Commerce Bank Sells 5,632 Shares of Leggett & Platt, Incorporated (NYSE:LEG)

Commerce Bank trimmed its holdings in Leggett & Platt, Incorporated (NYSE:LEG) by 28.0% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 14,493 shares of the company’s stock after selling 5,632 shares during the quarter. Commerce Bank’s holdings in Leggett & Platt were worth $197,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in LEG. Allspring Global Investments Holdings LLC grew 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 acquiring an additional 884 shares in the last quarter. CVA Family Office LLC bought a new stake in Leggett & Platt in the second quarter worth approximately $36,000. Abich Financial Wealth Management LLC grew 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 acquiring an additional 931 shares in the last quarter. Fifth Third Bancorp grew its position in Leggett & Platt by 367.8% in the second quarter. Fifth Third Bancorp now owns 3,396 shares of the company’s stock worth $39,000 after acquiring an additional 2,670 shares in the last quarter. Finally, nVerses Capital LLC bought a new stake in Leggett & Platt in the third quarter worth approximately $41,000. 64.23% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several analysts recently issued reports on LEG shares. StockNews.com raised shares of Leggett & Platt from a “sell” rating to a “hold” rating in a report on Wednesday, August 28th. Truist Financial upped their price objective 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. Finally, Piper Sandler raised shares of Leggett & Platt from an “underweight” rating to a “neutral” rating and upped their price objective for the stock from $11.00 to $13.00 in a report on Wednesday, October 30th. Four investment analysts have rated the stock with a hold rating, Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $12.67.

Leggett & Platt Price Performance

NYSE:LEG opened at $12.58 on Thursday. The company has a 50-day moving average of $12.67 and a 200-day moving average of $12.25. The company has a market capitalization of $1.69 billion, a price-to-earnings ratio of -2.08 and a beta of 1.07. Leggett & Platt, Incorporated has a 52 week low of $10.11 and a 52 week high of $27.58. 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 released 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 business had revenue of $1.10 billion for the quarter, compared to the consensus estimate of $1.10 billion. Leggett & Platt had a positive return on equity of 14.99% and a negative net margin of 18.53%. Leggett & Platt’s revenue was down 6.3% on a year-over-year basis. During the same period in the previous year, the business posted $0.36 earnings per share. As a group, equities research analysts anticipate that Leggett & Platt, Incorporated will post 1.05 earnings per share for the current fiscal 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.