Quest Partners LLC Increases Holdings in Leggett & Platt, Incorporated (NYSE:LEG)

Quest Partners LLC increased its stake in Leggett & Platt, Incorporated (NYSE:LEG) by 4,511,800.0% during the third quarter, Holdings Channel.com reports. The institutional investor owned 45,119 shares of the company’s stock after buying an additional 45,118 shares during the period. Quest Partners LLC’s holdings in Leggett & Platt were worth $615,000 as of its most recent filing with the SEC.

Several other institutional investors also recently added to or reduced their stakes in LEG. Abich Financial Wealth Management LLC grew its position in shares of Leggett & Platt by 93.2% during the 1st quarter. Abich Financial Wealth Management LLC now owns 1,930 shares of the company’s stock valued at $37,000 after acquiring an additional 931 shares during the period. Allspring Global Investments Holdings LLC grew its holdings in Leggett & Platt by 76.3% during the third quarter. Allspring Global Investments Holdings LLC now owns 2,043 shares of the company’s stock valued at $28,000 after purchasing an additional 884 shares during the period. nVerses Capital LLC purchased a new stake in Leggett & Platt in the third quarter worth $41,000. CVA Family Office LLC bought a new stake in shares of Leggett & Platt in the second quarter valued at $36,000. Finally, Fifth Third Bancorp lifted its position in shares of Leggett & Platt by 367.8% during 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 during the last quarter. Institutional investors own 64.23% of the company’s stock.

Analyst Ratings Changes

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

Leggett & Platt Stock Performance

NYSE:LEG opened at $11.66 on Friday. Leggett & Platt, Incorporated has a 52-week low of $10.11 and a 52-week high of $27.58. The business’s fifty day moving average is $12.69 and its 200 day moving average is $12.28. 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 $1.57 billion, a price-to-earnings ratio of -1.95 and a beta of 1.07.

Leggett & Platt (NYSE:LEG) last released its quarterly 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 firm had revenue of $1.10 billion during the quarter, compared to the consensus estimate of $1.10 billion. During the same period in the previous year, the company posted $0.36 EPS. The company’s revenue for the quarter was down 6.3% compared to the same quarter last year. Research analysts predict 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.