Holocene Advisors LP Grows Stock Holdings in Leggett & Platt, Incorporated (NYSE:LEG)

Holocene Advisors LP increased its stake in shares of Leggett & Platt, Incorporated (NYSE:LEG - Free Report) by 34.9% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 230,623 shares of the company's stock after acquiring an additional 59,668 shares during the period. Holocene Advisors LP owned about 0.17% of Leggett & Platt worth $3,141,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of LEG. Arizona State Retirement System increased its holdings in shares of Leggett & Platt by 2.2% during the 2nd quarter. Arizona State Retirement System now owns 37,438 shares of the company's stock valued at $429,000 after purchasing an additional 799 shares in the last quarter. Allspring Global Investments Holdings LLC increased its holdings in 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 buying an additional 884 shares in the last quarter. SteelPeak Wealth LLC raised its position in shares of Leggett & Platt by 10.2% in the second quarter. SteelPeak Wealth LLC now owns 12,348 shares of the company's stock worth $142,000 after acquiring an additional 1,140 shares during the period. Twelve Points Wealth Management LLC raised its position in shares of Leggett & Platt by 5.9% in the second quarter. Twelve Points Wealth Management LLC now owns 21,975 shares of the company's stock worth $252,000 after acquiring an additional 1,219 shares during the period. Finally, Applied Capital LLC FL boosted its stake in shares of Leggett & Platt by 5.4% during the 3rd quarter. Applied Capital LLC FL now owns 25,987 shares of the company's stock worth $354,000 after acquiring an additional 1,327 shares in the last quarter. 64.23% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on LEG shares. StockNews.com raised Leggett & Platt from a "sell" rating to a "hold" rating in a report on Wednesday, August 28th. Piper Sandler upgraded Leggett & Platt from an "underweight" rating to a "neutral" rating and increased their target price 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, the company currently has a consensus rating of "Hold" and a consensus price target of $12.67.

Leggett & Platt Price Performance

LEG stock traded down $0.04 during trading on Friday, hitting $11.77. The stock had a trading volume of 1,315,969 shares, compared to its average volume of 2,233,838. Leggett & Platt, Incorporated has a twelve month low of $10.11 and a twelve month high of $27.58. The company's 50-day moving average price is $12.54 and its two-hundred day moving average price is $12.26. The company has a debt-to-equity ratio of 2.13, a current ratio of 1.48 and a quick ratio of 0.84. The stock has a market capitalization of $1.58 billion, a P/E ratio of -1.97 and a beta of 1.07.

Leggett & Platt (NYSE:LEG - Get Free Report) last issued 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 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 period in the prior year, the firm earned $0.36 earnings per share. The business's revenue was down 6.3% on a year-over-year basis. As a group, research analysts predict that Leggett & Platt, Incorporated will post 1.05 EPS for the current fiscal year.

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.