Leggett & Platt, Incorporated (NYSE:LEG) Position Boosted by Cerity Partners LLC

Cerity Partners LLC raised its holdings in shares of Leggett & Platt, Incorporated (NYSE:LEG) by 158.2% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 83,402 shares of the company’s stock after acquiring an additional 51,106 shares during the quarter. Cerity Partners LLC owned approximately 0.06% of Leggett & Platt worth $1,136,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. Allspring Global Investments Holdings LLC grew its stake in shares of Leggett & Platt by 76.3% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 2,043 shares of the company’s stock valued at $28,000 after buying an additional 884 shares in the last quarter. Fifth Third Bancorp grew its stake in shares of Leggett & Platt by 367.8% in 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. nVerses Capital LLC bought a new stake in shares of Leggett & Platt in the 3rd quarter valued at approximately $41,000. EverSource Wealth Advisors LLC grew its stake in shares of Leggett & Platt by 343.8% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 4,371 shares of the company’s stock valued at $50,000 after buying an additional 3,386 shares in the last quarter. Finally, Innealta Capital LLC bought a new stake in shares of Leggett & Platt in the 2nd quarter valued at approximately $53,000. Hedge funds and other institutional investors own 64.23% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on LEG shares. Piper Sandler raised Leggett & Platt from an “underweight” rating to a “neutral” rating and boosted their price target for the company from $11.00 to $13.00 in a research note on Wednesday, October 30th. StockNews.com upgraded Leggett & Platt from a “sell” rating to a “hold” rating in a report on Wednesday, August 28th. Four equities research analysts have rated the stock with a hold rating, Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $12.67.

Leggett & Platt Stock Down 2.1 %

LEG opened at $12.25 on Thursday. The business has a 50 day moving average price of $12.58 and a 200 day moving average price of $12.26. Leggett & Platt, Incorporated has a twelve month low of $10.11 and a twelve month high of $27.58. 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 firm has a market cap of $1.64 billion, a P/E ratio of -2.04 and a beta of 1.07.

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

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.