Quest Partners LLC Has $615,000 Position in Leggett & Platt, Incorporated (NYSE:LEG)

Quest Partners LLC increased its stake in shares of Leggett & Platt, Incorporated (NYSE:LEG) by 4,511,800.0% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 45,119 shares of the company’s stock after purchasing an additional 45,118 shares during the quarter. Quest Partners LLC’s holdings in Leggett & Platt were worth $615,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Pacer Advisors Inc. grew its stake in shares of Leggett & Platt by 426.2% during the second quarter. Pacer Advisors Inc. now owns 14,042,134 shares of the company’s stock worth $160,923,000 after buying an additional 11,373,507 shares during the last quarter. AQR Capital Management LLC increased its holdings in 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 in the last quarter. Public Sector Pension Investment Board bought a new position in Leggett & Platt in the second quarter valued at about $3,380,000. Invenomic Capital Management LP bought a new stake in shares of Leggett & Platt during the first quarter worth about $4,203,000. Finally, Quantbot Technologies LP increased its stake in shares of Leggett & Platt by 1,109.0% in the second quarter. Quantbot Technologies LP now owns 238,515 shares of the company’s stock valued at $2,733,000 after buying an additional 218,786 shares during the period. Institutional investors own 64.23% of the company’s stock.

Wall Street Analyst Weigh In

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

Leggett & Platt Stock Performance

Shares of Leggett & Platt stock opened at $11.66 on Friday. The company has a market cap of $1.57 billion, a PE ratio of -1.95 and a beta of 1.07. 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, Incorporated has a 52 week low of $10.11 and a 52 week high of $27.58. The business has a 50 day moving average price of $12.69 and a 200-day moving average price of $12.28.

Leggett & Platt (NYSE:LEG) last posted its earnings results on Monday, October 28th. The company reported $0.32 earnings per share (EPS) 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 firm had revenue of $1.10 billion during the quarter, compared to the consensus estimate of $1.10 billion. During the same quarter in the previous year, the company earned $0.36 EPS. The business’s revenue was down 6.3% compared to the same quarter last year. Equities analysts anticipate that Leggett & Platt, Incorporated will post 1.05 earnings per share for the current fiscal year.

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.