PARK CIRCLE Co Invests $491,000 in Leggett & Platt, Incorporated $LEG

PARK CIRCLE Co bought a new stake in Leggett & Platt, Incorporated (NYSE:LEG) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 55,000 shares of the company’s stock, valued at approximately $491,000.

Other institutional investors have also bought and sold shares of the company. State of Wyoming purchased a new stake in Leggett & Platt in the 1st quarter valued at $89,000. SeaCrest Wealth Management LLC purchased a new stake in shares of Leggett & Platt in the second quarter valued at about $89,000. Signaturefd LLC lifted its position in shares of Leggett & Platt by 344.5% during the second quarter. Signaturefd LLC now owns 11,072 shares of the company’s stock valued at $99,000 after purchasing an additional 8,581 shares in the last quarter. Parallel Advisors LLC boosted its holdings in Leggett & Platt by 385.3% during the second quarter. Parallel Advisors LLC now owns 11,229 shares of the company’s stock worth $100,000 after purchasing an additional 8,915 shares during the last quarter. Finally, Banco Bilbao Vizcaya Argentaria S.A. purchased a new stake in Leggett & Platt in the 1st quarter valued at about $102,000. Institutional investors own 64.23% of the company’s stock.

Leggett & Platt Price Performance

NYSE LEG opened at $8.90 on Thursday. The company has a quick ratio of 1.36, a current ratio of 2.17 and a debt-to-equity ratio of 2.09. The company has a market cap of $1.20 billion, a PE ratio of 8.64 and a beta of 0.72. Leggett & Platt, Incorporated has a 52 week low of $6.47 and a 52 week high of $13.62. The firm’s 50-day simple moving average is $9.24 and its two-hundred day simple moving average is $8.99.

Leggett & Platt (NYSE:LEG) last posted its earnings results on Thursday, July 31st. The company reported $0.30 earnings per share for the quarter, topping the consensus estimate of $0.29 by $0.01. The firm had revenue of $1.06 billion during the quarter, compared to the consensus estimate of $1.06 billion. Leggett & Platt had a net margin of 3.36% and a return on equity of 19.42%. The company’s revenue was down 6.3% on a year-over-year basis. During the same quarter last year, the company earned $0.29 earnings per share. Leggett & Platt has set its FY 2025 guidance at 1.000-1.200 EPS. Research analysts predict that Leggett & Platt, Incorporated will post 1.14 earnings per share for the current year.

Leggett & Platt Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 15th. Shareholders of record on Monday, September 15th will be issued a dividend of $0.05 per share. The ex-dividend date of this dividend is Monday, September 15th. This represents a $0.20 dividend on an annualized basis and a yield of 2.2%. Leggett & Platt’s payout ratio is presently 19.42%.

Analyst Upgrades and Downgrades

LEG has been the subject of several recent analyst reports. Piper Sandler reaffirmed a “neutral” rating and issued a $9.00 target price (down from $10.00) on shares of Leggett & Platt in a report on Monday, August 4th. Zacks Research downgraded shares of Leggett & Platt from a “hold” rating to a “strong sell” rating in a report on Monday, August 18th. Wall Street Zen downgraded shares of Leggett & Platt from a “buy” rating to a “hold” rating in a report on Saturday, August 2nd. Finally, Weiss Ratings reissued a “sell (d)” rating on shares of Leggett & Platt in a research report on Wednesday. Three equities research analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Reduce” and a consensus price target of $9.67.

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.