PEAK6 Investments LLC Makes New Investment in Leggett & Platt, Incorporated (NYSE:LEG)

PEAK6 Investments LLC purchased a new stake in Leggett & Platt, Incorporated (NYSE:LEG) in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 78,358 shares of the company’s stock, valued at approximately $1,067,000. PEAK6 Investments LLC owned 0.06% of Leggett & Platt at the end of the most recent reporting period.

A number of other institutional investors have also recently modified their holdings of LEG. Wedmont Private Capital acquired a new position in shares of Leggett & Platt during the 2nd quarter worth $770,000. Seven Eight Capital LP purchased a new position in Leggett & Platt in the second quarter valued at about $1,948,000. Sequoia Financial Advisors LLC acquired a new stake in shares of Leggett & Platt during the 2nd quarter valued at approximately $119,000. Maryland State Retirement & Pension System lifted its position in shares of Leggett & Platt by 446.8% during the 2nd quarter. Maryland State Retirement & Pension System now owns 57,193 shares of the company’s stock valued at $655,000 after acquiring an additional 46,733 shares during the period. Finally, Prevail Innovative Wealth Advisors LLC acquired a new stake in shares of Leggett & Platt in the 2nd quarter worth approximately $1,322,000. 64.23% of the stock is currently owned by hedge funds and other institutional investors.

Leggett & Platt Stock Up 1.2 %

Shares of NYSE:LEG opened at $12.75 on Tuesday. The company has a market capitalization of $1.71 billion, a P/E ratio of -2.12 and a beta of 1.07. The stock’s fifty day simple moving average is $12.62 and its 200-day simple moving average is $12.26. Leggett & Platt, Incorporated has a 52-week low of $10.11 and a 52-week high of $27.58. The company has a quick ratio of 0.84, a current ratio of 1.48 and a debt-to-equity ratio of 2.13.

Leggett & Platt (NYSE:LEG) last released its earnings results on Monday, October 28th. The company reported $0.32 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.33 by ($0.01). The firm had revenue of $1.10 billion during the quarter, compared to analysts’ expectations of $1.10 billion. Leggett & Platt had a negative net margin of 18.53% and a positive return on equity of 14.99%. Leggett & Platt’s revenue for the quarter was down 6.3% on a year-over-year basis. During the same quarter last year, the company posted $0.36 earnings per share. As a group, equities research analysts forecast that Leggett & Platt, Incorporated will post 1.05 earnings per share for the current fiscal year.

Analyst Ratings Changes

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

Leggett & Platt Company Profile

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.