Ingalls & Snyder LLC Makes New $152,000 Investment in Leggett & Platt, Incorporated $LEG

Ingalls & Snyder LLC purchased a new stake in shares of Leggett & Platt, Incorporated (NYSE:LEG) during the 2nd quarter, HoldingsChannel.com reports. The firm purchased 17,000 shares of the company’s stock, valued at approximately $152,000.

A number of other large investors also recently modified their holdings of the company. State of Wyoming purchased a new position in Leggett & Platt during the first quarter valued at approximately $89,000. SeaCrest Wealth Management LLC bought a new position in Leggett & Platt in the 2nd quarter valued at $89,000. Chicago Partners Investment Group LLC purchased a new position in shares of Leggett & Platt during the 2nd quarter valued at $97,000. Signaturefd LLC increased its holdings in shares of Leggett & Platt by 344.5% in the second quarter. Signaturefd LLC now owns 11,072 shares of the company’s stock worth $99,000 after purchasing an additional 8,581 shares during the period. Finally, Parallel Advisors LLC raised its position in shares of Leggett & Platt by 385.3% in the second quarter. Parallel Advisors LLC now owns 11,229 shares of the company’s stock worth $100,000 after buying an additional 8,915 shares in the last quarter. 64.23% of the stock is currently owned by institutional investors.

Leggett & Platt Stock Performance

Leggett & Platt stock opened at $9.19 on Tuesday. Leggett & Platt, Incorporated has a 1-year low of $6.47 and a 1-year high of $13.20. The firm has a market cap of $1.24 billion, a P/E ratio of 8.92 and a beta of 0.72. The company has a current ratio of 2.17, a quick ratio of 1.36 and a debt-to-equity ratio of 2.09. The firm has a 50-day moving average of $9.25 and a 200-day moving average of $9.12.

Leggett & Platt (NYSE:LEG) last announced its earnings results on Monday, October 27th. The company reported $0.29 EPS for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.01). Leggett & Platt had a net margin of 3.36% and a return on equity of 19.42%. The business had revenue of $1.04 billion for the quarter, compared to the consensus estimate of $1.02 billion. During the same quarter in the prior year, the company earned $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. Sell-side analysts expect that Leggett & Platt, Incorporated will post 1.14 EPS for the current year.

Leggett & Platt Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, October 15th. Investors of record on Monday, September 15th were paid a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a yield of 2.2%. The ex-dividend date of this dividend was Monday, September 15th. Leggett & Platt’s dividend payout ratio is presently 19.42%.

Analyst Upgrades and Downgrades

LEG has been the subject of several recent analyst reports. Zacks Research upgraded Leggett & Platt from a “strong sell” rating to a “hold” rating in a research report on Wednesday, October 8th. Weiss Ratings reissued a “sell (d)” rating on shares of Leggett & Platt in a report on Wednesday, October 8th. Piper Sandler reaffirmed a “neutral” rating and issued a $9.00 target price (down from $10.00) on shares of Leggett & Platt in a research note on Monday, August 4th. 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. Four equities research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Reduce” and a consensus price target of $9.67.

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.