Speece Thorson Capital Group Inc. Reduces Stake in Leggett & Platt, Incorporated (NYSE:LEG)

Speece Thorson Capital Group Inc. reduced its position in Leggett & Platt, Incorporated (NYSE:LEG) by 0.2% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 616,815 shares of the company’s stock after selling 1,068 shares during the period. Speece Thorson Capital Group Inc.’s holdings in Leggett & Platt were worth $8,401,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. State Board of Administration of Florida Retirement System increased its position in Leggett & Platt by 6.6% during the first quarter. State Board of Administration of Florida Retirement System now owns 149,692 shares of the company’s stock worth $2,867,000 after buying an additional 9,254 shares in the last quarter. Wedmont Private Capital purchased a new position in Leggett & Platt during the second quarter worth $770,000. Seven Eight Capital LP purchased a new position in Leggett & Platt during the second quarter worth $1,948,000. Sequoia Financial Advisors LLC purchased a new position in Leggett & Platt during the second quarter worth $119,000. Finally, Maryland State Retirement & Pension System grew its position in shares of Leggett & Platt by 446.8% in the second quarter. Maryland State Retirement & Pension System now owns 57,193 shares of the company’s stock valued at $655,000 after purchasing an additional 46,733 shares during the period. 64.23% of the stock is owned by hedge funds and other institutional investors.

Leggett & Platt Stock Up 0.3 %

Leggett & Platt stock traded up $0.04 during midday trading on Wednesday, reaching $11.91. The stock had a trading volume of 145,015 shares, compared to its average volume of 2,283,536. The stock’s 50-day simple moving average is $12.70 and its 200 day simple moving average is $12.42. Leggett & Platt, Incorporated has a twelve month low of $10.11 and a twelve month high of $27.58. 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 (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). The company had revenue of $1.10 billion for the quarter, compared to analyst estimates of $1.10 billion. Leggett & Platt had a positive return on equity of 14.99% and a negative net margin of 18.53%. The company’s revenue for the quarter was down 6.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.36 EPS. Analysts forecast that Leggett & Platt, Incorporated will post 1.05 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on LEG shares. Piper Sandler raised Leggett & Platt from an “underweight” rating to a “neutral” rating and lifted their price objective for the company from $11.00 to $13.00 in a research report on Wednesday, October 30th. Truist Financial lifted their price objective on Leggett & Platt from $11.00 to $13.00 and gave the company a “hold” rating in a research report on Monday, August 5th. Finally, StockNews.com raised Leggett & Platt from a “sell” rating to a “hold” rating in a research report on Wednesday, August 28th. Four analysts have rated the stock with a hold rating, Based on data from MarketBeat, Leggett & Platt currently has a consensus rating of “Hold” and a consensus price target of $12.67.

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.