Seven Six Capital Management LLC Raises Holdings in Leggett & Platt, Incorporated $LEG

Key Points

• Seven Six Capital Management LLC increased its stake in Leggett & Platt by 26.8% in the 1st quarter, now holding 743,501 shares valued at approximately $5.88 million.
• Recent analyst reports have downgraded Leggett & Platt shares, with Wall Street Zen changing its rating from "buy" to "hold" and Zacks Research labeling it a "strong sell".
• The company announced a quarterly dividend of $0.05 per share, resulting in an annualized yield of 2.0%, with the payment scheduled for October 15th.

Seven Six Capital Management LLC lifted its holdings in Leggett & Platt, Incorporated (NYSE:LEG - Free Report) by 26.8% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 743,501 shares of the company's stock after buying an additional 157,334 shares during the period. Leggett & Platt comprises approximately 5.3% of Seven Six Capital Management LLC's portfolio, making the stock its 6th biggest position. Seven Six Capital Management LLC owned about 0.55% of Leggett & Platt worth $5,881,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. State of Wyoming acquired a new stake in shares of Leggett & Platt in the first quarter worth $89,000. Banco Bilbao Vizcaya Argentaria S.A. purchased a new position in Leggett & Platt in the first quarter valued at about $102,000. Janney Montgomery Scott LLC purchased a new position in Leggett & Platt in the first quarter valued at about $107,000. Blueshift Asset Management LLC purchased a new position in Leggett & Platt in the first quarter valued at about $128,000. Finally, Captrust Financial Advisors grew its stake in Leggett & Platt by 27.5% in the fourth quarter. Captrust Financial Advisors now owns 13,521 shares of the company's stock valued at $130,000 after purchasing an additional 2,915 shares in the last quarter. Institutional investors and hedge funds own 64.23% of the company's stock.

Leggett & Platt Stock Performance

Shares of Leggett & Platt stock traded down $0.22 during trading on Friday, reaching $9.71. The company's stock had a trading volume of 538,837 shares, compared to its average volume of 2,412,145. The company has a debt-to-equity ratio of 2.09, a quick ratio of 1.36 and a current ratio of 2.17. The business's fifty day moving average price is $9.60 and its 200-day moving average price is $8.92. The firm has a market cap of $1.31 billion, a price-to-earnings ratio of 9.42 and a beta of 0.70. Leggett & Platt, Incorporated has a one year low of $6.47 and a one year high of $14.23.

Leggett & Platt (NYSE:LEG - Get Free Report) last issued its quarterly earnings results on Thursday, July 31st. The company reported $0.30 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.29 by $0.01. Leggett & Platt had a return on equity of 19.42% and a net margin of 3.36%.The firm had revenue of $1.06 billion for the quarter, compared to analyst estimates of $1.06 billion. During the same period in the previous year, the company posted $0.29 earnings per share. The company'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, equities research analysts predict that Leggett & Platt, Incorporated will post 1.14 earnings per share for the current year.

Leggett & Platt Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 15th. Investors of record on Monday, September 15th will be paid a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a yield of 2.1%. The ex-dividend date is Monday, September 15th. Leggett & Platt's payout ratio is currently 19.42%.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on LEG. Zacks Research downgraded Leggett & Platt from a "hold" rating to a "strong sell" rating in a research note on Monday, August 18th. Wall Street Zen downgraded Leggett & Platt from a "buy" rating to a "hold" rating in a research note on Saturday, August 2nd. Finally, Piper Sandler restated 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. Three investment analysts have rated the stock with a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of "Reduce" and a consensus target price of $9.67.

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.