Thrivent Financial for Lutherans Decreases Holdings in Leggett & Platt, Incorporated (NYSE:LEG)

Thrivent Financial for Lutherans trimmed its position in shares of Leggett & Platt, Incorporated (NYSE:LEG) by 3.9% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 146,558 shares of the company’s stock after selling 5,911 shares during the quarter. Thrivent Financial for Lutherans’ holdings in Leggett & Platt were worth $1,996,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of LEG. Aigen Investment Management LP bought a new stake in shares of Leggett & Platt in the 3rd quarter worth approximately $284,000. GSA Capital Partners LLP bought a new stake in shares of Leggett & Platt in the 3rd quarter worth approximately $456,000. State of New Jersey Common Pension Fund D bought a new stake in shares of Leggett & Platt in the 3rd quarter worth approximately $2,089,000. Janney Montgomery Scott LLC grew its stake in shares of Leggett & Platt by 5.3% during the third quarter. Janney Montgomery Scott LLC now owns 87,882 shares of the company’s stock valued at $1,197,000 after buying an additional 4,442 shares during the last quarter. Finally, First Trust Direct Indexing L.P. bought a new stake in shares of Leggett & Platt in the 3rd quarter valued at about $273,000. Hedge funds and other institutional investors own 64.23% of the company’s stock.

Leggett & Platt Price Performance

LEG opened at $12.58 on Friday. 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 stock has a market capitalization of $1.69 billion, a PE ratio of -2.09 and a beta of 1.07. The stock’s 50 day moving average price is $12.66 and its 200-day moving average price is $12.25. Leggett & Platt, Incorporated has a 52-week low of $10.11 and a 52-week high of $27.58.

Leggett & Platt (NYSE:LEG) last issued its quarterly earnings data 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 for the quarter, compared to analysts’ expectations of $1.10 billion. During the same period in the previous 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. On average, equities research analysts predict that Leggett & Platt, Incorporated will post 1.05 EPS for the current year.

Analysts Set New Price Targets

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

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.