Leggett & Platt (NYSE:LEG) Hits New 12-Month High – Still a Buy?

Leggett & Platt, Incorporated (NYSE:LEG) reached a new 52-week high on Thursday . The stock traded as high as $12.77 and last traded at $12.6850, with a volume of 200558 shares changing hands. The stock had previously closed at $12.59.

Wall Street Analysts Forecast Growth

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

Leggett & Platt Price Performance

The company has a debt-to-equity ratio of 1.54, a quick ratio of 1.35 and a current ratio of 2.15. The firm has a fifty day simple moving average of $11.03 and a 200 day simple moving average of $9.94. The company has a market capitalization of $1.70 billion, a PE ratio of 7.78 and a beta of 0.73.

Leggett & Platt (NYSE:LEG) last posted its quarterly earnings results on Monday, October 27th. The company reported $0.29 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.01). The firm had revenue of $1.04 billion for the quarter, compared to the consensus estimate of $1.02 billion. Leggett & Platt had a return on equity of 16.27% and a net margin of 5.38%.Leggett & Platt’s quarterly revenue was down 5.9% compared to the same quarter last year. During the same period in the previous year, the company posted $0.32 EPS. Leggett & Platt has set its FY 2025 guidance at 1.000-1.100 EPS. Equities analysts anticipate that Leggett & Platt, Incorporated will post 1.14 EPS for the current year.

Leggett & Platt Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, January 15th. Shareholders of record on Monday, December 15th were given a dividend of $0.05 per share. The ex-dividend date of this dividend was Monday, December 15th. This represents a $0.20 dividend on an annualized basis and a yield of 1.6%. Leggett & Platt’s dividend payout ratio (DPR) is 12.42%.

Hedge Funds Weigh In On Leggett & Platt

Several institutional investors have recently bought and sold shares of the business. Palisade Asset Management LLC purchased a new stake in Leggett & Platt during the third quarter worth $29,000. Quent Capital LLC bought a new position in shares of Leggett & Platt in the 3rd quarter worth $34,000. Advisory Services Network LLC purchased a new stake in shares of Leggett & Platt during the 3rd quarter worth $51,000. Nisa Investment Advisors LLC bought a new stake in Leggett & Platt during the second quarter valued at about $76,000. Finally, SeaCrest Wealth Management LLC bought a new stake in Leggett & Platt during the second quarter valued at about $89,000. 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.