South Dakota Investment Council Acquires 55,427 Shares of Leggett & Platt, Incorporated (NYSE:LEG)

South Dakota Investment Council lifted its holdings in Leggett & Platt, Incorporated (NYSE:LEG) by 12.6% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 496,078 shares of the company’s stock after buying an additional 55,427 shares during the quarter. South Dakota Investment Council owned about 0.37% of Leggett & Platt worth $4,762,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the business. State Street Corp raised its holdings in shares of Leggett & Platt by 0.6% in the third quarter. State Street Corp now owns 4,437,066 shares of the company’s stock valued at $60,657,000 after buying an additional 27,693 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of Leggett & Platt by 2.9% in the third quarter. Geode Capital Management LLC now owns 2,156,322 shares of the company’s stock valued at $29,377,000 after buying an additional 60,166 shares during the last quarter. Wellington Management Group LLP bought a new position in shares of Leggett & Platt in the third quarter valued at about $15,735,000. Invenomic Capital Management LP raised its holdings in shares of Leggett & Platt by 384.1% in the third quarter. Invenomic Capital Management LP now owns 921,472 shares of the company’s stock valued at $12,550,000 after buying an additional 731,132 shares during the last quarter. Finally, FMR LLC raised its holdings in shares of Leggett & Platt by 3,264.5% in the third quarter. FMR LLC now owns 692,884 shares of the company’s stock valued at $9,437,000 after buying an additional 672,290 shares during the last quarter. 64.23% of the stock is owned by institutional investors.

Leggett & Platt Price Performance

Shares of LEG stock opened at $9.54 on Monday. The stock has a 50-day moving average price of $10.15 and a 200 day moving average price of $11.66. The company has a quick ratio of 1.14, a current ratio of 2.00 and a debt-to-equity ratio of 2.70. The firm has a market cap of $1.28 billion, a price-to-earnings ratio of -2.56 and a beta of 1.12. Leggett & Platt, Incorporated has a 12 month low of $9.18 and a 12 month high of $21.03.

Leggett & Platt (NYSE:LEG) last posted its earnings results on Thursday, February 13th. The company reported $0.21 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.21. The company had revenue of $1.06 billion during the quarter, compared to analyst estimates of $1.03 billion. Leggett & Platt had a positive return on equity of 17.09% and a negative net margin of 11.67%. Research analysts expect that Leggett & Platt, Incorporated will post 1.14 EPS for the current year.

Wall Street Analysts Forecast Growth

LEG has been the subject of a number of research analyst reports. Piper Sandler raised Leggett & Platt from an “underweight” rating to a “neutral” rating and lifted their price target for the company from $11.00 to $13.00 in a report on Wednesday, October 30th. Truist Financial lowered their price objective on Leggett & Platt from $13.00 to $11.00 and set a “hold” rating for the company in a research report on Wednesday, January 29th. Finally, The Goldman Sachs Group lowered their price objective on Leggett & Platt from $14.00 to $12.00 and set a “neutral” rating for the company in a research report on Tuesday, January 14th. Four investment analysts have rated the stock with a hold rating, Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus 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.