Janney Montgomery Scott LLC Purchases 4,442 Shares of Leggett & Platt, Incorporated (NYSE:LEG)

Janney Montgomery Scott LLC grew its stake in shares of Leggett & Platt, Incorporated (NYSE:LEG) by 5.3% in the third quarter, Holdings Channel reports. The institutional investor owned 87,882 shares of the company’s stock after purchasing an additional 4,442 shares during the period. Janney Montgomery Scott LLC’s holdings in Leggett & Platt were worth $1,197,000 as of its most recent filing with the SEC.

A number of other large investors have also made changes to their positions in the stock. Arizona State Retirement System raised its position in shares of Leggett & Platt by 2.2% during the second quarter. Arizona State Retirement System now owns 37,438 shares of the company’s stock valued at $429,000 after buying an additional 799 shares during the last quarter. Allspring Global Investments Holdings LLC raised its position in Leggett & Platt by 76.3% in the third quarter. Allspring Global Investments Holdings LLC now owns 2,043 shares of the company’s stock worth $28,000 after purchasing an additional 884 shares in the last quarter. Swiss National Bank raised its position in Leggett & Platt by 0.3% in the first quarter. Swiss National Bank now owns 263,300 shares of the company’s stock worth $5,042,000 after purchasing an additional 900 shares in the last quarter. Abich Financial Wealth Management LLC raised its position in Leggett & Platt by 93.2% in the first quarter. Abich Financial Wealth Management LLC now owns 1,930 shares of the company’s stock worth $37,000 after purchasing an additional 931 shares in the last quarter. Finally, MQS Management LLC raised its position in Leggett & Platt by 8.3% in the first quarter. MQS Management LLC now owns 13,366 shares of the company’s stock worth $256,000 after purchasing an additional 1,027 shares in the last quarter. Institutional investors and hedge funds own 64.23% of the company’s stock.

Leggett & Platt Stock Performance

NYSE LEG opened at $11.82 on Friday. The firm has a market cap of $1.59 billion, a price-to-earnings ratio of -1.97 and a beta of 1.07. The company has a 50 day moving average of $12.71 and a 200-day moving average of $12.37. The company has a current ratio of 1.48, a quick ratio of 0.84 and a debt-to-equity ratio of 2.13. Leggett & Platt, Incorporated has a 1-year low of $10.11 and a 1-year high of $27.58.

Leggett & Platt (NYSE:LEG) last released its quarterly earnings results on Monday, October 28th. The company reported $0.32 EPS for the quarter, missing the consensus estimate 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 company had revenue of $1.10 billion for the quarter, compared to the consensus estimate of $1.10 billion. During the same period last year, the company earned $0.36 earnings per share. Leggett & Platt’s revenue for the quarter was down 6.3% compared to the same quarter last year. On average, equities analysts forecast that Leggett & Platt, Incorporated will post 1.05 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research analysts recently issued reports on LEG shares. Truist Financial increased their price target on shares of 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 raised their price objective for the stock from $11.00 to $13.00 in a report on Wednesday, October 30th. Finally, StockNews.com raised shares of Leggett & Platt from a “sell” rating to a “hold” rating in a report on Wednesday, August 28th. Four equities research analysts have rated the stock with a hold rating, According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target 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.