Healthcare of Ontario Pension Plan Trust Fund Purchases New Holdings in Leggett & Platt, Incorporated (NYSE:LEG)

Healthcare of Ontario Pension Plan Trust Fund acquired a new position in shares of Leggett & Platt, Incorporated (NYSE:LEG) in the 3rd quarter, according to its most recent filing with the SEC. The fund acquired 144,497 shares of the company’s stock, valued at approximately $1,968,000. Healthcare of Ontario Pension Plan Trust Fund owned approximately 0.11% of Leggett & Platt at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Allspring Global Investments Holdings LLC boosted its position 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 worth $28,000 after acquiring an additional 884 shares during the last quarter. CVA Family Office LLC purchased a new position in Leggett & Platt in the 2nd quarter worth approximately $36,000. Fifth Third Bancorp boosted its holdings 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 worth $39,000 after purchasing an additional 2,670 shares during the last quarter. nVerses Capital LLC purchased a new stake in shares of Leggett & Platt in the third quarter valued at approximately $41,000. Finally, Brooklyn Investment Group acquired a new stake in shares of Leggett & Platt in the third quarter valued at approximately $44,000. Institutional investors and hedge funds own 64.23% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on LEG. StockNews.com raised Leggett & Platt from a “sell” rating to a “hold” rating in a research note on Wednesday, August 28th. Piper Sandler raised shares of Leggett & Platt from an “underweight” rating to a “neutral” rating and boosted their price target for the company from $11.00 to $13.00 in a research report on Wednesday, October 30th. Finally, 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. Four investment analysts have rated the stock with a hold rating, Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $12.67.

Leggett & Platt Stock Up 0.1 %

Shares of NYSE:LEG opened at $12.59 on Monday. The company has a current ratio of 1.48, a quick ratio of 0.84 and a debt-to-equity ratio of 2.13. The company has a market capitalization of $1.69 billion, a price-to-earnings ratio of -2.09 and a beta of 1.07. The business has a 50-day moving average price of $12.62 and a 200 day moving average price of $12.26. Leggett & Platt, Incorporated has a 12-month low of $10.11 and a 12-month high of $27.58.

Leggett & Platt (NYSE:LEG) last released its quarterly earnings results on Monday, October 28th. The company reported $0.32 EPS for the quarter, missing the consensus estimate 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 positive return on equity of 14.99% and a negative net margin of 18.53%. The company’s quarterly revenue was down 6.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.36 earnings per share. Sell-side analysts expect 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.