Healthcare of Ontario Pension Plan Trust Fund Makes New Investment in Leggett & Platt, Incorporated (NYSE:LEG)

Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in Leggett & Platt, Incorporated (NYSE:LEG) during the third quarter, Holdings Channel reports. The institutional investor purchased 144,497 shares of the company’s stock, valued at approximately $1,968,000.

A number of other institutional investors also recently added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC boosted its position in shares of Leggett & Platt by 76.3% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 2,043 shares of the company’s stock worth $28,000 after acquiring an additional 884 shares in the last quarter. CVA Family Office LLC purchased a new stake in shares of Leggett & Platt during the 2nd quarter worth approximately $36,000. Fifth Third Bancorp boosted its holdings in shares of Leggett & Platt by 367.8% in the 2nd quarter. Fifth Third Bancorp now owns 3,396 shares of the company’s stock valued at $39,000 after buying an additional 2,670 shares in the last quarter. nVerses Capital LLC acquired a new position in shares of Leggett & Platt in the 3rd quarter valued at $41,000. Finally, Brooklyn Investment Group acquired a new stake in Leggett & Platt during the 3rd quarter worth $44,000. Hedge funds and other institutional investors own 64.23% of the company’s stock.

Analyst Ratings Changes

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

Leggett & Platt Stock Up 0.1 %

LEG stock opened at $12.59 on Monday. The stock has a market capitalization of $1.69 billion, a PE ratio of -2.09 and a beta of 1.07. Leggett & Platt, Incorporated has a one year low of $10.11 and a one year high of $27.58. The company has a fifty day moving average of $12.62 and a 200-day moving average of $12.26. The company has a debt-to-equity ratio of 2.13, a quick ratio of 0.84 and a current ratio of 1.48.

Leggett & Platt (NYSE:LEG) last issued 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 business had revenue of $1.10 billion for the quarter, compared to analysts’ expectations of $1.10 billion. Leggett & Platt had a positive return on equity of 14.99% and a negative net margin of 18.53%. The business’s quarterly revenue was down 6.3% on a year-over-year basis. During the same period last year, the company posted $0.36 earnings per share. As a group, analysts expect that Leggett & Platt, Incorporated will post 1.05 EPS for the current year.

About Leggett & Platt

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.