Leggett & Platt, Incorporated (NYSE:LEG) is V2 Financial group LLC’s 8th Largest Position

V2 Financial group LLC trimmed its position in Leggett & Platt, Incorporated (NYSE:LEG) by 2.9% during the third quarter, Holdings Channel.com reports. The firm owned 242,186 shares of the company’s stock after selling 7,137 shares during the period. Leggett & Platt accounts for about 2.1% of V2 Financial group LLC’s holdings, making the stock its 8th largest holding. V2 Financial group LLC’s holdings in Leggett & Platt were worth $3,299,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of LEG. GSA Capital Partners LLP acquired a new stake in Leggett & Platt during the third quarter worth approximately $456,000. State of New Jersey Common Pension Fund D acquired a new stake in shares of Leggett & Platt during the third quarter worth $2,089,000. Janney Montgomery Scott LLC grew its position in shares of Leggett & Platt by 5.3% in the third quarter. Janney Montgomery Scott LLC now owns 87,882 shares of the company’s stock valued at $1,197,000 after purchasing an additional 4,442 shares during the period. First Trust Direct Indexing L.P. acquired a new position in Leggett & Platt in the third quarter valued at $273,000. Finally, Wealth Enhancement Advisory Services LLC lifted its position in Leggett & Platt by 148.4% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 39,227 shares of the company’s stock worth $534,000 after buying an additional 23,438 shares during the period. 64.23% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the stock. Truist Financial upped their price objective on shares of Leggett & Platt from $11.00 to $13.00 and gave the company 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 research note on Wednesday, August 28th. Finally, Piper Sandler raised shares of Leggett & Platt from an “underweight” rating to a “neutral” rating and boosted their price objective for the company from $11.00 to $13.00 in a research note on Wednesday, October 30th. Four research analysts have rated the stock with a hold rating, According to MarketBeat.com, Leggett & Platt currently has an average rating of “Hold” and an average price target of $12.67.

Leggett & Platt Stock Down 0.5 %

Shares of Leggett & Platt stock opened at $12.07 on Tuesday. Leggett & Platt, Incorporated has a twelve month low of $10.11 and a twelve month high of $27.58. The stock has a market cap of $1.62 billion, a price-to-earnings ratio of -2.01 and a beta of 1.07. 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 fifty day moving average price of $12.71 and a 200 day moving average price of $12.46.

Leggett & Platt (NYSE:LEG) last posted its earnings results 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). The company had revenue of $1.10 billion during the quarter, compared to analyst estimates of $1.10 billion. Leggett & Platt had a negative net margin of 18.53% and a positive return on equity of 14.99%. Leggett & Platt’s quarterly revenue was down 6.3% compared to the same quarter last year. During the same quarter last year, the business posted $0.36 EPS. Equities research analysts forecast that Leggett & Platt, Incorporated will post 1.04 earnings per share for the current fiscal year.

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.