68,320 Shares in Leggett & Platt, Incorporated $LEG Purchased by Illinois Municipal Retirement Fund

Illinois Municipal Retirement Fund acquired a new stake in Leggett & Platt, Incorporated (NYSE:LEG) during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 68,320 shares of the company’s stock, valued at approximately $607,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in LEG. Royal Bank of Canada grew its position in shares of Leggett & Platt by 59.5% in the first quarter. Royal Bank of Canada now owns 47,054 shares of the company’s stock valued at $372,000 after purchasing an additional 17,561 shares during the last quarter. Jones Financial Companies Lllp lifted its stake in Leggett & Platt by 8.4% in the 1st quarter. Jones Financial Companies Lllp now owns 14,661 shares of the company’s stock valued at $116,000 after buying an additional 1,132 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in Leggett & Platt by 3.0% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 454,096 shares of the company’s stock valued at $3,592,000 after buying an additional 13,187 shares in the last quarter. Jane Street Group LLC grew its holdings in Leggett & Platt by 36.3% during the 1st quarter. Jane Street Group LLC now owns 1,175,452 shares of the company’s stock valued at $9,298,000 after buying an additional 312,840 shares during the last quarter. Finally, Acadian Asset Management LLC increased its position in Leggett & Platt by 113.5% during the first quarter. Acadian Asset Management LLC now owns 109,638 shares of the company’s stock worth $866,000 after buying an additional 58,292 shares in the last quarter. Institutional investors and hedge funds own 64.23% of the company’s stock.

Analyst Ratings Changes

LEG has been the subject of a number of recent research reports. Weiss Ratings reiterated a “hold (c-)” rating on shares of Leggett & Platt in a research report on Monday, December 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 note on Wednesday, October 29th. Wall Street Zen lowered shares of Leggett & Platt from a “buy” rating to a “hold” rating in a research report on Saturday. The Goldman Sachs Group reissued a “neutral” rating and set a $11.00 price objective on shares of Leggett & Platt in a research note on Wednesday, October 29th. Finally, Piper Sandler lifted their target price on shares of Leggett & Platt from $10.00 to $12.00 and gave the stock a “neutral” rating in a research note on Thursday, December 11th. Five research analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $11.67.

Leggett & Platt Stock Down 2.2%

Shares of LEG opened at $11.92 on Friday. Leggett & Platt, Incorporated has a fifty-two week low of $6.47 and a fifty-two week high of $13.00. The company’s fifty day moving average is $11.84 and its two-hundred day moving average is $10.28. The firm has a market cap of $1.61 billion, a PE ratio of 7.05 and a beta of 0.72. The company has a quick ratio of 1.45, a current ratio of 2.25 and a debt-to-equity ratio of 1.46.

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

Leggett & Platt 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.