Leggett & Platt, Incorporated (NYSE:LEG) Stock Holdings Reduced by V2 Financial group LLC

V2 Financial group LLC lowered its stake in shares of Leggett & Platt, Incorporated (NYSE:LEG) by 2.9% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 242,186 shares of the company’s stock after selling 7,137 shares during the quarter. Leggett & Platt makes up about 2.1% of V2 Financial group LLC’s holdings, making the stock its 8th biggest position. V2 Financial group LLC owned 0.18% of Leggett & Platt worth $3,299,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also modified their holdings of the company. Mirae Asset Global Investments Co. Ltd. grew its position in shares of Leggett & Platt by 155.9% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 48,716 shares of the company’s stock worth $933,000 after acquiring an additional 29,677 shares during the last quarter. BNP Paribas Financial Markets increased its stake in Leggett & Platt by 66.8% in the first quarter. BNP Paribas Financial Markets now owns 70,271 shares of the company’s stock valued at $1,346,000 after purchasing an additional 28,149 shares during the period. Texas Permanent School Fund Corp raised its holdings in shares of Leggett & Platt by 1.5% in the first quarter. Texas Permanent School Fund Corp now owns 115,556 shares of the company’s stock valued at $2,213,000 after buying an additional 1,730 shares during the last quarter. Illinois Municipal Retirement Fund boosted its stake in shares of Leggett & Platt by 121.3% during the first quarter. Illinois Municipal Retirement Fund now owns 62,120 shares of the company’s stock worth $1,190,000 after buying an additional 34,053 shares during the period. Finally, Swiss National Bank grew its holdings in shares of Leggett & Platt by 0.3% during the first quarter. Swiss National Bank now owns 263,300 shares of the company’s stock worth $5,042,000 after buying an additional 900 shares during the last quarter. Institutional investors and hedge funds own 64.23% of the company’s stock.

Leggett & Platt Stock Down 0.5 %

Leggett & Platt stock opened at $12.07 on Tuesday. The stock’s 50 day moving average price is $12.71 and its 200 day moving average price is $12.46. The company has a market cap of $1.62 billion, a PE ratio of -2.01 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, Incorporated has a 1-year low of $10.11 and a 1-year high of $27.58.

Leggett & Platt (NYSE:LEG) last announced its quarterly 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). 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 during the quarter, compared to analysts’ expectations of $1.10 billion. During the same quarter in the prior year, the business earned $0.36 EPS. The business’s revenue for the quarter was down 6.3% compared to the same quarter last year. On average, sell-side analysts predict that Leggett & Platt, Incorporated will post 1.04 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research firms have weighed in on LEG. Truist Financial increased their price objective on Leggett & Platt from $11.00 to $13.00 and gave the stock a “hold” rating in a research report on Monday, August 5th. StockNews.com raised Leggett & Platt from a “sell” rating to a “hold” rating in a report 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 analysts have rated the stock with a hold rating, Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $12.67.

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.