Leggett & Platt Target of Unusually Large Options Trading (NYSE:LEG)

Leggett & Platt, Incorporated (NYSE:LEG) was the target of some unusual options trading on Monday. Stock traders acquired 4,313 call options on the company. This represents an increase of approximately 624% compared to the average daily volume of 596 call options.

Institutional Trading of Leggett & Platt

Several institutional investors have recently modified their holdings of the stock. Palisade Asset Management LLC acquired a new stake in Leggett & Platt during the 3rd quarter worth $29,000. Quent Capital LLC acquired a new position in shares of Leggett & Platt during the 3rd quarter worth approximately $34,000. Advisory Services Network LLC acquired a new position in shares of Leggett & Platt in the third quarter worth $51,000. Nisa Investment Advisors LLC acquired a new stake in shares of Leggett & Platt during the second quarter valued at $76,000. Finally, State of Wyoming purchased a new stake in Leggett & Platt during the 1st quarter worth about $89,000. Hedge funds and other institutional investors own 64.23% of the company’s stock.

Leggett & Platt Trading Up 13.4%

NYSE LEG traded up $1.37 on Monday, reaching $11.63. The stock had a trading volume of 3,816,943 shares, compared to its average volume of 2,260,427. The company has a quick ratio of 1.36, a current ratio of 2.15 and a debt-to-equity ratio of 1.54. The stock has a fifty day moving average price of $9.09 and a two-hundred day moving average price of $9.31. Leggett & Platt has a 12-month low of $6.47 and a 12-month high of $12.76. The firm has a market capitalization of $1.58 billion, a price-to-earnings ratio of 7.22 and a beta of 0.74.

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

Leggett & Platt Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 15th. Stockholders of record on Monday, December 15th will be given a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a dividend yield of 1.7%. The ex-dividend date of this dividend is Monday, December 15th. Leggett & Platt’s dividend payout ratio (DPR) is 12.42%.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on LEG shares. The Goldman Sachs Group restated 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 raised their price target on shares of Leggett & Platt from $10.00 to $12.00 and gave the stock a “hold” rating in a research note on Wednesday, October 29th. Weiss Ratings reissued a “sell (d+)” rating on shares of Leggett & Platt in a research note on Tuesday, November 25th. Zacks Research upgraded Leggett & Platt from a “hold” rating to a “strong-buy” rating in a research report on Thursday, November 6th. Finally, Piper Sandler set a $9.00 price objective on Leggett & Platt in a research note on Wednesday, October 29th. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Leggett & Platt currently has a consensus rating of “Hold” and an average price target of $11.00.

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.