State of New Jersey Common Pension Fund D Grows Position in Leggett & Platt, Incorporated (NYSE:LEG)

State of New Jersey Common Pension Fund D raised its holdings in Leggett & Platt, Incorporated (NYSE:LEG) by 19.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 183,333 shares of the company’s stock after purchasing an additional 29,924 shares during the period. State of New Jersey Common Pension Fund D owned 0.14% of Leggett & Platt worth $1,760,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of the business. PEAK6 Investments LLC bought a new position in Leggett & Platt in the 3rd quarter worth approximately $1,067,000. Verition Fund Management LLC boosted its holdings in shares of Leggett & Platt by 649.6% in the third quarter. Verition Fund Management LLC now owns 97,675 shares of the company’s stock worth $1,330,000 after acquiring an additional 84,645 shares during the period. FMR LLC grew its position in shares of Leggett & Platt by 3,264.5% in the third quarter. FMR LLC now owns 692,884 shares of the company’s stock valued at $9,437,000 after purchasing an additional 672,290 shares in the last quarter. JPMorgan Chase & Co. raised its stake in shares of Leggett & Platt by 38.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 581,665 shares of the company’s stock valued at $7,922,000 after purchasing an additional 160,104 shares during the period. Finally, Centiva Capital LP purchased a new stake in Leggett & Platt during the 3rd quarter worth about $654,000. Hedge funds and other institutional investors own 64.23% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the company. Truist Financial reduced their target price on Leggett & Platt from $13.00 to $11.00 and set a “hold” rating for the company in a report on Wednesday, January 29th. Piper Sandler raised shares of Leggett & Platt from an “underweight” rating to a “neutral” rating and boosted their price objective for the company from $11.00 to $13.00 in a research note on Wednesday, October 30th. Finally, The Goldman Sachs Group lowered their target price on shares of Leggett & Platt from $14.00 to $12.00 and set a “neutral” rating on the stock in a research note on Tuesday, January 14th. Four research analysts have rated the stock with a hold rating, Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $12.00.

Leggett & Platt Stock Performance

Shares of LEG opened at $9.64 on Wednesday. Leggett & Platt, Incorporated has a 12-month low of $9.18 and a 12-month high of $21.03. The company has a current ratio of 2.00, a quick ratio of 1.14 and a debt-to-equity ratio of 2.70. The company has a market cap of $1.29 billion, a PE ratio of -2.58 and a beta of 1.12. The stock has a 50-day moving average price of $10.09 and a 200-day moving average price of $11.62.

Leggett & Platt (NYSE:LEG) last announced its earnings results on Thursday, February 13th. The company reported $0.21 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.21. The business had revenue of $1.06 billion during the quarter, compared to analyst estimates of $1.03 billion. Leggett & Platt had a negative net margin of 11.67% and a positive return on equity of 17.09%. As a group, equities analysts forecast that Leggett & Platt, Incorporated will post 1.14 earnings per share for the current fiscal year.

Leggett & Platt Company Profile

Leggett & Platt, Inc engages in the manufacture and distribution of furniture and engineered components and products among homes, offices, automobiles, and commercial aircraft. It operates through the following segments: Bedding Products, Specialized Products, and Furniture, Flooring & Textile Products.