Glenmede Trust Co. NA Buys 4,074 Shares of Leggett & Platt, Incorporated (NYSE:LEG)

Glenmede Trust Co. NA boosted its stake in shares of Leggett & Platt, Incorporated (NYSE:LEG) by 34.3% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 15,949 shares of the company’s stock after buying an additional 4,074 shares during the period. Glenmede Trust Co. NA’s holdings in Leggett & Platt were worth $217,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in LEG. Wedmont Private Capital bought a new position in shares of Leggett & Platt during the second quarter valued at $770,000. Seven Eight Capital LP purchased a new position in Leggett & Platt in the second quarter worth about $1,948,000. Sequoia Financial Advisors LLC bought a new position in shares of Leggett & Platt in the second quarter worth approximately $119,000. Maryland State Retirement & Pension System grew its holdings in shares of Leggett & Platt by 446.8% during the second quarter. Maryland State Retirement & Pension System now owns 57,193 shares of the company’s stock valued at $655,000 after buying an additional 46,733 shares during the last quarter. Finally, Prevail Innovative Wealth Advisors LLC bought a new stake in shares of Leggett & Platt during the second quarter valued at approximately $1,322,000. Hedge funds and other institutional investors own 64.23% of the company’s stock.

Leggett & Platt Price Performance

Shares of LEG opened at $11.81 on Friday. The firm has a fifty day simple moving average of $12.54 and a two-hundred day simple moving average of $12.26. The firm has a market cap of $1.59 billion, a PE ratio of -1.97 and a beta of 1.07. 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 posted its quarterly earnings data on Monday, October 28th. The company reported $0.32 EPS for the quarter, missing analysts’ consensus estimates of $0.33 by ($0.01). The firm had revenue of $1.10 billion for 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%. The firm’s revenue was down 6.3% compared to the same quarter last year. During the same quarter last year, the company posted $0.36 EPS. On average, equities analysts anticipate that Leggett & Platt, Incorporated will post 1.05 EPS for the current year.

Wall Street Analyst Weigh In

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