Qsemble Capital Management LP Takes Position in Leggett & Platt, Incorporated (NYSE:LEG)

Qsemble Capital Management LP purchased a new stake in shares of Leggett & Platt, Incorporated (NYSE:LEG) in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund purchased 27,275 shares of the company’s stock, valued at approximately $371,000.

Several other institutional investors have also made changes to their positions in the company. Pacer Advisors Inc. lifted its holdings in shares of Leggett & Platt by 426.2% during the 2nd quarter. Pacer Advisors Inc. now owns 14,042,134 shares of the company’s stock valued at $160,923,000 after buying an additional 11,373,507 shares during the last quarter. AQR Capital Management LLC lifted 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 during the last quarter. Principal Financial Group Inc. lifted its holdings in Leggett & Platt by 31.0% in the 2nd quarter. Principal Financial Group Inc. now owns 658,117 shares of the company’s stock worth $7,542,000 after purchasing an additional 155,860 shares during the last quarter. Public Sector Pension Investment Board acquired a new stake in Leggett & Platt in the 2nd quarter worth approximately $3,380,000. Finally, V2 Financial group LLC lifted its holdings in Leggett & Platt by 45.7% in the 2nd quarter. V2 Financial group LLC now owns 249,323 shares of the company’s stock worth $2,857,000 after purchasing an additional 78,248 shares during the last quarter. 64.23% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms recently weighed in on LEG. StockNews.com upgraded Leggett & Platt from a “sell” rating to a “hold” rating in a report on Wednesday, August 28th. Piper Sandler upgraded Leggett & Platt from an “underweight” rating to a “neutral” rating and boosted their target price for the stock from $11.00 to $13.00 in a report on Wednesday, October 30th. Finally, Truist Financial lifted their price target on 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.com, the stock presently has a consensus rating of “Hold” and an average target price of $12.67.

Leggett & Platt Stock Performance

Shares of NYSE LEG opened at $12.58 on Thursday. The company has a quick ratio of 0.84, a current ratio of 1.48 and a debt-to-equity ratio of 2.13. The business’s 50 day moving average is $12.67 and its two-hundred day moving average is $12.25. The company has a market cap of $1.69 billion, a P/E ratio of -2.09 and a beta of 1.07. Leggett & Platt, Incorporated has a 12 month low of $10.11 and a 12 month high of $27.58.

Leggett & Platt (NYSE:LEG) last issued its quarterly earnings results on Monday, October 28th. The company reported $0.32 EPS for the quarter, missing the consensus estimate of $0.33 by ($0.01). The business had revenue of $1.10 billion during 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%. The business’s quarterly revenue was down 6.3% on a year-over-year basis. During the same period in the prior year, the firm earned $0.36 earnings per share. On average, equities analysts expect that Leggett & Platt, Incorporated will post 1.05 EPS for the current year.

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.