Public Sector Pension Investment Board Acquires 67,164 Shares of Leggett & Platt, Incorporated $LEG

Public Sector Pension Investment Board grew its holdings in shares of Leggett & Platt, Incorporated (NYSE:LEG) by 14.6% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 527,935 shares of the company’s stock after purchasing an additional 67,164 shares during the quarter. Public Sector Pension Investment Board’s holdings in Leggett & Platt were worth $4,688,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in LEG. Jones Financial Companies Lllp grew its position in Leggett & Platt by 8.4% during the first quarter. Jones Financial Companies Lllp now owns 14,661 shares of the company’s stock valued at $116,000 after buying an additional 1,132 shares during the period. Amalgamated Bank boosted its stake in Leggett & Platt by 3.7% in the third quarter. Amalgamated Bank now owns 39,752 shares of the company’s stock valued at $353,000 after acquiring an additional 1,419 shares during the last quarter. EP Wealth Advisors LLC grew its position in shares of Leggett & Platt by 5.8% during the 2nd quarter. EP Wealth Advisors LLC now owns 34,859 shares of the company’s stock valued at $311,000 after acquiring an additional 1,912 shares during the period. Penserra Capital Management LLC grew its position in shares of Leggett & Platt by 8.1% during the 2nd quarter. Penserra Capital Management LLC now owns 27,789 shares of the company’s stock valued at $247,000 after acquiring an additional 2,072 shares during the period. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its stake in shares of Leggett & Platt by 7.9% during the 2nd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 34,697 shares of the company’s stock worth $309,000 after purchasing an additional 2,534 shares during the last quarter. 64.23% of the stock is owned by hedge funds and other institutional investors.

Leggett & Platt Price Performance

Shares of NYSE LEG opened at $12.18 on Friday. The company has a debt-to-equity ratio of 1.46, a quick ratio of 1.45 and a current ratio of 2.25. Leggett & Platt, Incorporated has a fifty-two week low of $6.47 and a fifty-two week high of $13.00. The stock has a market cap of $1.65 billion, a PE ratio of 7.20 and a beta of 0.72. The stock has a fifty day moving average of $11.83 and a 200-day moving average of $10.26.

Leggett & Platt (NYSE:LEG) last issued its earnings results on Wednesday, February 11th. The company reported $0.22 EPS for the quarter, hitting the consensus estimate of $0.22. The business had revenue of $938.60 million during the quarter, compared to the consensus estimate of $938.74 million. Leggett & Platt had a return on equity of 15.00% and a net margin of 5.80%.The firm’s revenue was down 11.2% compared to the same quarter last year. During the same quarter last year, the company earned $0.21 EPS. Equities research analysts anticipate that Leggett & Platt, Incorporated will post 1.14 earnings per share for the current year.

Wall Street Analyst Weigh In

LEG has been the topic of several research analyst reports. Wall Street Zen upgraded Leggett & Platt from a “hold” rating to a “buy” rating in a research note on Saturday, February 7th. Truist Financial upped their price target on Leggett & Platt from $10.00 to $12.00 and gave the company a “hold” rating in a research report on Wednesday, October 29th. Zacks Research downgraded Leggett & Platt from a “strong-buy” rating to a “hold” rating in a research note on Friday, December 5th. Piper Sandler boosted their price objective on Leggett & Platt from $10.00 to $12.00 and gave the company a “neutral” rating in a research note on Thursday, December 11th. Finally, Weiss Ratings reiterated a “hold (c-)” rating on shares of Leggett & Platt in a research report on Monday, December 29th. Five investment analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $11.67.

Leggett & Platt Company Profile

Leggett & Platt, Inc is a diversified manufacturer specializing in the design, engineering and production of a wide range of engineered components and products. The company’s offerings span several end markets, including residential bedding, commercial and residential furniture, automotive seating and interiors, aerospace applications and industrial products. By integrating product design with proprietary manufacturing processes, Leggett & Platt serves as a key supplier to both original equipment manufacturers and aftermarket distributors.

The company’s core product lines include coil springs and support systems for mattresses and furniture, adjustable bed mechanisms, engineered components such as extruded and formed metal products, and specialty foam and bedding products.