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

Legato Capital Management LLC lowered its position in Leggett & Platt, Incorporated (NYSE:LEG) by 61.3% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 28,736 shares of the company’s stock after selling 45,602 shares during the period. Legato Capital Management LLC’s holdings in Leggett & Platt were worth $276,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Allspring Global Investments Holdings LLC grew its position in shares of 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 buying an additional 884 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. purchased a new stake in Leggett & Platt during the 3rd quarter worth approximately $29,000. Point72 Hong Kong Ltd purchased a new stake in Leggett & Platt during the 3rd quarter worth approximately $37,000. nVerses Capital LLC purchased a new stake in Leggett & Platt during the 3rd quarter worth approximately $41,000. Finally, Brooklyn Investment Group purchased a new stake in Leggett & Platt during the 3rd quarter worth approximately $44,000. Hedge funds and other institutional investors own 64.23% of the company’s stock.

Leggett & Platt Stock Performance

Shares of NYSE 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 company has a 50 day simple moving average of $10.32 and a two-hundred day simple moving average of $11.78. The stock has a market cap of $1.40 billion, a price-to-earnings 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 EPS for the quarter, meeting the consensus estimate of $0.21. Leggett & Platt had a negative net margin of 18.53% and a positive return on equity of 14.99%. As a group, analysts predict that Leggett & Platt, Incorporated will post 1.05 earnings per share for the current year.

Wall Street Analysts Forecast Growth

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

Leggett & Platt Company 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.