Intech Investment Management LLC Takes Position in Leggett & Platt, Incorporated (NYSE:LEG)

Intech Investment Management LLC acquired a new stake in shares of Leggett & Platt, Incorporated (NYSE:LEG) in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 22,207 shares of the company’s stock, valued at approximately $302,000.

Several other institutional investors also recently made changes to their positions in the stock. Moors & Cabot Inc. purchased a new stake in shares of Leggett & Platt during the 3rd quarter valued at $210,000. Quest Partners LLC grew its stake in shares of Leggett & Platt by 4,511,800.0% during the 3rd quarter. Quest Partners LLC now owns 45,119 shares of the company’s stock valued at $615,000 after buying an additional 45,118 shares during the period. Aigen Investment Management LP purchased a new stake in Leggett & Platt during the 3rd quarter worth $284,000. GSA Capital Partners LLP acquired a new stake in Leggett & Platt in the 3rd quarter valued at $456,000. Finally, State of New Jersey Common Pension Fund D purchased a new position in Leggett & Platt in the third quarter valued at about $2,089,000. 64.23% of the stock is owned by hedge funds and other institutional investors.

Leggett & Platt Trading Down 2.1 %

LEG opened at $12.25 on Thursday. The firm has a market capitalization of $1.64 billion, a P/E ratio of -2.04 and a beta of 1.07. The firm’s 50 day moving average is $12.58 and its 200-day moving average is $12.26. Leggett & Platt, Incorporated has a 52-week low of $10.11 and a 52-week high of $27.58. 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 (NYSE:LEG) last posted 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 firm had revenue of $1.10 billion for the quarter, compared to analysts’ expectations of $1.10 billion. Leggett & Platt had a negative net margin of 18.53% and a positive return on equity of 14.99%. 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 business earned $0.36 EPS. Analysts expect that Leggett & Platt, Incorporated will post 1.05 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the company. Piper Sandler upgraded Leggett & Platt from an “underweight” rating to a “neutral” rating and increased their target price for the company from $11.00 to $13.00 in a research note on Wednesday, October 30th. StockNews.com upgraded shares of Leggett & Platt from a “sell” rating to a “hold” rating in a research note on Wednesday, August 28th. Four research analysts have rated the stock with a hold rating, According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price 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.