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, Flooring & Textile, and Specialized Products. The Bedding Products segment supplies of products and components for the home, including mattress springs and specialty foam, as well as adjustable beds, bedding machinery, steel rod, and drawn wire. The Flooring & Textile Products segment is a producer of an extensive line of components and engineered systems for office, residential, and contract furniture manufacturers. The Specialized Products segment supplies titanium, nickel, and stainless steel tubing for the aerospace industry, and serve the construction market with hydraulic cylinders group. The company was founded J. P. Productsand C. B. Platt in 1883 and is headquartered in Carthage, MO.

Company profile
Ticker
LEG
Exchange
Website
CEO
Karl Glassman
Employees
Incorporated
Location
Fiscal year end
Industry (SIC)
SEC CIK
Corporate docs
Subsidiaries
Administradora Soal S.A. de C.V. • Atlas Spring Manufacturing Corp. • Avica Aerospace Ducting Limited • Buffalo Batt & Felt, LLC • Changshu L&V Automobile Motion Co. Ltd. • Chieng Yeng Ent. Co., Ltd. • Church Corporate Park Owner’s Association, LLC • Crest-Foam Corp. • Industrial Components Group • David Hart Aerospace Pipes Limited ...
IRS number
440324630
LEG stock data
Analyst ratings and price targets
Current price
Average target
$39.50
Low target
$36.00
High target
$43.00
Goldman Sachs
Maintains
$43.00
Piper Sandler
Maintains
$36.00
Investment data
Securities sold
Number of investors
Calendar
4 Aug 22
12 Aug 22
31 Dec 22
Financial summary
Quarter (USD) | Jun 22 | Mar 22 | Dec 21 | Sep 21 | |
---|---|---|---|---|---|
Revenue | |||||
Cost of revenue | |||||
Operating income | |||||
Operating margin | |||||
Net income | |||||
Net profit margin | |||||
Cash on hand | |||||
Change in cash | |||||
Diluted EPS |
Annual (USD) | Dec 21 | Dec 20 | Dec 19 | Dec 18 | |
---|---|---|---|---|---|
Revenue | |||||
Cost of revenue | |||||
Operating income | |||||
Operating margin | |||||
Net income | |||||
Net profit margin | |||||
Cash on hand | |||||
Change in cash | |||||
Diluted EPS |
Cash burn rate (est.) | Burn method: Change in cash | Burn method: Operating income | Burn method: FCF (opex + capex) | Last Q | Avg 4Q | Last Q | Avg 4Q | Last Q | Avg 4Q |
---|---|---|---|---|---|---|
Cash on hand (at last report) | 269.9M | 269.9M | 269.9M | 269.9M | 269.9M | 269.9M |
Cash burn (monthly) | 19.13M | (no burn) | (no burn) | (no burn) | (no burn) | (no burn) |
Cash used (since last report) | 27.85M | n/a | n/a | n/a | n/a | n/a |
Cash remaining | 242.05M | n/a | n/a | n/a | n/a | n/a |
Runway (months of cash) | 12.7 | n/a | n/a | n/a | n/a | n/a |
Recent insider trades
Date | Owner | Security | Transaction | Code | Indirect | 10b5-1 | $Price | #Shares | $Value | #Remaining |
---|---|---|---|---|---|---|---|---|---|---|
5 Aug 22 | Karl G Glassman | Common Stock | Sell | Dispose S | No | No | 40.53 | 26,401 | 1.07M | 852,950.28 |
29 Jul 22 | Benjamin Michael Burns | Common Stock | Grant | Acquire A | Yes | No | 33.694 | 5.061 | 170.54 | 1,500.207 |
29 Jul 22 | Benjamin Michael Burns | Common Stock | Grant | Acquire A | No | No | 31.712 | 138.263 | 4.38K | 37,578.319 |
29 Jul 22 | Benjamin Michael Burns | Common Stock | Grant | Acquire A | No | No | 33.694 | 15.345 | 517.03 | 37,440.056 |
29 Jul 22 | J Mitchell Dolloff | Common Stock | Grant | Acquire A | No | No | 31.712 | 339.595 | 10.77K | 295,451.874 |
29 Jul 22 | J Mitchell Dolloff | Common Stock | Grant | Acquire A | No | No | 33.694 | 62.146 | 2.09K | 295,112.279 |
29 Jul 22 | Scott S Douglas | Common Stock | Grant | Acquire A | No | No | 31.712 | 29.981 | 950.77 | 80,656.484 |
29 Jul 22 | Scott S Douglas | Common Stock | Grant | Acquire A | No | No | 33.694 | 26.44 | 890.87 | 80,626.503 |
29 Jul 22 | Karl G Glassman | Common Stock | Grant | Acquire A | No | No | 33.694 | 41.028 | 1.38K | 879,351.28 |
Institutional ownership, Q1 2022
72.5% owned by funds/institutions
13F holders | Current |
---|---|
Total holders | 430 |
Opened positions | 50 |
Closed positions | 84 |
Increased positions | 164 |
Reduced positions | 138 |
13F shares | Current |
---|---|
Total value | 4.52B |
Total shares | 96.79M |
Total puts | 293.6K |
Total calls | 416K |
Total put/call ratio | 0.7 |
Largest owners | Shares | Value |
---|---|---|
BLK Blackrock | 14.58M | $507.23M |
STT State Street | 14.51M | $510.66M |
Vanguard | 11.71M | $407.34M |
Charles Schwab Investment Management | 4.88M | $169.79M |
BK Bank Of New York Mellon | 2.48M | $86.37M |
FMR | 2.47M | $85.93M |
USB U.S. Bancorp. | 1.93M | $67.15M |
Geode Capital Management | 1.74M | $60.73M |
Dimensional Fund Advisors | 1.69M | $58.87M |
Epoch Investment Partners | 1.63M | $56.55M |
Financial report summary
?Competition
ITCRisks
- The Russian invasion of Ukraine has caused supply chain disruptions and global inflationary impacts that have had, and could continue to have, a negative effect on the demand for our products and our results of operations.
- Supply chain disruptions impacting our ability to timely receive competitively-priced raw materials and parts used in our products, or impacting our ability to timely deliver our finished products to customers, may adversely affect our manufacturing processes, financial condition, results of operations, and cash flows.
- Macro market uncertainties have had, and could further have, an adverse impact on the collection of trade and other notes receivable in accordance with their terms due to customer bankruptcy, financial difficulties, or insolvency.
- Inflation-impacted raw material and labor costs have negatively affected, and could continue to negatively affect, our profit margins and earnings.
- Technology failures or cybersecurity breaches could have a material adverse effect on our operations.
- Climate change transition risks, including change in laws and regulations, and impacts from climate change could negatively impact our business, capital expenditures, results of operations, financial condition, competitive position, and reputation.
- We are exposed to litigation contingencies that, if realized, could have a material negative impact on our financial condition, results of operations, and cash flows.
Management Discussion
- Trade Sales were $1,334 million in the current quarter, a 5% increase versus the second quarter 2021. Organic sales increased 5%. Raw material-related selling price increases of 13% were partially offset by volume declines of 6% and currency impact of 2%. Volume was down primarily from demand softness in residential end markets partially offset by growth in industrial end markets and Automotive. Acquisitions, net of divestitures, increased sales less than 1%.
- EBIT decreased 17%, to $143 million, primarily from the non-recurrence of last year's gain on the sale of real estate associated with our former Fashion Bed business, lower volume, and lower overhead absorption as production and inventory levels were adjusted to meet reduced demand primarily in the Bedding Products segment. These decreases were partially offset by metal margin expansion in our Steel Rod business and pricing discipline in the Furniture, Flooring & Textile Products segment.
- Earnings Per Share (EPS) decreased to $.70 in the current quarter, versus $.82 in the second quarter of 2021. This decline reflects lower EBIT partially offset by a lower tax rate ($.04/share).
Content analysis
?Positive | ||
Negative | ||
Uncertain | ||
Constraining | ||
Legalese | ||
Litigous | ||
Readability |
H.S. freshman Good
|
New words:
economy, flat, frequently, geopolitical, highest, instance, nonpayment, outlook, progressed, retire, single, softening, trended, yield
Removed:
accelerated, achieve, applied, attention, deleveraging, ECS, enactment, frame, led, longer, mandate, projected, protect, received, returned, sustained
Financial reports
Current reports
8-K
Leggett & Platt Reports Record 2Q Sales
1 Aug 22
8-K
Submission of Matters to a Vote of Security Holders
19 May 22
8-K
Leggett & Platt Reports Record 1Q Results
2 May 22
8-K
Entry into a Material Definitive Agreement
8 Apr 22
8-K
Leggett’s Board of Directors Elects New Board Member
10 Mar 22
8-K
Departure of Directors or Certain Officers
24 Feb 22
8-K
Leggett & Platt Reports Record Fourth Quarter and Full Year Results
7 Feb 22
8-K
Entry into a Material Definitive Agreement
19 Nov 21
8-K
Leggett & Platt Announces Executive Changes
10 Nov 21
8-K
Leggett & Platt Reports Record 3Q Sales
1 Nov 21
Registration and prospectus
S-8 POS
Registration of securities for employees (post-effective amendment)
17 Dec 21
424B2
Prospectus for primary offering
17 Nov 21
FWP
Free writing prospectus
16 Nov 21
424B5
Prospectus supplement for primary offering
16 Nov 21
S-3ASR
Automatic shelf registration
27 May 21
S-8
Registration of securities for employees
4 Mar 21
S-8 POS
Registration of securities for employees (post-effective amendment)
9 Aug 19
424B2
Prospectus for primary offering
5 Mar 19
FWP
Free writing prospectus
4 Mar 19
424B5
Prospectus supplement for primary offering
4 Mar 19
Other
SD
Conflict minerals disclosure
20 May 22
SD
Conflict minerals disclosure
7 May 21
SD
Conflict minerals disclosure
28 May 20
SD
Conflict minerals disclosure
15 May 19
SD
Conflict minerals disclosure
30 May 18
UPLOAD
Letter from SEC
11 Jun 17
CORRESP
Correspondence with SEC
4 Jun 17
SD
Conflict minerals disclosure
25 May 17
UPLOAD
Letter from SEC
23 May 17
SD
Conflict minerals disclosure
26 May 16
Ownership
4
LEGGETT & PLATT / KARL G GLASSMAN ownership change
8 Aug 22
4
LEGGETT & PLATT / TAMMY M TRENT ownership change
1 Aug 22
4
LEGGETT & PLATT / Jeffrey L. Tate ownership change
1 Aug 22
4
LEGGETT & PLATT / CHRISTINA PTASINSKI ownership change
1 Aug 22
4
LEGGETT & PLATT / SUSAN R MCCOY ownership change
1 Aug 22
4
LEGGETT & PLATT / STEVEN K HENDERSON ownership change
1 Aug 22
4
LEGGETT & PLATT / JAMES TYSON HAGALE ownership change
1 Aug 22
4
LEGGETT & PLATT / KARL G GLASSMAN ownership change
1 Aug 22
4
LEGGETT & PLATT / Scott S Douglas ownership change
1 Aug 22
4
LEGGETT & PLATT / J MITCHELL DOLLOFF ownership change
1 Aug 22
Patents
Utility
Machine For Unstacking Objects
11 Aug 22
A machine (100) for unstacking objects (10) includes a belt mechanism (110, 120, 121, 130) having a conveyor belt (110), a first drive mechanism (115) for driving the conveyor belt (110), a second drive mechanism (120, 121) for shifting the conveyor belt (110) between a forwarded position and a retracted position, and a third drive mechanism (130) for adjusting a height position of the conveyor belt (110).
Utility
Fluid Management System
4 Aug 22
A fluid management system includes a housing with a first port, a second port, and a third port, and a valve body moveable within the housing between a first position and a second position.
Utility
Fiber reinforced flexible foams
2 Aug 22
A flexible foam composition comprising a flexible foam structure comprising a plurality of struts, and a plurality of fibers, where a majority of the fibers are associated with the struts.
Utility
Machine And Method For Roll-Packing Of Mattresses
14 Jul 22
A roll-packing machine (100) is provided with a belt drive mechanism having a closed-loop belt (110).
Utility
Fluid Management System
30 Jun 22
A fluid management system includes a housing having a central manifold in fluid communication with a source of pressurized fluid, a plurality of first ports in communication with the central manifold, a plurality of second ports in communication with the environment surrounding the housing, and a plurality of third ports each configured to be coupled to a vessel for containing the pressurized fluid.
Transcripts
2022 Q2
Earnings call transcript
2 Aug 22
2022 Q1
Earnings call transcript
3 May 22
2021 Q4
Earnings call transcript
8 Feb 22
2021 Q3
Earnings call transcript
2 Nov 21
2021 Q2
Earnings call transcript
3 Aug 21
2021 Q1
Earnings call transcript
4 May 21
2020 Q4
Earnings call transcript
9 Feb 21
2020 Q3
Earnings call transcript
3 Nov 20
2020 Q3
Earnings call transcript
3 Nov 20
2020 Q3
Earnings call transcript
3 Nov 20
Reddit threads
Opinion: would you focus on growth or yield?
11 Aug 22
What stock in your portfolio doesn't get enough attention on this sub reddit?
9 Aug 22
Milestone today over the 3k/YR
2 Aug 22
Daily Discussion Thread - August 1st, 2022
1 Aug 22
Your favourite stocks in your dividend portfolio
31 Jul 22
Daily Discussion Thread - July 29th, 2022
29 Jul 22
Which stocks are on your Mount Rushmore of dividend payers?
23 Jul 22
The 5 Commandments of my div growth portfolio
20 Jul 22
Daily Discussion Thread for July 18, 2022
18 Jul 22
Daily Discussion Thread for July 08, 2022
8 Jul 22