Leggett & Platt, Incorporated (NYSE:LEG) Receives $11.67 Average PT from Brokerages

Leggett & Platt, Incorporated (NYSE:LEG) has been given a consensus rating of “Hold” by the five research firms that are covering the company, MarketBeat.com reports. Five equities research analysts have rated the stock with a hold rating. The average 1 year target price among brokers that have issued ratings on the stock in the last year is $11.6667.

Several equities analysts recently commented on LEG shares. The Goldman Sachs Group reaffirmed a “neutral” rating and set a $11.00 price objective on shares of Leggett & Platt in a research note on Wednesday, October 29th. Wall Street Zen cut Leggett & Platt from a “buy” rating to a “hold” rating in a research report on Saturday. Truist Financial raised their price target on Leggett & Platt from $10.00 to $12.00 and gave the company a “hold” rating in a report on Wednesday, October 29th. Zacks Research lowered Leggett & Platt from a “strong-buy” rating to a “hold” rating in a report on Friday, December 5th. Finally, Weiss Ratings restated a “hold (c-)” rating on shares of Leggett & Platt in a research report on Monday, December 29th.

Leggett & Platt Price Performance

Shares of NYSE LEG opened at $12.58 on Friday. The company has a debt-to-equity ratio of 1.54, a quick ratio of 1.35 and a current ratio of 2.15. Leggett & Platt has a fifty-two week low of $6.47 and a fifty-two week high of $12.77. The stock has a market cap of $1.70 billion, a PE ratio of 7.81 and a beta of 0.73. The stock has a fifty day moving average of $10.82 and a 200-day moving average of $9.88.

Leggett & Platt (NYSE:LEG) last issued its earnings results on Monday, October 27th. The company reported $0.29 EPS for the quarter, missing the consensus estimate of $0.30 by ($0.01). The company had revenue of $1.04 billion during the quarter, compared to the consensus estimate of $1.02 billion. Leggett & Platt had a return on equity of 16.27% and a net margin of 5.38%.The firm’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 business earned $0.32 EPS. Leggett & Platt has set its FY 2025 guidance at 1.000-1.100 EPS. Equities research analysts anticipate that Leggett & Platt will post 1.14 earnings per share for the current year.

Leggett & Platt Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, January 15th. Stockholders of record on Monday, December 15th were issued a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.6%. The ex-dividend date of this dividend was Monday, December 15th. Leggett & Platt’s payout ratio is currently 12.42%.

Institutional Investors Weigh In On Leggett & Platt

A number of large investors have recently added to or reduced their stakes in LEG. Royal Bank of Canada increased its position in shares of Leggett & Platt by 59.5% during the 1st quarter. Royal Bank of Canada now owns 47,054 shares of the company’s stock valued at $372,000 after purchasing an additional 17,561 shares during the last quarter. Jones Financial Companies Lllp grew its position in Leggett & Platt by 8.4% during the first quarter. Jones Financial Companies Lllp now owns 14,661 shares of the company’s stock valued at $116,000 after acquiring an additional 1,132 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in shares of Leggett & Platt by 3.0% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 454,096 shares of the company’s stock worth $3,592,000 after acquiring an additional 13,187 shares in the last quarter. Jane Street Group LLC lifted its holdings in shares of Leggett & Platt by 36.3% in the 1st quarter. Jane Street Group LLC now owns 1,175,452 shares of the company’s stock worth $9,298,000 after acquiring an additional 312,840 shares during the last quarter. Finally, Acadian Asset Management LLC boosted its stake in shares of Leggett & Platt by 113.5% in the 1st quarter. Acadian Asset Management LLC now owns 109,638 shares of the company’s stock valued at $866,000 after purchasing an additional 58,292 shares in the last quarter. Hedge funds and other institutional investors own 64.23% of the company’s stock.

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.