Leggett & Platt, Incorporated (NYSE:LEG) Receives $10.67 Consensus PT from Brokerages

Shares of Leggett & Platt, Incorporated (NYSE:LEG) have earned a consensus recommendation of “Hold” from the five brokerages that are presently covering the stock, MarketBeat Ratings reports. Four research analysts have rated the stock with a hold rating and one has assigned a strong buy rating to the company. The average 12-month target price among analysts that have covered the stock in the last year is $10.6667.

Several brokerages have issued reports on LEG. Zacks Research upgraded Leggett & Platt from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, August 19th. Weiss Ratings lowered Leggett & Platt from a “hold (c)” rating to a “hold (c-)” rating in a research note on Wednesday, July 29th. Truist Financial dropped their price objective on Leggett & Platt from $13.00 to $11.00 and set a “hold” rating for the company in a report on Friday, May 8th. Finally, Piper Sandler cut their price objective on Leggett & Platt from $12.00 to $10.00 and set a “neutral” rating on the stock in a research report on Wednesday, August 12th.

Leggett & Platt Stock Performance

Shares of NYSE LEG opened at $9.20 on Monday. The company has a debt-to-equity ratio of 1.38, a quick ratio of 1.53 and a current ratio of 2.35. The company has a market cap of $1.26 billion, a P/E ratio of 5.90 and a beta of 0.73. The firm’s fifty day moving average is $10.47 and its two-hundred day moving average is $10.57. Leggett & Platt has a 52-week low of $8.34 and a 52-week high of $13.00.

Leggett & Platt (NYSE:LEG) last posted its earnings results on Thursday, August 6th. The company reported $0.39 EPS for the quarter, beating analysts’ consensus estimates of $0.26 by $0.13. Leggett & Platt had a return on equity of 13.31% and a net margin of 5.64%.The firm had revenue of $999.70 million during the quarter, compared to the consensus estimate of $982.86 million. During the same period in the prior year, the company earned $0.30 EPS. The company’s quarterly revenue was down 5.5% compared to the same quarter last year. As a group, analysts anticipate that Leggett & Platt will post 1.05 EPS for the current fiscal year.

Leggett & Platt Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, August 24th. Investors of record on Monday, August 10th were paid a $0.05 dividend. The ex-dividend date of this dividend was Monday, August 10th. This represents a $0.20 annualized dividend and a yield of 2.2%. Leggett & Platt’s dividend payout ratio is 12.82%.

Hedge Funds Weigh In On Leggett & Platt

Institutional investors have recently bought and sold shares of the business. Hantz Financial Services Inc. raised its holdings in Leggett & Platt by 32.0% in the fourth quarter. Hantz Financial Services Inc. now owns 3,231 shares of the company’s stock worth $36,000 after purchasing an additional 783 shares in the last quarter. Optimize Financial Inc boosted its holdings in shares of Leggett & Platt by 1.5% in the 4th quarter. Optimize Financial Inc now owns 60,507 shares of the company’s stock valued at $666,000 after buying an additional 868 shares in the last quarter. GAMMA Investing LLC boosted its holdings in shares of Leggett & Platt by 18.3% in the 2nd quarter. GAMMA Investing LLC now owns 6,800 shares of the company’s stock valued at $80,000 after buying an additional 1,051 shares in the last quarter. Jones Financial Companies Lllp grew its position in shares of Leggett & Platt by 8.4% in the 1st quarter. Jones Financial Companies Lllp now owns 14,661 shares of the company’s stock worth $116,000 after buying an additional 1,132 shares during the last quarter. Finally, Brooklyn Investment Group grew its position in shares of Leggett & Platt by 3.6% in the 4th quarter. Brooklyn Investment Group now owns 42,539 shares of the company’s stock worth $468,000 after buying an additional 1,484 shares during the last quarter. 64.23% of the stock is owned by hedge funds and other institutional investors.

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.