Mutual of America Capital Management LLC Reduces Position in Leggett & Platt, Incorporated (NYSE:LEG)

Mutual of America Capital Management LLC reduced its stake in shares of Leggett & Platt, Incorporated (NYSE:LEG) by 8.4% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 20,179 shares of the company’s stock after selling 1,851 shares during the quarter. Mutual of America Capital Management LLC’s holdings in Leggett & Platt were worth $275,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the stock. Pacer Advisors Inc. increased its holdings in Leggett & Platt by 426.2% during the second quarter. Pacer Advisors Inc. now owns 14,042,134 shares of the company’s stock valued at $160,923,000 after buying an additional 11,373,507 shares during the period. AQR Capital Management LLC raised its stake in Leggett & Platt by 1,098.0% in the 2nd quarter. AQR Capital Management LLC now owns 2,005,408 shares of the company’s stock worth $22,160,000 after acquiring an additional 1,838,009 shares during the last quarter. Public Sector Pension Investment Board acquired a new stake in shares of Leggett & Platt during the second quarter worth about $3,380,000. Quantbot Technologies LP boosted its holdings in shares of Leggett & Platt by 1,109.0% in the 2nd quarter. Quantbot Technologies LP now owns 238,515 shares of the company’s stock valued at $2,733,000 after acquiring an additional 218,786 shares during the last quarter. Finally, Seven Eight Capital LP acquired a new stake in shares of Leggett & Platt in the second quarter worth $1,948,000. 64.23% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on LEG. 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 raised their price objective on shares of Leggett & Platt from $11.00 to $13.00 and gave the stock a “hold” rating in a research report on Monday, August 5th. Finally, Piper Sandler raised Leggett & Platt from an “underweight” rating to a “neutral” rating and raised their target price for the stock 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 price target of $12.67.

Leggett & Platt Stock Up 0.7 %

NYSE:LEG opened at $12.58 on Friday. The stock’s fifty day moving average is $12.66 and its two-hundred day moving average is $12.25. Leggett & Platt, Incorporated has a 52 week low of $10.11 and a 52 week high of $27.58. The stock has a market capitalization of $1.69 billion, a price-to-earnings ratio of -2.09 and a beta of 1.07. 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 released its 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). Leggett & Platt had a negative net margin of 18.53% and a positive return on equity of 14.99%. The company had revenue of $1.10 billion during the quarter, compared to analysts’ expectations of $1.10 billion. During the same quarter last year, the business posted $0.36 earnings per share. The company’s revenue for the quarter was down 6.3% on a year-over-year basis. Research analysts anticipate that Leggett & Platt, Incorporated will post 1.05 EPS for the current year.

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.