Trexquant Investment LP Acquires 374,073 Shares of Leggett & Platt, Incorporated $LEG

Trexquant Investment LP lifted its holdings in shares of Leggett & Platt, Incorporated (NYSE:LEG) by 31.8% in the first quarter, according to its most recent filing with the SEC. The firm owned 1,551,964 shares of the company’s stock after acquiring an additional 374,073 shares during the period. Trexquant Investment LP owned approximately 1.15% of Leggett & Platt worth $12,276,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Coldstream Capital Management Inc. acquired a new stake in shares of Leggett & Platt during the 4th quarter worth about $111,000. Banco Bilbao Vizcaya Argentaria S.A. acquired a new stake in shares of Leggett & Platt during the 1st quarter worth about $102,000. Captrust Financial Advisors increased its position in shares of Leggett & Platt by 27.5% during the 4th quarter. Captrust Financial Advisors now owns 13,521 shares of the company’s stock worth $130,000 after purchasing an additional 2,915 shares in the last quarter. Janney Montgomery Scott LLC acquired a new stake in Leggett & Platt in the 1st quarter valued at about $107,000. Finally, Susquehanna Fundamental Investments LLC acquired a new stake in Leggett & Platt in the 4th quarter valued at about $131,000. 64.23% of the stock is owned by institutional investors.

Leggett & Platt Stock Up 0.0%

Leggett & Platt stock opened at $9.73 on Friday. The company’s 50 day simple moving average is $9.52 and its 200 day simple moving average is $8.93. Leggett & Platt, Incorporated has a fifty-two week low of $6.47 and a fifty-two week high of $14.23. The firm has a market capitalization of $1.32 billion, a price-to-earnings ratio of 9.45 and a beta of 0.70. The company has a debt-to-equity ratio of 2.09, a current ratio of 2.17 and a quick ratio of 1.36.

Leggett & Platt (NYSE:LEG) last released its quarterly earnings data on Thursday, July 31st. The company reported $0.30 earnings per share for the quarter, topping the consensus estimate of $0.29 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 $1.06 billion for the quarter, compared to analyst estimates of $1.06 billion. During the same quarter last year, the firm earned $0.29 EPS. Leggett & Platt’s quarterly revenue was down 6.3% compared to the same quarter last year. Leggett & Platt has set its FY 2025 guidance at 1.000-1.200 EPS. As a group, sell-side analysts anticipate that Leggett & Platt, Incorporated will post 1.14 EPS for the current year.

Leggett & Platt Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 15th. Shareholders of record on Monday, September 15th will be paid a $0.05 dividend. The ex-dividend date of this dividend is Monday, September 15th. This represents a $0.20 dividend on an annualized basis and a yield of 2.1%. Leggett & Platt’s payout ratio is presently 19.42%.

Analyst Ratings Changes

Several research analysts have recently issued reports on LEG shares. Piper Sandler reaffirmed a “neutral” rating and issued a $9.00 target price (down previously from $10.00) on shares of Leggett & Platt in a research note on Monday, August 4th. Wall Street Zen lowered shares of Leggett & Platt from a “buy” rating to a “hold” rating in a research note on Saturday, August 2nd. Finally, Zacks Research lowered shares of Leggett & Platt from a “hold” rating to a “strong sell” rating in a research note on Monday, August 18th. Three research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Reduce” and a consensus target price 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.