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

Caprock Group LLC bought a new position in shares of Leggett & Platt, Incorporated (NYSE:LEG) during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 58,888 shares of the company’s stock, valued at approximately $566,000.

Several other institutional investors and hedge funds have also recently modified their holdings of LEG. Quent Capital LLC purchased a new position in Leggett & Platt during the third quarter worth approximately $34,000. Nisa Investment Advisors LLC purchased a new stake in shares of Leggett & Platt in the second quarter valued at approximately $76,000. HM Payson & Co. purchased a new stake in shares of Leggett & Platt in the third quarter valued at approximately $89,000. Captrust Financial Advisors acquired a new position in shares of Leggett & Platt during the 2nd quarter worth approximately $91,000. Finally, Aaron Wealth Advisors LLC purchased a new position in shares of Leggett & Platt during the 3rd quarter valued at approximately $92,000. Hedge funds and other institutional investors own 64.23% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on LEG shares. Truist Financial lifted their price target on shares of Leggett & Platt from $10.00 to $12.00 and gave the company a “hold” rating in a research note on Wednesday, October 29th. Piper Sandler lifted their target price on shares of Leggett & Platt from $10.00 to $12.00 and gave the company a “neutral” rating in a research report on Thursday, December 11th. Weiss Ratings reissued a “hold (c-)” rating on shares of Leggett & Platt in a research note on Monday, December 29th. Zacks Research downgraded shares of Leggett & Platt from a “strong-buy” rating to a “hold” rating in a research report on Friday, December 5th. Finally, Wall Street Zen raised shares of Leggett & Platt from a “hold” rating to a “buy” rating in a research note on Saturday, February 7th. Five investment analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $11.67.

Leggett & Platt Price Performance

Leggett & Platt stock opened at $11.76 on Wednesday. The company has a fifty day simple moving average of $11.81 and a 200-day simple moving average of $10.24. The firm has a market capitalization of $1.59 billion, a price-to-earnings ratio of 6.96 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, Incorporated has a 52-week low of $6.47 and a 52-week high of $13.00.

Leggett & Platt (NYSE:LEG) last posted its quarterly 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 net margin of 5.80% and a return on equity of 15.00%. The firm had revenue of $938.60 million for the quarter, compared to the consensus estimate of $938.74 million. During the same period last year, the firm posted $0.21 earnings per share. The company’s revenue for the quarter was down 11.2% on a year-over-year basis. On average, equities analysts anticipate that Leggett & Platt, Incorporated will post 1.14 EPS for the current fiscal 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.