Intech Investment Management LLC Makes New $509,000 Investment in Leggett & Platt, Incorporated $LEG

Intech Investment Management LLC purchased a new stake in Leggett & Platt, Incorporated (NYSE:LEG) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 57,113 shares of the company’s stock, valued at approximately $509,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Cetera Investment Advisers bought a new position in Leggett & Platt in the 2nd quarter worth about $118,000. Creative Planning lifted its holdings in shares of Leggett & Platt by 33.3% in the second quarter. Creative Planning now owns 109,701 shares of the company’s stock worth $979,000 after buying an additional 27,377 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its position in shares of Leggett & Platt by 7.9% in the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 34,697 shares of the company’s stock valued at $309,000 after acquiring an additional 2,534 shares during the period. Olympiad Research LP purchased a new position in Leggett & Platt during the second quarter valued at approximately $134,000. Finally, Geode Capital Management LLC increased its holdings in Leggett & Platt by 47.8% during the 2nd quarter. Geode Capital Management LLC now owns 3,175,556 shares of the company’s stock worth $28,330,000 after acquiring an additional 1,026,608 shares during the period. 64.23% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on LEG. Zacks Research upgraded shares of Leggett & Platt from a “hold” rating to a “strong-buy” rating in a research note on Thursday, November 6th. The Goldman Sachs Group reiterated 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 lifted their price objective on Leggett & Platt from $10.00 to $12.00 and gave the company a “hold” rating in a research note on Wednesday, October 29th. Weiss Ratings restated a “sell (d+)” rating on shares of Leggett & Platt in a research note on Tuesday. Finally, Piper Sandler set a $9.00 price target on Leggett & Platt in a report on Wednesday, October 29th. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $11.00.

Leggett & Platt Stock Up 1.2%

LEG opened at $10.26 on Friday. The stock has a market cap of $1.39 billion, a PE ratio of 6.37 and a beta of 0.74. The company has a quick ratio of 1.36, a current ratio of 2.15 and a debt-to-equity ratio of 1.54. Leggett & Platt, Incorporated has a 52 week low of $6.47 and a 52 week high of $12.76. The business’s fifty day simple moving average is $9.09 and its 200 day simple moving average is $9.32.

Leggett & Platt (NYSE:LEG) last issued its quarterly earnings results on Monday, October 27th. The company reported $0.29 earnings per share (EPS) 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 period last year, the firm earned $0.32 EPS. The company’s revenue for the quarter was down 5.9% on a year-over-year basis. Leggett & Platt has set its FY 2025 guidance at 1.000-1.100 EPS. As a group, research analysts expect that Leggett & Platt, Incorporated will post 1.14 earnings per share for the current fiscal year.

Leggett & Platt Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, January 15th. Shareholders 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 yield of 1.9%. Leggett & Platt’s dividend payout ratio is currently 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.