Brooklyn Investment Group Takes $44,000 Position in Leggett & Platt, Incorporated (NYSE:LEG)

Brooklyn Investment Group purchased a new stake in shares of Leggett & Platt, Incorporated (NYSE:LEG) during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 3,245 shares of the company’s stock, valued at approximately $44,000.

Other hedge funds also recently made changes to their positions in the company. Wedmont Private Capital bought a new stake in shares of Leggett & Platt during the second quarter valued at approximately $770,000. Seven Eight Capital LP bought a new stake in shares of Leggett & Platt during the second quarter valued at approximately $1,948,000. Sequoia Financial Advisors LLC bought a new stake in shares of Leggett & Platt during the second quarter valued at approximately $119,000. Maryland State Retirement & Pension System boosted its position in shares of Leggett & Platt by 446.8% during the second quarter. Maryland State Retirement & Pension System now owns 57,193 shares of the company’s stock valued at $655,000 after purchasing an additional 46,733 shares in the last quarter. Finally, Prevail Innovative Wealth Advisors LLC bought a new stake in shares of Leggett & Platt during the second quarter valued at approximately $1,322,000. 64.23% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts recently weighed in on LEG shares. Truist Financial lifted their price target on Leggett & Platt from $11.00 to $13.00 and gave the company a “hold” rating in a research report on Monday, August 5th. StockNews.com upgraded Leggett & Platt from a “sell” rating to a “hold” rating in a research note on Wednesday, August 28th. Finally, Piper Sandler upgraded Leggett & Platt from an “underweight” rating to a “neutral” rating and boosted their price target for the stock from $11.00 to $13.00 in a research note on Wednesday, October 30th. Four equities research analysts have rated the stock with a hold rating, According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $12.67.

Leggett & Platt Stock Up 0.0 %

Leggett & Platt stock opened at $12.59 on Friday. The stock has a market cap of $1.69 billion, a PE ratio of -2.09 and a beta of 1.07. The company has a debt-to-equity ratio of 2.13, a quick ratio of 0.84 and a current ratio of 1.48. Leggett & Platt, Incorporated has a one year low of $10.11 and a one year high of $27.58. The stock has a fifty day moving average of $12.64 and a 200 day moving average of $12.26.

Leggett & Platt (NYSE:LEG) last posted its quarterly earnings data on Monday, October 28th. The company reported $0.32 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 firm’s revenue was down 6.3% compared to the same quarter last year. During the same quarter last year, the company posted $0.36 EPS. As a group, sell-side analysts predict 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.