Brooklyn Investment Group Makes New Investment in Leggett & Platt, Incorporated (NYSE:LEG)

Brooklyn Investment Group purchased a new position in Leggett & Platt, Incorporated (NYSE:LEG) in the third quarter, HoldingsChannel.com reports. The firm purchased 3,245 shares of the company’s stock, valued at approximately $44,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Wedmont Private Capital purchased a new stake in Leggett & Platt in the second quarter worth about $770,000. Seven Eight Capital LP purchased a new stake in Leggett & Platt in the second quarter worth about $1,948,000. Sequoia Financial Advisors LLC purchased a new stake in Leggett & Platt in the second quarter worth about $119,000. Maryland State Retirement & Pension System increased its position in Leggett & Platt by 446.8% in the second quarter. Maryland State Retirement & Pension System now owns 57,193 shares of the company’s stock worth $655,000 after buying an additional 46,733 shares in the last quarter. Finally, Prevail Innovative Wealth Advisors LLC bought a new position in shares of Leggett & Platt in the second quarter worth about $1,322,000. Hedge funds and other institutional investors own 64.23% of the company’s stock.

Wall Street Analyst Weigh In

LEG has been the subject of a number of recent analyst reports. StockNews.com raised Leggett & Platt from a “sell” rating to a “hold” rating in a research note on Wednesday, August 28th. Piper Sandler raised Leggett & Platt from an “underweight” rating to a “neutral” rating and upped their price objective for the stock from $11.00 to $13.00 in a research note on Wednesday, October 30th. Finally, Truist Financial upped their price objective on Leggett & Platt from $11.00 to $13.00 and gave the stock a “hold” rating in a research note on Monday, August 5th. Four investment analysts have rated the stock with a hold rating, According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $12.67.

Leggett & Platt Price Performance

Shares of Leggett & Platt stock opened at $12.59 on Friday. The stock has a 50 day moving average of $12.64 and a 200 day moving average of $12.26. Leggett & Platt, Incorporated has a 12 month low of $10.11 and a 12 month 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 current ratio of 1.48, a quick ratio of 0.84 and a debt-to-equity ratio of 2.13.

Leggett & Platt (NYSE:LEG) last announced 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). Leggett & Platt had a negative net margin of 18.53% and a positive return on equity of 14.99%. The firm had revenue of $1.10 billion for the quarter, compared to the consensus estimate of $1.10 billion. During the same period in the previous year, the company posted $0.36 earnings per share. Leggett & Platt’s quarterly revenue was down 6.3% on a year-over-year basis. On average, research analysts expect that Leggett & Platt, Incorporated will post 1.05 EPS for the current fiscal 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.