Thrivent Financial for Lutherans Reduces Stock Holdings in Leggett & Platt, Incorporated (NYSE:LEG)

Thrivent Financial for Lutherans trimmed its position in shares of Leggett & Platt, Incorporated (NYSE:LEG) by 3.9% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 146,558 shares of the company’s stock after selling 5,911 shares during the period. Thrivent Financial for Lutherans owned 0.11% of Leggett & Platt worth $1,996,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently made changes to their positions in LEG. Allspring Global Investments Holdings LLC increased its holdings in Leggett & Platt by 76.3% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 2,043 shares of the company’s stock worth $28,000 after acquiring an additional 884 shares during the last quarter. CVA Family Office LLC purchased a new position in shares of Leggett & Platt in the second quarter worth about $36,000. Abich Financial Wealth Management LLC raised its position in shares of Leggett & Platt by 93.2% in the first quarter. Abich Financial Wealth Management LLC now owns 1,930 shares of the company’s stock valued at $37,000 after purchasing an additional 931 shares during the period. Fifth Third Bancorp lifted its stake in shares of Leggett & Platt by 367.8% during the 2nd quarter. Fifth Third Bancorp now owns 3,396 shares of the company’s stock valued at $39,000 after buying an additional 2,670 shares in the last quarter. Finally, nVerses Capital LLC bought a new position in Leggett & Platt in the 3rd quarter worth approximately $41,000. 64.23% of the stock is currently owned by institutional investors.

Leggett & Platt Trading Up 0.7 %

Shares of LEG stock opened at $12.58 on Friday. Leggett & Platt, Incorporated has a 52-week low of $10.11 and a 52-week high of $27.58. The business’s fifty day moving average is $12.66 and its 200 day moving average is $12.25. The company has a debt-to-equity ratio of 2.13, a quick ratio of 0.84 and a current ratio of 1.48. The company has a market capitalization of $1.69 billion, a PE ratio of -2.09 and a beta of 1.07.

Leggett & Platt (NYSE:LEG) last issued its quarterly earnings results 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 for the quarter, compared to the consensus estimate of $1.10 billion. Leggett & Platt had a negative net margin of 18.53% and a positive return on equity of 14.99%. The business’s revenue was down 6.3% compared to the same quarter last year. During the same quarter last year, the business posted $0.36 EPS. On average, equities research analysts anticipate that Leggett & Platt, Incorporated will post 1.05 EPS for the current fiscal year.

Analyst Ratings Changes

LEG has been the topic of several recent research reports. StockNews.com upgraded Leggett & Platt from a “sell” rating to a “hold” rating in a research report on Wednesday, August 28th. Truist Financial increased their price objective on Leggett & Platt from $11.00 to $13.00 and gave the stock a “hold” rating in a report on Monday, August 5th. Finally, Piper Sandler raised Leggett & Platt from an “underweight” rating to a “neutral” rating and lifted their target price for the company from $11.00 to $13.00 in a report on Wednesday, October 30th. Four analysts have rated the stock with a hold rating, Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $12.67.

Leggett & Platt Profile

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.