” rating to a “hold” rating in a research report on Friday, December 5th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Leggett & Platt in a report on Monday, December 29th. Finally, Truist Financial boosted their price target on Leggett & Platt from $10.00 to $12.00 and gave the stock a “hold” rating in a report on Wednesday, October 29th. Five investment analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $11.67.

Leggett & Platt Stock Up 2.1%

The company has a current ratio of 2.15, a quick ratio of 1.35 and a debt-to-equity ratio of 1.54. The company has a market capitalization of $1.67 billion, a P/E ratio of 7.65 and a beta of 0.73. The stock has a 50 day moving average price of $10.46 and a 200 day moving average price of $9.76.

Leggett & Platt (NYSE:LEG) last issued its earnings results 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). The firm had revenue of $1.04 billion during the quarter, compared to analyst estimates of $1.02 billion. Leggett & Platt had a return on equity of 16.27% and a net margin of 5.38%.Leggett & Platt’s revenue for the quarter was down 5.9% on a year-over-year basis. During the same period in the previous year, the company earned $0.32 EPS. Leggett & Platt has set its FY 2025 guidance at 1.000-1.100 EPS. On average, 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 disclosed a quarterly dividend, which will be paid on Thursday, January 15th. Investors of record on Monday, December 15th will be paid a $0.05 dividend. The ex-dividend date of this dividend is Monday, December 15th. This represents a $0.20 annualized dividend and a dividend yield of 1.6%. Leggett & Platt’s payout ratio is currently 12.42%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of LEG. Jones Financial Companies Lllp raised its holdings in shares of Leggett & Platt by 8.4% in the first quarter. Jones Financial Companies Lllp now owns 14,661 shares of the company’s stock valued at $116,000 after acquiring an additional 1,132 shares in the last quarter. Amalgamated Bank lifted its position in shares of Leggett & Platt by 3.7% in the 3rd quarter. Amalgamated Bank now owns 39,752 shares of the company’s stock worth $353,000 after purchasing an additional 1,419 shares during the period. EP Wealth Advisors LLC boosted its stake in shares of Leggett & Platt by 5.8% during the second quarter. EP Wealth Advisors LLC now owns 34,859 shares of the company’s stock valued at $311,000 after purchasing an additional 1,912 shares in the last quarter. SummerHaven Investment Management LLC boosted its stake in shares of Leggett & Platt by 2.8% during the second quarter. SummerHaven Investment Management LLC now owns 74,171 shares of the company’s stock valued at $662,000 after purchasing an additional 2,005 shares in the last quarter. Finally, Penserra Capital Management LLC increased its holdings in Leggett & Platt by 8.1% during the second quarter. Penserra Capital Management LLC now owns 27,789 shares of the company’s stock valued at $247,000 after buying an additional 2,072 shares during the period. 64.23% of the stock is owned by institutional investors and hedge funds.

About Leggett & Platt

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.