Public Sector Pension Investment Board Decreases Holdings in Leggett & Platt, Incorporated (NYSE:LEG)

Public Sector Pension Investment Board reduced its position in Leggett & Platt, Incorporated (NYSE:LEG) by 3.5% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 284,611 shares of the company’s stock after selling 10,300 shares during the quarter. Public Sector Pension Investment Board’s holdings in Leggett & Platt were worth $3,876,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in the business. Allspring Global Investments Holdings LLC boosted its position in shares of Leggett & Platt by 76.3% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 2,043 shares of the company’s stock worth $28,000 after purchasing an additional 884 shares in the last quarter. CVA Family Office LLC purchased a new stake in Leggett & Platt in the second quarter valued at about $36,000. Fifth Third Bancorp boosted its holdings in Leggett & Platt by 367.8% in the second quarter. Fifth Third Bancorp now owns 3,396 shares of the company’s stock worth $39,000 after acquiring an additional 2,670 shares in the last quarter. nVerses Capital LLC purchased a new stake in shares of Leggett & Platt during the third quarter worth about $41,000. Finally, Brooklyn Investment Group acquired a new position in shares of Leggett & Platt during the third quarter valued at about $44,000. 64.23% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts recently commented on LEG shares. 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. StockNews.com raised shares of Leggett & Platt from a “sell” rating to a “hold” rating in a report on Wednesday, August 28th. Finally, Piper Sandler upgraded 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 data from MarketBeat.com, Leggett & Platt currently has an average rating of “Hold” and an average price target of $12.67.

Leggett & Platt Stock Performance

LEG opened at $12.75 on Tuesday. The company has a current ratio of 1.48, a quick ratio of 0.84 and a debt-to-equity ratio of 2.13. Leggett & Platt, Incorporated has a 12-month low of $10.11 and a 12-month high of $27.58. The firm has a 50 day moving average of $12.62 and a two-hundred day moving average of $12.26. The firm has a market capitalization of $1.71 billion, a PE ratio of -2.12 and a beta of 1.07.

Leggett & Platt (NYSE:LEG) last issued its earnings results on Monday, October 28th. The company reported $0.32 earnings per share (EPS) 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 business had revenue of $1.10 billion for the quarter, compared to analysts’ expectations of $1.10 billion. During the same period last year, the business earned $0.36 EPS. The company’s revenue for the quarter was down 6.3% on a year-over-year basis. On average, 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.