Leggett & Platt, Incorporated (NYSE:LEG) Receives Average Recommendation of “Hold” from Brokerages

Shares of Leggett & Platt, Incorporated (NYSE:LEG) have earned an average recommendation of “Hold” from the five analysts that are covering the stock, Marketbeat Ratings reports. Five investment analysts have rated the stock with a hold recommendation. The average 1 year price objective among brokerages that have issued a report on the stock in the last year is $11.6667.

LEG has been the topic of several recent research reports. 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 raised their price target 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 lifted their price target on Leggett & Platt from $10.00 to $12.00 and gave the company a “neutral” rating in a report on Thursday, December 11th. Zacks Research downgraded Leggett & Platt from a “strong-buy” rating to a “hold” rating in a research report on Friday, December 5th. Finally, Wall Street Zen upgraded Leggett & Platt from a “hold” rating to a “buy” rating in a research report on Saturday, January 3rd.

Institutional Investors Weigh In On Leggett & Platt

Several institutional investors have recently bought and sold shares of LEG. Jones Financial Companies Lllp grew its position in Leggett & Platt by 8.4% in the 1st quarter. Jones Financial Companies Lllp now owns 14,661 shares of the company’s stock valued at $116,000 after buying an additional 1,132 shares in the last quarter. Amalgamated Bank boosted its holdings in shares of Leggett & Platt by 3.7% in the third quarter. Amalgamated Bank now owns 39,752 shares of the company’s stock valued at $353,000 after acquiring an additional 1,419 shares in the last quarter. EP Wealth Advisors LLC increased its stake in shares of Leggett & Platt by 5.8% during the second quarter. EP Wealth Advisors LLC now owns 34,859 shares of the company’s stock valued at $311,000 after acquiring an additional 1,912 shares during the period. SummerHaven Investment Management LLC raised its holdings in Leggett & Platt by 2.8% during the second quarter. SummerHaven Investment Management LLC now owns 74,171 shares of the company’s stock worth $662,000 after purchasing an additional 2,005 shares in the last quarter. Finally, Penserra Capital Management LLC lifted its position in Leggett & Platt by 8.1% in the second quarter. Penserra Capital Management LLC now owns 27,789 shares of the company’s stock worth $247,000 after purchasing an additional 2,072 shares during the period. Institutional investors and hedge funds own 64.23% of the company’s stock.

Leggett & Platt Trading Up 2.1%

NYSE:LEG opened at $12.31 on Friday. The firm has a market capitalization of $1.67 billion, a P/E ratio of 7.65 and a beta of 0.73. The business has a 50 day simple moving average of $10.46 and a 200 day simple moving average of $9.76. The company has a debt-to-equity ratio of 1.54, a current ratio of 2.15 and a quick ratio of 1.35. Leggett & Platt has a 12-month low of $6.47 and a 12-month high of $12.38.

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 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 company had revenue of $1.04 billion during the quarter, compared to analyst estimates of $1.02 billion. During the same period in the prior year, the business earned $0.32 earnings per share. Leggett & Platt’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 predict that Leggett & Platt will post 1.14 EPS for the current year.

Leggett & Platt Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 15th. Stockholders 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 dividend yield of 1.6%. Leggett & Platt’s dividend payout ratio is presently 12.42%.

About Leggett & Platt

Leggett & Platt, Inc is a diversified manufacturer specializing in the design, engineering and production of a wide range of engineered components and products. The company’s offerings span several end markets, including residential bedding, commercial and residential furniture, automotive seating and interiors, aerospace applications and industrial products. By integrating product design with proprietary manufacturing processes, Leggett & Platt serves as a key supplier to both original equipment manufacturers and aftermarket distributors.

The company’s core product lines include coil springs and support systems for mattresses and furniture, adjustable bed mechanisms, engineered components such as extruded and formed metal products, and specialty foam and bedding products.