Leggett & Platt, Incorporated $LEG Stock Position Decreased by Connor Clark & Lunn Investment Management Ltd.

Connor Clark & Lunn Investment Management Ltd. trimmed its position in shares of Leggett & Platt, Incorporated (NYSE:LEG) by 34.9% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 398,362 shares of the company’s stock after selling 213,320 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned approximately 0.29% of Leggett & Platt worth $3,553,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently added to or reduced their stakes in the company. Millennium Management LLC lifted its stake in Leggett & Platt by 784.7% in the first quarter. Millennium Management LLC now owns 4,605,416 shares of the company’s stock valued at $36,429,000 after acquiring an additional 4,084,866 shares during the last quarter. Cubist Systematic Strategies LLC lifted its stake in shares of Leggett & Platt by 1,495.6% in the 1st quarter. Cubist Systematic Strategies LLC now owns 1,539,758 shares of the company’s stock valued at $12,179,000 after purchasing an additional 1,443,257 shares during the last quarter. Vanguard Group Inc. boosted its holdings in 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 purchasing an additional 1,105,256 shares in the last quarter. Canada Pension Plan Investment Board raised its holdings in Leggett & Platt by 15,000.0% during the first quarter. Canada Pension Plan Investment Board now owns 634,200 shares of the company’s stock valued at $5,017,000 after buying an additional 630,000 shares in the last quarter. Finally, Nuveen LLC acquired a new stake in shares of Leggett & Platt in the first quarter worth about $3,929,000. Institutional investors and hedge funds own 64.23% of the company’s stock.

Wall Street Analyst Weigh In

LEG has been the topic of a number of recent analyst reports. The Goldman Sachs Group reissued a “neutral” rating and issued a $11.00 price objective on shares of Leggett & Platt in a research note on Wednesday, October 29th. Piper Sandler set a $9.00 price objective on shares of Leggett & Platt in a research note on Wednesday, October 29th. Zacks Research raised shares of Leggett & Platt from a “hold” rating to a “strong-buy” rating in a report on Thursday, November 6th. Truist Financial lifted their target price on shares of Leggett & Platt from $10.00 to $12.00 and gave the stock a “hold” rating in a report on Wednesday, October 29th. Finally, Wall Street Zen cut shares of Leggett & Platt from a “buy” rating to a “hold” rating in a report on Saturday, August 2nd. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $11.00.

Leggett & Platt Stock Performance

NYSE LEG opened at $9.01 on Friday. The company’s fifty day moving average is $9.14 and its two-hundred day moving average is $9.32. Leggett & Platt, Incorporated has a 52-week low of $6.47 and a 52-week high of $13.20. 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 firm has a market capitalization of $1.22 billion, a price-to-earnings ratio of 5.59 and a beta of 0.74.

Leggett & Platt (NYSE:LEG) last released 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 during the quarter, compared to the consensus estimate of $1.02 billion. During the same quarter in the previous year, the business posted $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. Equities research analysts forecast that Leggett & Platt, Incorporated will post 1.14 EPS for the current year.

Leggett & Platt Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, January 15th. Investors of record on Monday, December 15th will be given a $0.05 dividend. This represents a $0.20 annualized dividend and a yield of 2.2%. The ex-dividend date of this dividend is Monday, December 15th. Leggett & Platt’s dividend payout ratio (DPR) is 12.42%.

Leggett & Platt Company 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.