Leggett & Platt, Incorporated (NYSE:LEG) Shares Purchased by Janney Montgomery Scott LLC

Janney Montgomery Scott LLC boosted its position in Leggett & Platt, Incorporated (NYSE:LEG) by 5.3% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 87,882 shares of the company’s stock after purchasing an additional 4,442 shares during the period. Janney Montgomery Scott LLC owned approximately 0.07% of Leggett & Platt worth $1,197,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in LEG. State Board of Administration of Florida Retirement System increased its holdings in shares of Leggett & Platt by 6.6% in the first quarter. State Board of Administration of Florida Retirement System now owns 149,692 shares of the company’s stock valued at $2,867,000 after buying an additional 9,254 shares in the last quarter. Wedmont Private Capital bought a new position in shares of Leggett & Platt in the second quarter valued at $770,000. Seven Eight Capital LP bought a new position in shares of Leggett & Platt in the second quarter valued at $1,948,000. Sequoia Financial Advisors LLC bought a new position in shares of Leggett & Platt in the second quarter valued at $119,000. Finally, Maryland State Retirement & Pension System increased its holdings in shares of Leggett & Platt by 446.8% in the second quarter. Maryland State Retirement & Pension System now owns 57,193 shares of the company’s stock valued at $655,000 after buying an additional 46,733 shares in the last quarter. 64.23% of the stock is currently owned by institutional investors and hedge funds.

Leggett & Platt Trading Up 0.1 %

Leggett & Platt stock opened at $11.82 on Friday. The company’s fifty day simple moving average is $12.71 and its 200-day simple moving average is $12.37. The company has a quick ratio of 0.84, a current ratio of 1.48 and a debt-to-equity ratio of 2.13. Leggett & Platt, Incorporated has a 12 month low of $10.11 and a 12 month high of $27.58. The stock has a market cap of $1.59 billion, a P/E ratio of -1.97 and a beta of 1.07.

Leggett & Platt (NYSE:LEG) last issued its quarterly earnings data on Monday, October 28th. The company reported $0.32 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.33 by ($0.01). The business had revenue of $1.10 billion during the quarter, compared to the consensus estimate of $1.10 billion. Leggett & Platt had a positive return on equity of 14.99% and a negative net margin of 18.53%. The company’s revenue for the quarter was down 6.3% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.36 earnings per share. As a group, sell-side analysts forecast that Leggett & Platt, Incorporated will post 1.05 EPS for the current fiscal year.

Analyst Ratings Changes

Several analysts have issued reports on LEG shares. StockNews.com raised shares of Leggett & Platt from a “sell” rating to a “hold” rating in a research note on Wednesday, August 28th. Truist Financial boosted their target price on shares of Leggett & Platt from $11.00 to $13.00 and gave the company a “hold” rating in a research note on Monday, August 5th. Finally, Piper Sandler raised shares of Leggett & Platt from an “underweight” rating to a “neutral” rating and boosted their target price for the company from $11.00 to $13.00 in a research note on Wednesday, October 30th. Four analysts have rated the stock with a hold rating, According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $12.67.

About Leggett & Platt

Leggett & Platt, Incorporated designs, manufactures, and sells engineered components and products in the United States, Europe, China, Canada, Mexico, and internationally. It operates through three segments: Bedding Products; Specialized Products; and Furniture, Flooring & Textile Products. The company offers steel rods, drawn wires, specialty foam chemicals and additives, innersprings, specialty foam for use in bedding and furniture, private label finished mattresses, ready-to-assemble mattress foundations, static foundations, and adjustable beds, as well as machines for producing innersprings; industrial sewing and quilting machines; mattress-packaging; and glue-drying equipment for various industrial users of steel rod and wire, manufacturers of finished bedding, bedding brands and mattress retailers, E-commerce retailers, big box retailers, department stores, and home improvement centers.