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

Qsemble Capital Management LP acquired a new stake in shares of Leggett & Platt, Incorporated (NYSE:LEG) during the third quarter, HoldingsChannel reports. The firm acquired 27,275 shares of the company’s stock, valued at approximately $371,000.

A number of other institutional investors and hedge funds have also modified their holdings of LEG. 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 valued at $37,000 after acquiring an additional 931 shares during the period. 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 valued at $28,000 after acquiring an additional 884 shares during the period. nVerses Capital LLC bought a new stake in Leggett & Platt in the third quarter valued at $41,000. CVA Family Office LLC bought a new stake in Leggett & Platt in the second quarter valued at $36,000. Finally, 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 valued at $39,000 after acquiring an additional 2,670 shares during the period. 64.23% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

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

Leggett & Platt Stock Performance

Shares of NYSE:LEG opened at $12.58 on Thursday. Leggett & Platt, Incorporated has a twelve month low of $10.11 and a twelve month high of $27.58. The firm has a market cap of $1.69 billion, a PE ratio of -2.09 and a beta of 1.07. The company has a debt-to-equity ratio of 2.13, a quick ratio of 0.84 and a current ratio of 1.48. The business has a fifty day moving average of $12.67 and a 200-day moving average of $12.25.

Leggett & Platt (NYSE:LEG) last posted its quarterly 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). The firm had revenue of $1.10 billion during the quarter, compared to the consensus estimate of $1.10 billion. Leggett & Platt had a negative net margin of 18.53% and a positive return on equity of 14.99%. Leggett & Platt’s revenue was down 6.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.36 EPS. On average, equities research analysts predict that Leggett & Platt, Incorporated will post 1.05 EPS for the current fiscal 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.