Meeder Asset Management Inc. Sells 116,488 Shares of Leggett & Platt, Incorporated (NYSE:LEG)

Meeder Asset Management Inc. reduced its holdings in shares of Leggett & Platt, Incorporated (NYSE:LEG - Free Report) by 97.4% in the third quarter, according to its most recent filing with the SEC. The fund owned 3,092 shares of the company's stock after selling 116,488 shares during the period. Meeder Asset Management Inc.'s holdings in Leggett & Platt were worth $42,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of LEG. Allspring Global Investments Holdings LLC increased its stake in Leggett & Platt by 76.3% during the third quarter. Allspring Global Investments Holdings LLC now owns 2,043 shares of the company's stock worth $28,000 after acquiring an additional 884 shares during the last quarter. CVA Family Office LLC acquired a new stake in shares of Leggett & Platt in the second quarter valued at about $36,000. Abich Financial Wealth Management LLC grew its holdings in Leggett & Platt by 93.2% during the 1st quarter. Abich Financial Wealth Management LLC now owns 1,930 shares of the company's stock valued at $37,000 after buying an additional 931 shares during the last quarter. Fifth Third Bancorp grew its stake in Leggett & Platt by 367.8% in the 2nd quarter. Fifth Third Bancorp now owns 3,396 shares of the company's stock worth $39,000 after acquiring an additional 2,670 shares during the period. Finally, nVerses Capital LLC purchased a new stake in shares of Leggett & Platt during the 3rd quarter valued at $41,000. Hedge funds and other institutional investors own 64.23% of the company's stock.

Wall Street Analyst Weigh In

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

Leggett & Platt Stock Performance

Shares of Leggett & Platt stock traded up $0.10 during trading hours on Thursday, reaching $11.38. The company's stock had a trading volume of 623,635 shares, compared to its average volume of 2,263,830. The company has a quick ratio of 0.84, a current ratio of 1.48 and a debt-to-equity ratio of 2.13. The stock's fifty day simple moving average is $12.70 and its two-hundred day simple moving average is $12.29. Leggett & Platt, Incorporated has a one year low of $10.11 and a one year high of $27.58.

Leggett & Platt (NYSE:LEG - Get Free Report) last posted its quarterly earnings results 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 during the quarter, compared to the consensus estimate 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 period last year, the firm posted $0.36 EPS. On average, research analysts forecast that Leggett & Platt, Incorporated will post 1.05 EPS for the current 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.