Leggett & Platt (NYSE:LEG) Stock Passes Above 200 Day Moving Average – Should You Sell?

Shares of Leggett & Platt, Incorporated (NYSE:LEG) crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $9.60 and traded as high as $10.99. Leggett & Platt shares last traded at $10.94, with a volume of 501,250 shares changing hands.

Analysts Set New Price Targets

Several research analysts recently weighed in on the company. Zacks Research cut Leggett & Platt from a “strong-buy” rating to a “hold” rating in a research note on Friday, December 5th. Weiss Ratings restated a “hold (c-)” rating on shares of Leggett & Platt in a report on Monday. The Goldman Sachs Group reiterated a “neutral” rating and set a $11.00 price objective on shares of Leggett & Platt in a research report on Wednesday, October 29th. Truist Financial upped their price target on Leggett & Platt from $10.00 to $12.00 and gave the company a “hold” rating in a research report on Wednesday, October 29th. Finally, Piper Sandler lifted their target price on Leggett & Platt from $10.00 to $12.00 and gave the company a “neutral” rating in a research note on Thursday, December 11th. Five research analysts have rated the stock with a Hold rating, According to MarketBeat.com, Leggett & Platt currently has a consensus rating of “Hold” and an average target price of $11.67.

Leggett & Platt Trading Down 0.0%

The company has a current ratio of 2.15, a quick ratio of 1.35 and a debt-to-equity ratio of 1.54. The firm has a market capitalization of $1.48 billion, a price-to-earnings ratio of 6.80 and a beta of 0.75. The company has a fifty day moving average price of $10.02 and a 200-day moving average price of $9.61.

Leggett & Platt (NYSE:LEG) last announced its earnings results on Monday, October 27th. The company reported $0.29 EPS for the quarter, missing the consensus estimate of $0.30 by ($0.01). Leggett & Platt had a return on equity of 16.27% and a net margin of 5.38%.The firm had revenue of $1.04 billion during the quarter, compared to the consensus estimate of $1.02 billion. During the same quarter last year, the business earned $0.32 EPS. The business’s 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. On average, equities research analysts predict that Leggett & Platt, Incorporated will post 1.14 EPS for the current year.

Leggett & Platt Announces Dividend

The business also recently announced 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 annualized dividend and a dividend yield of 1.8%. The ex-dividend date is Monday, December 15th. Leggett & Platt’s dividend payout ratio (DPR) is presently 12.42%.

Institutional Trading of Leggett & Platt

Hedge funds have recently modified their holdings of the company. CIBC Bancorp USA Inc. acquired a new position in Leggett & Platt in the third quarter worth about $126,000. Advisory Services Network LLC acquired a new position in shares of Leggett & Platt in the 3rd quarter worth approximately $51,000. Palisade Asset Management LLC acquired a new stake in Leggett & Platt during the 3rd quarter valued at $29,000. Dark Forest Capital Management LP bought a new position in Leggett & Platt in the 3rd quarter valued at $1,714,000. Finally, XTX Topco Ltd grew its holdings in shares of Leggett & Platt by 6.6% during the third quarter. XTX Topco Ltd now owns 66,141 shares of the company’s stock worth $587,000 after purchasing an additional 4,108 shares during the last quarter. Institutional investors own 64.23% of the company’s stock.

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.