Leggett & Platt (NYSE:LEG) Reaches New 52-Week High – What’s Next?

Leggett & Platt, Incorporated (NYSE:LEG) shares reached a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $12.54 and last traded at $12.3340, with a volume of 93104 shares traded. The stock had previously closed at $12.31.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on LEG. Wall Street Zen upgraded Leggett & Platt from a “hold” rating to a “buy” rating in a report on Saturday, January 3rd. The Goldman Sachs Group reiterated a “neutral” rating and set a $11.00 price target on shares of Leggett & Platt in a report on Wednesday, October 29th. Zacks Research lowered shares of Leggett & Platt from a “strong-buy” rating to a “hold” rating in a research report on Friday, December 5th. Piper Sandler boosted their target price on Leggett & Platt from $10.00 to $12.00 and gave the company a “neutral” rating in a research note on Thursday, December 11th. Finally, Truist Financial upped 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. Five investment analysts have rated the stock with a Hold rating, According to data from MarketBeat, Leggett & Platt presently has an average rating of “Hold” and a consensus target price of $11.67.

Leggett & Platt Stock Down 0.8%

The firm has a market cap of $1.65 billion, a PE ratio of 7.56 and a beta of 0.73. The company has a debt-to-equity ratio of 1.54, a quick ratio of 1.35 and a current ratio of 2.15. The company’s 50-day simple moving average is $10.59 and its two-hundred day simple moving average is $9.81.

Leggett & Platt (NYSE:LEG) last released its quarterly 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). The firm had revenue of $1.04 billion for the quarter, compared to the consensus estimate of $1.02 billion. Leggett & Platt had a net margin of 5.38% and a return on equity of 16.27%. The company’s revenue for the quarter was down 5.9% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.32 earnings per share. Leggett & Platt has set its FY 2025 guidance at 1.000-1.100 EPS. On average, analysts predict that Leggett & Platt, Incorporated will post 1.14 earnings per share for the current fiscal year.

Leggett & Platt Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 15th. Stockholders of record on Monday, December 15th will be given a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a dividend yield of 1.6%. The ex-dividend date is Monday, December 15th. Leggett & Platt’s dividend payout ratio (DPR) is 12.42%.

Hedge Funds Weigh In On Leggett & Platt

Several institutional investors and hedge funds have recently modified their holdings of the stock. Palisade Asset Management LLC acquired a new stake in Leggett & Platt during the 3rd quarter worth $29,000. Quent Capital LLC acquired a new position in shares of Leggett & Platt during the third quarter worth $34,000. Advisory Services Network LLC bought a new stake in shares of Leggett & Platt in the third quarter worth $51,000. Nisa Investment Advisors LLC bought a new position in shares of Leggett & Platt in the 2nd quarter worth about $76,000. Finally, SeaCrest Wealth Management LLC bought a new stake in Leggett & Platt in the 2nd quarter valued at about $89,000. Institutional investors and hedge funds own 64.23% of the company’s stock.

Leggett & Platt Company Profile

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.