State of New Jersey Common Pension Fund D Takes Position in Leggett & Platt, Incorporated (NYSE:LEG)

State of New Jersey Common Pension Fund D bought a new stake in shares of Leggett & Platt, Incorporated (NYSE:LEG - Free Report) in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 153,409 shares of the company's stock, valued at approximately $2,089,000. State of New Jersey Common Pension Fund D owned about 0.11% of Leggett & Platt at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the business. Allspring Global Investments Holdings LLC grew its stake in shares of Leggett & Platt by 76.3% during the 3rd 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 period. CVA Family Office LLC purchased a new position in shares of Leggett & Platt in the second quarter worth about $36,000. Abich Financial Wealth Management LLC raised its position in shares of Leggett & Platt by 93.2% in the first quarter. Abich Financial Wealth Management LLC now owns 1,930 shares of the company's stock valued at $37,000 after purchasing an additional 931 shares during the period. Fifth Third Bancorp lifted its stake in shares of Leggett & Platt by 367.8% during the 2nd quarter. Fifth Third Bancorp now owns 3,396 shares of the company's stock valued at $39,000 after buying an additional 2,670 shares in the last quarter. Finally, nVerses Capital LLC bought a new position in Leggett & Platt in the 3rd quarter worth approximately $41,000. 64.23% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

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

Leggett & Platt Trading Up 0.2 %

NYSE:LEG traded up $0.02 during trading hours on Friday, reaching $11.82. The company's stock had a trading volume of 1,245,044 shares, compared to its average volume of 2,282,334. The firm has a market capitalization of $1.59 billion, a price-to-earnings ratio of -1.97 and a beta of 1.07. The firm has a 50-day simple moving average of $12.71 and a 200-day simple moving average of $12.37. The company has a debt-to-equity ratio of 2.13, a quick ratio of 0.84 and a current ratio of 1.48. Leggett & Platt, Incorporated has a 1 year low of $10.11 and a 1 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). Leggett & Platt had a negative net margin of 18.53% and a positive return on equity of 14.99%. The firm had revenue of $1.10 billion for the quarter, compared to the consensus estimate of $1.10 billion. During the same quarter in the prior year, the company earned $0.36 earnings per share. The company's quarterly revenue was down 6.3% compared to the same quarter last year. Research analysts expect 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.