5 Best Furniture Stocks to Buy Now

3. Leggett & Platt, Incorporated (NYSE: LEG)

Number of Hedge Fund Holders: 24

Leggett & Platt, Incorporated (NYSE: LEG) is a Missouri-based furnishings and fixtures manufacturer and it ranks 3rd on the list of 10 best furniture stocks to buy now. Leggett & Platt, Incorporated (NYSE: LEG) markets beddings and textile products. The company also sells motion hardware mechanisms for recliners and lift chairs.

In June, Leggett & Platt, Incorporated (NYSE: LEG) raised its quarterly dividend by 5%, announcing a $0.42 per share dividend. On May 5, Raymond James analysts maintained an Overweight rating on Leggett & Platt, Incorporated (NYSE: LEG) and increased the firm’s price target to $60 per share. The stock has gained 8%, year to date.

The company has a market cap of $6.35 billion. In the second quarter of 2021, Leggett & Platt, Incorporated (NYSE: LEG) reported an adjusted EPS of $0.66, beating estimates by $0.12. The company’s revenue in the second quarter grew 50% year over year to $1.27 billion, beating revenue estimates by $41.9 million. Shares of Leggett & Platt, Incorporated (NYSE: LEG) increased 22% in the last twelve months.

By the end of the first quarter of 2021, 24 hedge funds followed by Insider Monkey held stakes in Leggett & Platt, Incorporated (NYSE: LEG) with a total value of $83.2 million.