Frank Rimerman Advisors LLC Invests $100,000 in Leggett & Platt, Incorporated $LEG

Frank Rimerman Advisors LLC acquired a new stake in Leggett & Platt, Incorporated (NYSE:LEG) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 11,169 shares of the company’s stock, valued at approximately $100,000.

Several other hedge funds have also recently added to or reduced their stakes in the business. Millennium Management LLC lifted its holdings in shares of 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 purchasing an additional 4,084,866 shares in the last quarter. Cubist Systematic Strategies LLC raised its position in shares of Leggett & Platt by 1,495.6% during the 1st quarter. Cubist Systematic Strategies LLC now owns 1,539,758 shares of the company’s stock worth $12,179,000 after purchasing an additional 1,443,257 shares during the last quarter. Vanguard Group Inc. raised its position in shares of Leggett & Platt by 7.1% during the 1st 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 during the last quarter. Geode Capital Management LLC lifted its stake in Leggett & Platt by 47.8% in the 2nd quarter. Geode Capital Management LLC now owns 3,175,556 shares of the company’s stock valued at $28,330,000 after buying an additional 1,026,608 shares in the last quarter. Finally, Canada Pension Plan Investment Board grew its holdings in Leggett & Platt by 15,000.0% during the 1st 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 during the last quarter. 64.23% of the stock is currently owned by hedge funds and other institutional investors.

Leggett & Platt Stock Up 3.8%

Shares of NYSE LEG opened at $9.24 on Friday. The company has a quick ratio of 1.36, a current ratio of 2.15 and a debt-to-equity ratio of 1.54. The stock has a market capitalization of $1.25 billion, a PE ratio of 5.74 and a beta of 0.74. The firm has a fifty day moving average of $9.03 and a 200-day moving average of $9.29. Leggett & Platt, Incorporated has a 52-week low of $6.47 and a 52-week high of $13.20.

Leggett & Platt (NYSE:LEG) last issued its earnings results on Monday, October 27th. The company reported $0.29 earnings per share for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.01). Leggett & Platt had a net margin of 5.38% and a return on equity of 16.27%. The firm had revenue of $1.04 billion during the quarter, compared to analyst estimates of $1.02 billion. During the same quarter in the previous year, the business posted $0.32 EPS. Leggett & Platt’s revenue was down 5.9% compared to the same quarter last year. Leggett & Platt has set its FY 2025 guidance at 1.000-1.100 EPS. On average, analysts anticipate 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. Stockholders of record on Monday, December 15th will be issued a dividend of $0.05 per share. The ex-dividend date is Monday, December 15th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 2.2%. Leggett & Platt’s payout ratio is presently 12.42%.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on LEG shares. The Goldman Sachs Group restated a “neutral” rating and issued a $11.00 price objective on shares of Leggett & Platt in a research report on Wednesday, October 29th. Truist Financial boosted their target price on shares of Leggett & Platt from $10.00 to $12.00 and gave the company a “hold” rating in a research note on Wednesday, October 29th. Piper Sandler set a $9.00 target price on shares of Leggett & Platt in a report on Wednesday, October 29th. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Leggett & Platt in a research note on Wednesday. Finally, Wall Street Zen lowered shares of Leggett & Platt from a “buy” rating to a “hold” rating in a research report on Saturday, August 2nd. One research analyst has rated the stock with a Strong Buy rating, three have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, Leggett & Platt presently has a consensus rating of “Hold” and a consensus price target of $11.00.

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.