Free Trial

Geode Capital Management LLC Raises Stake in Leggett & Platt, Incorporated (NYSE:LEG)

Leggett & Platt logo with Consumer Discretionary background

Geode Capital Management LLC boosted its holdings in shares of Leggett & Platt, Incorporated (NYSE:LEG - Free Report) by 2.9% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,156,322 shares of the company's stock after buying an additional 60,166 shares during the quarter. Geode Capital Management LLC owned 1.61% of Leggett & Platt worth $29,377,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC grew its position in shares of Leggett & Platt by 76.3% during the third quarter. Allspring Global Investments Holdings LLC now owns 2,043 shares of the company's stock worth $28,000 after buying an additional 884 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. purchased a new position in Leggett & Platt in the third quarter worth approximately $29,000. Point72 Hong Kong Ltd acquired a new position in Leggett & Platt during the 3rd quarter worth approximately $37,000. nVerses Capital LLC purchased a new stake in shares of Leggett & Platt in the 3rd quarter valued at approximately $41,000. Finally, Brooklyn Investment Group acquired a new stake in shares of Leggett & Platt in the 3rd quarter valued at $44,000. Hedge funds and other institutional investors own 64.23% of the company's stock.

Analyst Ratings Changes

Separately, Piper Sandler upgraded shares of Leggett & Platt from an "underweight" rating to a "neutral" rating and boosted their target price for the stock from $11.00 to $13.00 in a research note on Wednesday, October 30th. Four research analysts have rated the stock with a hold rating, According to data from MarketBeat.com, Leggett & Platt currently has an average rating of "Hold" and an average price target of $12.67.

Check Out Our Latest Stock Analysis on Leggett & Platt

Leggett & Platt Stock Down 0.7 %

Leggett & Platt stock traded down $0.07 during mid-day trading on Friday, hitting $9.56. The company had a trading volume of 1,793,785 shares, compared to its average volume of 2,249,744. The stock has a market cap of $1.28 billion, a price-to-earnings ratio of -1.59 and a beta of 1.07. The company has a quick ratio of 0.84, a current ratio of 1.48 and a debt-to-equity ratio of 2.13. Leggett & Platt, Incorporated has a 1 year low of $9.40 and a 1 year high of $26.84. The business has a fifty day moving average of $11.77 and a 200 day moving average of $12.19.

Leggett & Platt (NYSE:LEG - Get Free Report) last announced its quarterly earnings results on Monday, October 28th. The company reported $0.32 EPS for the quarter, missing the consensus estimate of $0.33 by ($0.01). Leggett & Platt had a positive return on equity of 14.99% and a negative net margin of 18.53%. The company had revenue of $1.10 billion for the quarter, compared to analyst estimates of $1.10 billion. During the same quarter in the prior year, the business earned $0.36 earnings per share. Leggett & Platt's revenue was down 6.3% compared to the same quarter last year. On average, sell-side analysts expect that Leggett & Platt, Incorporated will post 1.05 earnings per share for the current fiscal year.

Leggett & Platt Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Friday, December 13th will be given a $0.05 dividend. The ex-dividend date is Friday, December 13th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 2.09%. Leggett & Platt's dividend payout ratio (DPR) is presently -3.33%.

Leggett & Platt Company Profile

(Free Report)

Leggett & Platt, Incorporated designs, manufactures, and sells engineered components and products in the United States, Europe, China, Canada, Mexico, and internationally. It operates through three segments: Bedding Products; Specialized Products; and Furniture, Flooring & Textile Products. The company offers steel rods, drawn wires, specialty foam chemicals and additives, innersprings, specialty foam for use in bedding and furniture, private label finished mattresses, ready-to-assemble mattress foundations, static foundations, and adjustable beds, as well as machines for producing innersprings; industrial sewing and quilting machines; mattress-packaging; and glue-drying equipment for various industrial users of steel rod and wire, manufacturers of finished bedding, bedding brands and mattress retailers, E-commerce retailers, big box retailers, department stores, and home improvement centers.

Featured Stories

Institutional Ownership by Quarter for Leggett & Platt (NYSE:LEG)

Should You Invest $1,000 in Leggett & Platt Right Now?

Before you consider Leggett & Platt, you'll want to hear this.

MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Leggett & Platt wasn't on the list.

While Leggett & Platt currently has a "Hold" rating among analysts, top-rated analysts believe these five stocks are better buys.

View The Five Stocks Here

7 Stocks to Own Before the 2024 Election Cover

Looking to avoid the hassle of mudslinging, volatility, and uncertainty? You'd need to be out of the market, which isn’t viable. So where should investors put their money? Find out with this report.

Get This Free Report
Like this article? Share it with a colleague.

Featured Articles and Offers

Recent Videos

Crypto Boom 2025: Bitcoin’s Rise and Trump’s Impact on the Market
Goldman Sachs’ 2025 Market Outlook: Top 3 Stock Picks
7 Stocks to Benefit From Trump’s Tariffs in 2025

Stock Lists

All Stock Lists

Investing Tools

Calendars and Tools

Search Headlines