PEAK6 Investments LLC Makes New $1.07 Million Investment in Leggett & Platt, Incorporated (NYSE:LEG)

PEAK6 Investments LLC purchased a new stake in Leggett & Platt, Incorporated (NYSE:LEG) in the 3rd quarter, Holdings Channel reports. The firm purchased 78,358 shares of the company’s stock, valued at approximately $1,067,000.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Pacer Advisors Inc. increased its holdings in shares of Leggett & Platt by 426.2% during the 2nd quarter. Pacer Advisors Inc. now owns 14,042,134 shares of the company’s stock worth $160,923,000 after buying an additional 11,373,507 shares during the last quarter. AQR Capital Management LLC increased its stake in Leggett & Platt by 1,098.0% during the second quarter. AQR Capital Management LLC now owns 2,005,408 shares of the company’s stock worth $22,160,000 after acquiring an additional 1,838,009 shares during the last quarter. FMR LLC raised its holdings in shares of Leggett & Platt by 3,264.5% in the 3rd quarter. FMR LLC now owns 692,884 shares of the company’s stock worth $9,437,000 after purchasing an additional 672,290 shares during the period. Principal Financial Group Inc. lifted its stake in shares of Leggett & Platt by 31.0% in the 2nd quarter. Principal Financial Group Inc. now owns 658,117 shares of the company’s stock valued at $7,542,000 after purchasing an additional 155,860 shares in the last quarter. Finally, Public Sector Pension Investment Board purchased a new position in Leggett & Platt in the second quarter valued at approximately $3,380,000. Institutional investors and hedge funds own 64.23% of the company’s stock.

Wall Street Analyst Weigh In

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

Leggett & Platt Trading Up 1.2 %

NYSE LEG opened at $12.75 on Tuesday. The stock has a market cap of $1.71 billion, a P/E ratio of -2.12 and a beta of 1.07. The company’s fifty day simple moving average is $12.62 and its 200-day simple moving average is $12.26. 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, Incorporated has a 52 week low of $10.11 and a 52 week high of $27.58.

Leggett & Platt (NYSE:LEG) last issued 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 positive return on equity of 14.99% and a negative net margin of 18.53%. The firm had revenue of $1.10 billion during the quarter, compared to analyst estimates of $1.10 billion. During the same quarter in the prior year, the firm earned $0.36 EPS. The business’s quarterly revenue was down 6.3% compared to the same quarter last year. Equities research analysts predict that Leggett & Platt, Incorporated will post 1.05 EPS 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.