PNC Financial Services Group Inc. Has $934,000 Stake in Leggett & Platt, Incorporated (NYSE:LEG)

PNC Financial Services Group Inc. decreased its stake in shares of Leggett & Platt, Incorporated (NYSE:LEG) by 26.1% during the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 68,555 shares of the company’s stock after selling 24,241 shares during the quarter. PNC Financial Services Group Inc. owned 0.05% of Leggett & Platt worth $934,000 as of its most recent filing with the SEC.

A number of other large investors have also made changes to their positions in LEG. Price T Rowe Associates Inc. MD lifted its position in Leggett & Platt by 26.0% in the first quarter. Price T Rowe Associates Inc. MD now owns 72,502 shares of the company’s stock worth $1,389,000 after purchasing an additional 14,971 shares during the period. Tidal Investments LLC boosted its position in shares of Leggett & Platt by 19.2% during the 1st quarter. Tidal Investments LLC now owns 27,085 shares of the company’s stock valued at $519,000 after acquiring an additional 4,364 shares in the last quarter. Comerica Bank increased its stake in Leggett & Platt by 2.4% in the first quarter. Comerica Bank now owns 68,968 shares of the company’s stock valued at $1,321,000 after acquiring an additional 1,633 shares during the period. Virtu Financial LLC acquired a new position in Leggett & Platt in the first quarter worth about $231,000. Finally, Cetera Advisors LLC bought a new position in Leggett & Platt during the first quarter worth about $418,000. Institutional investors and hedge funds own 64.23% of the company’s stock.

Analyst Upgrades and Downgrades

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

Leggett & Platt Stock Up 0.7 %

NYSE LEG opened at $12.58 on Friday. The stock’s 50 day simple moving average is $12.66 and its 200 day simple moving average is $12.25. Leggett & Platt, Incorporated has a one year low of $10.11 and a one year high of $27.58. The firm has a market cap of $1.69 billion, a PE ratio of -2.09 and a beta of 1.07. The company has a debt-to-equity ratio of 2.13, a current ratio of 1.48 and a quick ratio of 0.84.

Leggett & Platt (NYSE:LEG) last announced its earnings results on Monday, October 28th. The company reported $0.32 earnings per share for the quarter, missing analysts’ consensus estimates of $0.33 by ($0.01). The business 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%. The business’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 earnings per share. As a group, sell-side analysts forecast that Leggett & Platt, Incorporated will post 1.05 earnings per share for the current fiscal year.

Leggett & Platt 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.