Caprock Group LLC Makes New $566,000 Investment in Leggett & Platt, Incorporated $LEG

Caprock Group LLC purchased a new position in shares of Leggett & Platt, Incorporated (NYSE:LEG) during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 58,888 shares of the company’s stock, valued at approximately $566,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. Marshall Wace LLP lifted its stake in shares of Leggett & Platt by 35.8% during the second quarter. Marshall Wace LLP now owns 3,380,980 shares of the company’s stock worth $30,158,000 after buying an additional 890,577 shares during the period. Franklin Resources Inc. acquired a new position in shares of Leggett & Platt in the 2nd quarter valued at $2,137,000. Prudential Financial Inc. increased its position in shares of Leggett & Platt by 202.7% in the 2nd quarter. Prudential Financial Inc. now owns 402,232 shares of the company’s stock valued at $3,588,000 after acquiring an additional 269,347 shares during the period. Exchange Traded Concepts LLC purchased a new position in Leggett & Platt in the 3rd quarter worth $1,093,000. Finally, Norges Bank acquired a new stake in Leggett & Platt during the 2nd quarter worth about $10,706,000. Hedge funds and other institutional investors own 64.23% of the company’s stock.

Leggett & Platt Stock Up 0.3%

Shares of LEG opened at $11.76 on Wednesday. Leggett & Platt, Incorporated has a 52 week low of $6.47 and a 52 week high of $13.00. The company has a quick ratio of 1.45, a current ratio of 2.25 and a debt-to-equity ratio of 1.46. The company has a market capitalization of $1.59 billion, a price-to-earnings ratio of 6.96 and a beta of 0.72. The stock’s 50-day moving average price is $11.81 and its 200-day moving average price is $10.24.

Leggett & Platt (NYSE:LEG) last announced its quarterly earnings results on Wednesday, February 11th. The company reported $0.22 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.22. Leggett & Platt had a return on equity of 15.00% and a net margin of 5.80%.The company had revenue of $938.60 million during the quarter, compared to the consensus estimate of $938.74 million. During the same period in the previous year, the company posted $0.21 earnings per share. Leggett & Platt’s revenue for the quarter was down 11.2% on a year-over-year basis. On average, sell-side analysts predict that Leggett & Platt, Incorporated will post 1.14 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on LEG shares. Weiss Ratings reissued a “hold (c-)” rating on shares of Leggett & Platt in a report on Monday, December 29th. Wall Street Zen raised Leggett & Platt from a “hold” rating to a “buy” rating in a report on Saturday, February 7th. The Goldman Sachs Group reiterated a “neutral” rating and issued a $11.00 price target on shares of Leggett & Platt in a report on Wednesday, October 29th. Truist Financial raised their price target on shares of Leggett & Platt from $10.00 to $12.00 and gave the stock a “hold” rating in a research report on Wednesday, October 29th. Finally, Piper Sandler lifted their price objective on shares of Leggett & Platt from $10.00 to $12.00 and gave the company a “neutral” rating in a research note on Thursday, December 11th. Five analysts have rated the stock with a Hold rating, According to MarketBeat.com, Leggett & Platt currently has an average rating of “Hold” and an average target price of $11.67.

Leggett & Platt Company Profile

Leggett & Platt, Inc is a diversified manufacturer specializing in the design, engineering and production of a wide range of engineered components and products. The company’s offerings span several end markets, including residential bedding, commercial and residential furniture, automotive seating and interiors, aerospace applications and industrial products. By integrating product design with proprietary manufacturing processes, Leggett & Platt serves as a key supplier to both original equipment manufacturers and aftermarket distributors.

The company’s core product lines include coil springs and support systems for mattresses and furniture, adjustable bed mechanisms, engineered components such as extruded and formed metal products, and specialty foam and bedding products.