Dynamic Technology Lab Private Ltd Buys 92,908 Shares of Leggett & Platt, Incorporated $LEG

Dynamic Technology Lab Private Ltd lifted its stake in shares of Leggett & Platt, Incorporated (NYSE:LEG) by 253.4% during the second quarter, Holdings Channel.com reports. The firm owned 129,576 shares of the company’s stock after buying an additional 92,908 shares during the period. Dynamic Technology Lab Private Ltd’s holdings in Leggett & Platt were worth $1,156,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Millennium Management LLC boosted its position in Leggett & Platt by 784.7% in the 1st quarter. Millennium Management LLC now owns 4,605,416 shares of the company’s stock valued at $36,429,000 after buying an additional 4,084,866 shares during the last quarter. Cubist Systematic Strategies LLC lifted its stake in shares of Leggett & Platt by 1,495.6% during the first quarter. Cubist Systematic Strategies LLC now owns 1,539,758 shares of the company’s stock valued at $12,179,000 after acquiring an additional 1,443,257 shares during the period. Vanguard Group Inc. lifted its stake in shares of Leggett & Platt by 7.1% during the first quarter. Vanguard Group Inc. now owns 16,583,732 shares of the company’s stock valued at $131,177,000 after acquiring an additional 1,105,256 shares during the period. Geode Capital Management LLC boosted its holdings in Leggett & Platt by 47.8% in the second quarter. Geode Capital Management LLC now owns 3,175,556 shares of the company’s stock valued at $28,330,000 after acquiring an additional 1,026,608 shares during the last quarter. Finally, Canada Pension Plan Investment Board increased its position in Leggett & Platt by 15,000.0% in the first quarter. Canada Pension Plan Investment Board now owns 634,200 shares of the company’s stock worth $5,017,000 after purchasing an additional 630,000 shares during the period. Institutional investors and hedge funds own 64.23% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have issued reports on the stock. Weiss Ratings restated a “sell (d+)” rating on shares of Leggett & Platt in a research report on Wednesday. Zacks Research raised shares of Leggett & Platt from a “hold” rating to a “strong-buy” rating in a research note on Thursday, November 6th. Truist Financial raised their price objective 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. Wall Street Zen lowered shares of Leggett & Platt from a “buy” rating to a “hold” rating in a report on Saturday, August 2nd. Finally, The Goldman Sachs Group reissued a “neutral” rating and issued a $11.00 price target on shares of Leggett & Platt in a research note on Wednesday, October 29th. One investment analyst has rated the stock with a Strong Buy rating, three have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $11.00.

Leggett & Platt Trading Up 0.4%

LEG opened at $8.90 on Friday. The firm’s fifty day moving average is $9.04 and its two-hundred day moving average is $9.30. The firm has a market cap of $1.20 billion, a PE ratio of 5.52 and a beta of 0.74. Leggett & Platt, Incorporated has a twelve month low of $6.47 and a twelve month high of $13.20. The company has a debt-to-equity ratio of 1.54, a quick ratio of 1.36 and a current ratio of 2.15.

Leggett & Platt (NYSE:LEG) last announced 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 net margin of 5.38% and a return on equity of 16.27%. The firm had revenue of $1.04 billion during the quarter, compared to analyst estimates of $1.02 billion. During the same period last year, the firm earned $0.32 EPS. 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 anticipate that Leggett & Platt, Incorporated will post 1.14 EPS for the current year.

Leggett & Platt Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 15th. Shareholders of record on Monday, December 15th will be issued a $0.05 dividend. This represents a $0.20 annualized dividend and a dividend yield of 2.2%. The ex-dividend date is Monday, December 15th. Leggett & Platt’s dividend payout ratio is 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.