Cerity Partners LLC Grows Stock Holdings in Leggett & Platt, Incorporated (NYSE:LEG)

Cerity Partners LLC increased its position in shares of Leggett & Platt, Incorporated (NYSE:LEG - Free Report) by 158.2% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 83,402 shares of the company's stock after purchasing an additional 51,106 shares during the quarter. Cerity Partners LLC owned approximately 0.06% of Leggett & Platt worth $1,136,000 as of its most recent filing with the SEC.

Several other large investors have also recently made changes to their positions in LEG. Pacer Advisors Inc. grew its holdings in Leggett & Platt by 426.2% in the 2nd quarter. Pacer Advisors Inc. now owns 14,042,134 shares of the company's stock valued at $160,923,000 after buying an additional 11,373,507 shares in the last quarter. AQR Capital Management LLC lifted its stake in shares of Leggett & Platt by 1,098.0% in the 2nd quarter. AQR Capital Management LLC now owns 2,005,408 shares of the company's stock valued at $22,160,000 after purchasing an additional 1,838,009 shares during the last quarter. 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 during the last quarter. Public Sector Pension Investment Board acquired a new position in shares of Leggett & Platt in the 2nd quarter valued at $3,380,000. Finally, V2 Financial group LLC lifted its stake in shares of Leggett & Platt by 45.7% in the 2nd quarter. V2 Financial group LLC now owns 249,323 shares of the company's stock valued at $2,857,000 after purchasing an additional 78,248 shares during the last quarter. 64.23% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

LEG has been the topic of several recent analyst reports. StockNews.com raised Leggett & Platt from a "sell" rating to a "hold" rating in a research note on Wednesday, August 28th. Piper Sandler raised Leggett & Platt from an "underweight" rating to a "neutral" rating and upped their price target for the company from $11.00 to $13.00 in a research note on Wednesday, October 30th. Four research analysts have rated the stock with a hold rating, According to MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $12.67.

Leggett & Platt Price Performance

LEG traded down $0.43 during mid-day trading on Thursday, hitting $11.81. 1,481,808 shares of the stock were exchanged, compared to its average volume of 2,237,713. The firm's fifty day moving average is $12.58 and its two-hundred day moving average is $12.26. Leggett & Platt, Incorporated has a 1-year low of $10.11 and a 1-year 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 - Get Free Report) last released 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 negative net margin of 18.53% and a positive return on equity of 14.99%. The business had revenue of $1.10 billion during the quarter, compared to analysts' expectations of $1.10 billion. During the same quarter in the previous year, the company posted $0.36 EPS. The company's revenue was down 6.3% compared to the same quarter last year. As a group, sell-side analysts expect that Leggett & Platt, Incorporated will post 1.05 earnings per share 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.