Leggett & Platt (NYSE:LEG) Sets New 52-Week High – Should You Buy?

Leggett & Platt, Incorporated (NYSE:LEG)’s stock price reached a new 52-week high on Thursday . The stock traded as high as $12.09 and last traded at $12.0450, with a volume of 857088 shares changing hands. The stock had previously closed at $11.72.

Analyst Ratings Changes

Several research firms have recently issued reports on LEG. Wall Street Zen upgraded Leggett & Platt from a “hold” rating to a “buy” rating in a research report on Saturday, January 3rd. Weiss Ratings restated a “hold (c-)” rating on shares of Leggett & Platt in a report on Monday, December 29th. Zacks Research downgraded shares of Leggett & Platt from a “strong-buy” rating to a “hold” rating in a research note on Friday, December 5th. Piper Sandler lifted their price target on shares of Leggett & Platt from $10.00 to $12.00 and gave the stock a “neutral” rating in a research report on Thursday, December 11th. Finally, Truist Financial upped their price objective on shares of Leggett & Platt from $10.00 to $12.00 and gave the company a “hold” rating in a research report on Wednesday, October 29th. Five analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $11.67.

Leggett & Platt Stock Performance

The company has a market capitalization of $1.62 billion, a P/E ratio of 7.46 and a beta of 0.73. The stock’s fifty day moving average price is $10.35 and its 200-day moving average price is $9.72. 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 (NYSE:LEG) last announced its quarterly earnings results on Monday, October 27th. The company reported $0.29 earnings per share for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.01). Leggett & Platt had a return on equity of 16.27% and a net margin of 5.38%.The business had revenue of $1.04 billion for 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% compared to the same quarter last year. Leggett & Platt has set its FY 2025 guidance at 1.000-1.100 EPS. As a group, research analysts anticipate that Leggett & Platt, Incorporated will post 1.14 EPS for the current fiscal year.

Leggett & Platt Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 15th. Investors of record on Monday, December 15th will be paid a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a yield of 1.7%. The ex-dividend date is Monday, December 15th. Leggett & Platt’s dividend payout ratio is 12.42%.

Hedge Funds Weigh In On Leggett & Platt

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

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.