Legato Capital Management LLC Cuts Stock Position in Leggett & Platt, Incorporated (NYSE:LEG)

Legato Capital Management LLC lessened its stake in Leggett & Platt, Incorporated (NYSE:LEG) by 61.3% in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 28,736 shares of the company’s stock after selling 45,602 shares during the quarter. Legato Capital Management LLC’s holdings in Leggett & Platt were worth $276,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Allspring Global Investments Holdings LLC increased its holdings in Leggett & Platt by 76.3% in the 3rd 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. Point72 Asia Singapore Pte. Ltd. purchased a new stake in Leggett & Platt in the 3rd quarter worth $29,000. Bleakley Financial Group LLC increased its holdings in Leggett & Platt by 8.1% in the 3rd quarter. Bleakley Financial Group LLC now owns 33,352 shares of the company’s stock worth $454,000 after acquiring an additional 2,501 shares in the last quarter. Point72 Hong Kong Ltd purchased a new stake in Leggett & Platt in the 3rd quarter worth $37,000. Finally, nVerses Capital LLC purchased a new stake in Leggett & Platt in the 3rd quarter worth $41,000. Hedge funds and other institutional investors own 64.23% of the company’s stock.

Leggett & Platt Trading Up 4.0 %

Shares of LEG opened at $10.41 on Friday. 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 12-month low of $9.18 and a 12-month high of $21.03. The firm has a 50-day moving average price of $10.32 and a 200 day moving average price of $11.78. The firm has a market capitalization of $1.40 billion, a P/E ratio of -1.73 and a beta of 1.12.

Leggett & Platt (NYSE:LEG) last announced its quarterly earnings data on Thursday, February 13th. The company reported $0.21 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.21. Leggett & Platt had a negative net margin of 18.53% and a positive return on equity of 14.99%. Sell-side analysts forecast that Leggett & Platt, Incorporated will post 1.05 EPS for the current year.

Analyst Ratings Changes

Several equities research analysts recently commented on LEG shares. Truist Financial cut their price target on shares of Leggett & Platt from $13.00 to $11.00 and set a “hold” rating for the company in a report on Wednesday, January 29th. The Goldman Sachs Group dropped their target price on shares of Leggett & Platt from $14.00 to $12.00 and set a “neutral” rating for the company in a report on Tuesday, January 14th. Finally, Piper Sandler raised shares of Leggett & Platt from an “underweight” rating to a “neutral” rating and upped their target price for the stock from $11.00 to $13.00 in a report on Wednesday, October 30th. Four equities research analysts have rated the stock with a hold rating, Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $12.00.

Leggett & Platt Profile

Leggett & Platt, Inc engages in the manufacture and distribution of furniture and engineered components and products among homes, offices, automobiles, and commercial aircraft. It operates through the following segments: Bedding Products, Specialized Products, and Furniture, Flooring & Textile Products.