Empowered Funds LLC Acquires New Position in Leggett & Platt, Incorporated (NYSE:LEG)

Empowered Funds LLC bought a new position in shares of Leggett & Platt, Incorporated (NYSE:LEG) during the 4th quarter, Holdings Channel.com reports. The fund bought 12,788 shares of the company’s stock, valued at approximately $123,000.

A number of other large investors have also modified their holdings of LEG. Creative Planning lifted its holdings in Leggett & Platt by 6.6% in the third quarter. Creative Planning now owns 129,990 shares of the company’s stock valued at $1,770,000 after acquiring an additional 8,102 shares during the period. Allspring Global Investments Holdings LLC lifted its stake in shares of Leggett & Platt by 76.3% in the third quarter. Allspring Global Investments Holdings LLC now owns 2,043 shares of the company’s stock valued at $28,000 after purchasing an additional 884 shares during the period. Sequoia Financial Advisors LLC boosted its holdings in Leggett & Platt by 34.1% during the third quarter. Sequoia Financial Advisors LLC now owns 13,925 shares of the company’s stock worth $190,000 after buying an additional 3,542 shares in the last quarter. Ballentine Partners LLC purchased a new stake in Leggett & Platt during the third quarter worth about $251,000. Finally, Mirae Asset Global Investments Co. Ltd. grew its position in Leggett & Platt by 9.3% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 81,730 shares of the company’s stock worth $1,154,000 after buying an additional 6,955 shares during the period. 64.23% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

LEG has been the subject of a number of research reports. Truist Financial reduced their price target on shares of Leggett & Platt from $13.00 to $11.00 and set a “hold” rating for the company in a research report on Wednesday, January 29th. Piper Sandler raised Leggett & Platt from an “underweight” rating to a “neutral” rating and lifted their price objective for the stock from $11.00 to $13.00 in a report on Wednesday, October 30th. Finally, The Goldman Sachs Group lowered their target price on Leggett & Platt from $14.00 to $12.00 and set a “neutral” rating on the stock in a report on Tuesday, January 14th. Four equities research analysts have rated the stock with a hold rating, According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $12.00.

Leggett & Platt Stock Down 2.5 %

LEG stock opened at $9.54 on Friday. The company has a debt-to-equity ratio of 2.70, a current ratio of 2.00 and a quick ratio of 1.14. Leggett & Platt, Incorporated has a 12 month low of $9.18 and a 12 month high of $21.03. The firm has a market capitalization of $1.28 billion, a PE ratio of -2.56 and a beta of 1.12. The company’s 50 day simple moving average is $10.15 and its 200-day simple moving average is $11.67.

Leggett & Platt (NYSE:LEG) last released its quarterly earnings results on Thursday, February 13th. The company reported $0.21 earnings per share for the quarter, hitting the consensus estimate of $0.21. Leggett & Platt had a positive return on equity of 17.09% and a negative net margin of 11.67%. The company had revenue of $1.06 billion during the quarter, compared to the consensus estimate of $1.03 billion. Equities analysts expect that Leggett & Platt, Incorporated will post 1.14 earnings per share for the current fiscal year.

Leggett & Platt Company Profile

Leggett & Platt, Inc engages in the manufacture and distribution of furniture and engineered components and products among homes, offices, automobiles, and commercial aircraft. It operates through the following segments: Bedding Products, Specialized Products, and Furniture, Flooring & Textile Products.