Amalgamated Bank Decreases Holdings in Leggett & Platt by 21.4% in Q1
August 1, 2023
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The company is listed on the New York Stock Exchange under the ticker symbol LEG. As reported in their most recent 13F filing, Amalgamated Bank has decreased its holdings of Leggett & Platt ($NYSE:LEG) stock by 21.4% in the first quarter. This sizable reduction in holdings suggests that investors have become more bearish on the stock and are expecting lower returns in the near-term. The decrease could be a sign of concern over the company’s future prospects and how it may fare in an uncertain economic environment.
The decline in Amalgamated Bank’s holdings of Leggett & Platt’s stock is not the only sign that sentiment may be turning bearish on the stock. The decreased holdings in Leggett & Platt’s stock by Amalgamated Bank and other investors are likely a sign of concern over the company’s long-term prospects and how it may fare in an uncertain economic environment. Investors will likely be monitoring the company closely to see if sentiment changes and whether or not there are indications of a turn-around for the company.
Analysis
At GoodWhale, we have conducted an analysis of LEGGETT & PLATT’s fundamentals. According to our Star Chart, LEGGETT & PLATT is classified as a ‘cow’, which indicates a track record of paying out consistent and sustainable dividends. This type of company is likely to appeal to a variety of investors, from those looking for steady income to those seeking a safe long-term investment. We also rate the company’s health at 9/10, which is a testament to its ability to sustain operations even in times of financial crisis. When breaking down the fundamentals, we find that LEGGETT & PLATT scores highest in dividend and profitability, medium in asset allocation, and weakest in growth. Nevertheless, with such a strong rating in overall health, this stock is likely to remain a reliable investment for those seeking consistent returns. More…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for LEG. More…
| Total Revenues | Net Income | Net Margin |
| 5.04k | 272.9 | 5.5% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for LEG. More…
| Operations | Investing | Financing |
| 499.1 | -202.1 | -264.1 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for LEG. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 5.27k | 3.6k | 12.33 |
Key Ratios Snapshot
Some of the financial key ratios for LEG are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 2.8% | -5.3% | 8.7% |
| FCF Margin | ROE | ROA |
| 7.5% | 16.7% | 5.2% |
Peers
The company operates in 19 countries and sells its products to customers in more than 130 countries. Leggett & Platt is a publicly traded company with annual sales of more than $4 billion. The company has more than 30,000 employees. Leggett & Platt’s primary competitors are John Lewis of Hungerford PLC, Savimex Corp, and Fabryki Mebli Forte SA. Leggett & Platt has a competitive advantage over its competitors because of its size, diversification, and global reach. The company is also well-positioned to benefit from trends such as the increasing popularity of adjustable beds and the growing demand for automotive seating products.
– John Lewis of Hungerford PLC ($LSE:JLH)
Lewis of Hungerford PLC is a company that manufactures and sells kitchen furnishings. As of 2022, it has a market capitalization of 2.61 million GBP and a return on equity of 35.66%. The company was founded in 1876 and is headquartered in Hungerford, United Kingdom.
– Savimex Corp ($HOSE:SAV)
Fabryki Mebli Forte SA is a Polish furniture manufacturer that produces a wide variety of furniture for both home and office settings. The company has a market capitalization of 445.11M as of 2022 and a return on equity of 10.25%. Founded in 1992, Fabryki Mebli Forte SA has grown to become one of the leading furniture manufacturers in Poland. The company offers a wide range of furniture products including bedroom sets, living room sets, office furniture, and more. Fabryki Mebli Forte SA is dedicated to providing high-quality furniture at affordable prices.
Summary
Investors interested in Leggett & Platt, Incorporated may want to take note of a recent change in ownership. This is an important factor for potential investors and may be indicative of a shift in sentiment. It is important to conduct careful research and analysis when considering the investment potential of this stock. Analyzing the company’s financial performance, competitive landscape, and industry trends can help investors determine whether it is a good fit for their portfolio.
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