Amalgamated Bank Increases Stake in Leggett & Platt, Incorporated (NYSE:LEG)

Amalgamated Bank raised its holdings in shares of Leggett & Platt, Incorporated (NYSE:LEGFree Report) by 1.2% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 87,874 shares of the company’s stock after buying an additional 1,008 shares during the period. Amalgamated Bank owned about 0.07% of Leggett & Platt worth $2,233,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in LEG. Quent Capital LLC increased its holdings in Leggett & Platt by 133.6% during the third quarter. Quent Capital LLC now owns 1,014 shares of the company’s stock valued at $26,000 after buying an additional 580 shares during the last quarter. Fifth Third Bancorp increased its stake in shares of Leggett & Platt by 135.1% in the second quarter. Fifth Third Bancorp now owns 950 shares of the company’s stock worth $28,000 after purchasing an additional 546 shares in the last quarter. Point72 Asset Management L.P. purchased a new stake in shares of Leggett & Platt in the second quarter worth $28,000. Cullen Frost Bankers Inc. increased its stake in shares of Leggett & Platt by 377.0% in the second quarter. Cullen Frost Bankers Inc. now owns 1,555 shares of the company’s stock worth $46,000 after purchasing an additional 1,229 shares in the last quarter. Finally, Industrial Alliance Investment Management Inc. purchased a new stake in shares of Leggett & Platt in the fourth quarter worth $48,000. 60.26% of the stock is owned by hedge funds and other institutional investors.

Leggett & Platt Price Performance

Shares of NYSE:LEG opened at $20.89 on Tuesday. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.84 and a current ratio of 1.49. The firm has a fifty day moving average price of $24.89 and a 200 day moving average price of $25.39. Leggett & Platt, Incorporated has a fifty-two week low of $20.29 and a fifty-two week high of $35.10. The firm has a market cap of $2.79 billion, a price-to-earnings ratio of -20.89 and a beta of 1.23.

Leggett & Platt (NYSE:LEGGet Free Report) last issued its earnings results on Friday, February 9th. The company reported $0.26 earnings per share for the quarter, missing analysts’ consensus estimates of $0.27 by ($0.01). Leggett & Platt had a positive return on equity of 11.99% and a negative net margin of 2.90%. The company had revenue of $1.12 billion for the quarter, compared to the consensus estimate of $1.11 billion. During the same quarter in the prior year, the company posted $0.39 EPS. Leggett & Platt’s revenue was down 6.7% compared to the same quarter last year. As a group, sell-side analysts expect that Leggett & Platt, Incorporated will post 1.26 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on LEG shares. Truist Financial reduced their price objective on shares of Leggett & Platt from $26.00 to $24.00 and set a “hold” rating for the company in a research note on Wednesday, November 1st. The Goldman Sachs Group reduced their price objective on shares of Leggett & Platt from $27.00 to $24.00 and set a “neutral” rating for the company in a research note on Wednesday, November 1st. Finally, Piper Sandler reduced their price objective on shares of Leggett & Platt from $21.00 to $18.00 and set an “underweight” rating for the company in a research note on Wednesday, November 1st.

Check Out Our Latest Research Report on LEG

Leggett & Platt Company Profile

(Free Report)

Leggett & Platt, Incorporated designs, manufactures, and markets engineered components and products worldwide. It operates through three segments: Bedding Products; Specialized Products; and Furniture, Flooring & Textile Products. The company offers steel rods, drawn wires, foam chemicals and additives, innersprings, private label finished mattresses, wire forms for mattress foundations, adjustable beds, industrial sewing and quilting machines, and mattress packaging and glue drying equipment, as well as machines to produce innersprings for industrial users of steel rods and wires, manufacturers of finished bedding, big box and e-commerce retailers, bedding brands and mattress retailers, department stores, and home improvement centers.

See Also

Institutional Ownership by Quarter for Leggett & Platt (NYSE:LEG)

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