Versor Investments LP Invests $234,000 in Leggett & Platt, Incorporated $LEG

Versor Investments LP purchased a new position in Leggett & Platt, Incorporated (NYSE:LEG) during the first quarter, Holdings Channel reports. The fund purchased 29,597 shares of the company’s stock, valued at approximately $234,000.

A number of other institutional investors have also recently made changes to their positions in the stock. Oppenheimer & Co. Inc. increased its holdings in shares of Leggett & Platt by 8.9% in the 1st quarter. Oppenheimer & Co. Inc. now owns 24,501 shares of the company’s stock worth $194,000 after buying an additional 2,000 shares during the last quarter. Deutsche Bank AG increased its holdings in shares of Leggett & Platt by 3.2% in the 4th quarter. Deutsche Bank AG now owns 67,319 shares of the company’s stock worth $646,000 after buying an additional 2,109 shares during the last quarter. Investors Research Corp increased its holdings in shares of Leggett & Platt by 10.5% in the 1st quarter. Investors Research Corp now owns 28,322 shares of the company’s stock worth $224,000 after buying an additional 2,687 shares during the last quarter. Captrust Financial Advisors increased its holdings in shares of Leggett & Platt by 27.5% in the 4th quarter. Captrust Financial Advisors now owns 13,521 shares of the company’s stock worth $130,000 after buying an additional 2,915 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD increased its holdings in shares of Leggett & Platt by 7.3% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 88,936 shares of the company’s stock worth $854,000 after buying an additional 6,015 shares during the last quarter. Institutional investors own 64.23% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently commented on LEG. Zacks Research lowered shares of Leggett & Platt from a “hold” rating to a “strong sell” rating in a report on Monday, August 18th. The Goldman Sachs Group increased their target price on shares of Leggett & Platt from $8.00 to $9.00 and gave the company a “neutral” rating in a report on Wednesday, April 30th. Wall Street Zen cut shares of Leggett & Platt from a “buy” rating to a “hold” rating in a research report on Saturday, August 2nd. Finally, Piper Sandler restated a “neutral” rating and set a $9.00 price target (down from $10.00) on shares of Leggett & Platt in a research report on Monday, August 4th. Three investment analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Reduce” and an average price target of $9.67.

Leggett & Platt Stock Performance

NYSE LEG opened at $9.6550 on Friday. The company has a 50-day simple moving average of $9.47 and a two-hundred day simple moving average of $8.94. The company has a quick ratio of 1.36, a current ratio of 2.17 and a debt-to-equity ratio of 2.09. Leggett & Platt, Incorporated has a 12-month low of $6.47 and a 12-month high of $14.23. The firm has a market cap of $1.31 billion, a price-to-earnings ratio of 9.37 and a beta of 0.70.

Leggett & Platt (NYSE:LEG) last released its quarterly earnings data on Thursday, July 31st. The company reported $0.30 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.29 by $0.01. Leggett & Platt had a net margin of 3.36% and a return on equity of 19.42%. The firm had revenue of $1.06 billion for the quarter, compared to analysts’ expectations of $1.06 billion. During the same quarter in the previous year, the company earned $0.29 earnings per share. The company’s revenue for the quarter 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. On average, equities analysts forecast that Leggett & Platt, Incorporated will post 1.14 EPS for the current year.

Leggett & Platt Announces Dividend

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

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.