Leggett & Platt, Incorporated (LEG)

In the past six months, Leggett & Platt's stock has been impacted by several events. In October 2025, the company reported a decrease in sales and a slight decrease in adjusted EPS for Q3 2025, but increased its operating cash flow and reduced its debt. The outlook for 2025 sales remains muted. Earlier in the six-month period, Leggett & Platt reported a first-quarter loss due to sales declines across its business segments. In April 2024, Leggett & Platt cut its dividend, ending a 52-year streak of dividend growth.

Leggett & Platt generally experiences some seasonality in its consolidated sales, earnings, and operating cash flows, with higher sales and earnings typically in the second and third quarters, driven by its residential bedding and furniture businesses, as well as its geo components businesses. Demand for home furnishings and furniture can also see seasonal spikes ahead of the holiday season, influenced by the housing market. The company has faced challenges with declining residential end market demand in recent years, while industrial end market demand has shown improvement in 2024. Demand for automotive seating is influenced by the rising demand for luxury and high-end vehicles and advancements in seating technologies. Demand for hydraulic cylinders is also rising, particularly in the construction industry.

Leggett & Platt, Inc. is a diversified American manufacturer that designs, produces, and sells engineered components and products for homes, offices, and automobiles, operating within the Consumer Discretionary sector. The company's business is organized into three primary segments: Bedding Products, Specialized Products, and Furniture, Flooring, and Textile Products. Bedding Products include innersprings, specialty foam chemicals, mattresses, pillows, adjustable beds, and machinery. Specialized Products include lumbar support systems, seat suspension systems, motors, cables, tubing, and hydraulic cylinders. Furniture, Flooring, and Textile Products include steel mechanisms, springs, seat suspensions, components for soft seating, office chair components, carpet cushion, flooring underlayment, structural fabrics, and geo components.

Leggett & Platt has a significant global presence, operating over 120 facilities across 18 countries, including the United States, Canada, Mexico, and Australia. In Europe, the company has facilities and sales offices in several countries. In Asia, Leggett & Platt operates in China, India, Japan, South Korea, and Turkey. The company's international headquarters are located in Carthage, Missouri, USA.

In July 2024, Leggett & Platt agreed to pay over $400,000 to resolve allegations from the U.S. Department of Labor regarding hiring bias, which claimed the company favored Asian job seekers for production associate positions, to the detriment of Black, white, and Hispanic applicants, between November 2018 and November 2020.

Leggett & Platt's stock is primarily held by institutional investors, who own approximately 83.80% of the company's shares. Insiders hold about 11.53%, and retail investors account for 4.67%. Major institutional shareholders include BlackRock Inc., Vanguard Group Inc., and State Street Corp. Harry M. Cornell Jr. is the largest individual shareholder, owning 3.58% of the company's shares.