Leggett & Platt, Incorporated (NYSE:LEG) Shares Sold by Readystate Asset Management LP

Readystate Asset Management LP reduced its position in Leggett & Platt, Incorporated (NYSE:LEG) by 19.7% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 54,299 shares of the company’s stock after selling 13,295 shares during the quarter. Readystate Asset Management LP’s holdings in Leggett & Platt were worth $740,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also made changes to their positions in the company. Pacer Advisors Inc. raised its position in shares of Leggett & Platt by 426.2% in the 2nd quarter. Pacer Advisors Inc. now owns 14,042,134 shares of the company’s stock worth $160,923,000 after buying an additional 11,373,507 shares during the period. AQR Capital Management LLC raised its position in Leggett & Platt by 1,098.0% in the second quarter. AQR Capital Management LLC now owns 2,005,408 shares of the company’s stock valued at $22,160,000 after purchasing an additional 1,838,009 shares during the period. Invenomic Capital Management LP raised its position in Leggett & Platt by 384.1% in the third quarter. Invenomic Capital Management LP now owns 921,472 shares of the company’s stock valued at $12,550,000 after purchasing an additional 731,132 shares during the period. FMR LLC raised its position in Leggett & Platt by 3,264.5% in the third quarter. FMR LLC now owns 692,884 shares of the company’s stock valued at $9,437,000 after purchasing an additional 672,290 shares during the period. Finally, Principal Financial Group Inc. raised its position in Leggett & Platt by 31.0% in the second quarter. Principal Financial Group Inc. now owns 658,117 shares of the company’s stock valued at $7,542,000 after purchasing an additional 155,860 shares during the period. 64.23% of the stock is owned by hedge funds and other institutional investors.

Leggett & Platt Stock Down 3.5 %

NYSE:LEG opened at $11.81 on Friday. The company has a market capitalization of $1.59 billion, a price-to-earnings ratio of -1.97 and a beta of 1.07. Leggett & Platt, Incorporated has a one year low of $10.11 and a one year high of $27.58. The stock has a 50-day simple moving average of $12.54 and a 200 day simple moving average of $12.26. 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 (NYSE:LEG) last posted its quarterly earnings results 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 during the quarter, compared to analyst estimates of $1.10 billion. Leggett & Platt had a positive return on equity of 14.99% and a negative net margin of 18.53%. The firm’s revenue for the quarter was down 6.3% on a year-over-year basis. During the same quarter last year, the business posted $0.36 earnings per share. Sell-side analysts predict that Leggett & Platt, Incorporated will post 1.05 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

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

Leggett & Platt Company 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.