State of New Jersey Common Pension Fund D Invests $2.09 Million in Leggett & Platt, Incorporated (NYSE:LEG)

State of New Jersey Common Pension Fund D acquired a new position in Leggett & Platt, Incorporated (NYSE:LEG) during the third quarter, according to its most recent 13F filing with the SEC. The firm acquired 153,409 shares of the company’s stock, valued at approximately $2,089,000. State of New Jersey Common Pension Fund D owned 0.11% of Leggett & Platt at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the company. Pacer Advisors Inc. grew its position in shares of Leggett & Platt by 426.2% in the 2nd quarter. Pacer Advisors Inc. now owns 14,042,134 shares of the company’s stock worth $160,923,000 after acquiring an additional 11,373,507 shares in the last quarter. AQR Capital Management LLC lifted its holdings in shares of Leggett & Platt by 1,098.0% in the 2nd quarter. AQR Capital Management LLC now owns 2,005,408 shares of the company’s stock worth $22,160,000 after purchasing an additional 1,838,009 shares during the last quarter. Public Sector Pension Investment Board bought a new stake in shares of Leggett & Platt in the 2nd quarter worth approximately $3,380,000. Invenomic Capital Management LP bought a new stake in shares of Leggett & Platt in the 1st quarter worth approximately $4,203,000. Finally, Quantbot Technologies LP raised its stake in Leggett & Platt by 1,109.0% during the 2nd quarter. Quantbot Technologies LP now owns 238,515 shares of the company’s stock valued at $2,733,000 after acquiring an additional 218,786 shares in the last quarter. 64.23% of the stock is currently owned by hedge funds and other institutional investors.

Leggett & Platt Price Performance

Shares of NYSE:LEG opened at $11.82 on Friday. Leggett & Platt, Incorporated has a fifty-two week low of $10.11 and a fifty-two week high of $27.58. The company has a debt-to-equity ratio of 2.13, a current ratio of 1.48 and a quick ratio of 0.84. The stock has a market capitalization of $1.59 billion, a P/E ratio of -1.97 and a beta of 1.07. The business has a 50-day moving average of $12.71 and a two-hundred day moving average of $12.37.

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

Wall Street Analyst Weigh In

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

Leggett & Platt 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.