Leggett & Platt, Incorporated (NYSE:LEG) Shares Sold by Commerce Bank

Commerce Bank trimmed its position in shares of Leggett & Platt, Incorporated (NYSE:LEG) by 28.0% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 14,493 shares of the company’s stock after selling 5,632 shares during the period. Commerce Bank’s holdings in Leggett & Platt were worth $197,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of LEG. Allspring Global Investments Holdings LLC boosted its stake in Leggett & Platt by 76.3% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 2,043 shares of the company’s stock valued at $28,000 after purchasing an additional 884 shares during the period. CVA Family Office LLC acquired a new position in Leggett & Platt during the 2nd quarter valued at about $36,000. Abich Financial Wealth Management LLC boosted its stake in Leggett & Platt by 93.2% during the 1st quarter. Abich Financial Wealth Management LLC now owns 1,930 shares of the company’s stock valued at $37,000 after purchasing an additional 931 shares during the period. Fifth Third Bancorp boosted its stake in Leggett & Platt by 367.8% during the 2nd quarter. Fifth Third Bancorp now owns 3,396 shares of the company’s stock valued at $39,000 after purchasing an additional 2,670 shares during the period. Finally, nVerses Capital LLC acquired a new position in Leggett & Platt during the 3rd quarter valued at about $41,000. 64.23% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the stock. StockNews.com raised shares of Leggett & Platt from a “sell” rating to a “hold” rating in a research note on Wednesday, August 28th. Truist Financial boosted their price target 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. Finally, Piper Sandler upgraded shares of Leggett & Platt from an “underweight” rating to a “neutral” rating and boosted their price target for the stock from $11.00 to $13.00 in a research report on Wednesday, October 30th. Four equities research analysts have rated the stock with a hold rating, According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $12.67.

Leggett & Platt Stock Up 0.7 %

LEG stock opened at $12.58 on Thursday. Leggett & Platt, Incorporated has a 52-week low of $10.11 and a 52-week high of $27.58. The company’s 50 day simple moving average is $12.67 and its 200-day simple moving average is $12.25. The company has a debt-to-equity ratio of 2.13, a current ratio of 1.48 and a quick ratio of 0.84. The firm has a market capitalization of $1.69 billion, a P/E ratio of -2.08 and a beta of 1.07.

Leggett & Platt (NYSE:LEG) last announced its quarterly earnings data on Monday, October 28th. The company reported $0.32 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 business’s revenue for the quarter was down 6.3% on a year-over-year basis. As a group, equities research analysts anticipate that Leggett & Platt, Incorporated will post 1.05 EPS for the current 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.