Wealth Enhancement Advisory Services LLC Grows Stock Holdings in Leggett & Platt, Incorporated (NYSE:LEG)

Wealth Enhancement Advisory Services LLC lifted its position in shares of Leggett & Platt, Incorporated (NYSE:LEG) by 148.4% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 39,227 shares of the company’s stock after purchasing an additional 23,438 shares during the period. Wealth Enhancement Advisory Services LLC’s holdings in Leggett & Platt were worth $534,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the business. Mirae Asset Global Investments Co. Ltd. boosted its holdings in Leggett & Platt by 9.3% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 81,730 shares of the company’s stock valued at $1,154,000 after acquiring an additional 6,955 shares in the last quarter. Ballentine Partners LLC bought a new position in Leggett & Platt in the third quarter worth about $251,000. Sequoia Financial Advisors LLC lifted its holdings in Leggett & Platt by 34.1% in the third quarter. Sequoia Financial Advisors LLC now owns 13,925 shares of the company’s stock worth $190,000 after buying an additional 3,542 shares during the period. Everence Capital Management Inc. purchased a new stake in Leggett & Platt in the third quarter worth about $297,000. Finally, Allspring Global Investments Holdings LLC boosted its position in Leggett & Platt by 76.3% during the 3rd 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 in the last quarter. 64.23% of the stock is owned by institutional investors.

Leggett & Platt Stock Performance

Shares of NYSE:LEG opened at $12.14 on Friday. The firm’s 50 day simple moving average is $12.73 and its two-hundred day simple moving average is $12.58. The company has a quick ratio of 0.84, a current ratio of 1.48 and a debt-to-equity ratio of 2.13. Leggett & Platt, Incorporated has a 1-year low of $10.11 and a 1-year high of $27.58.

Leggett & Platt (NYSE:LEG) last issued its earnings results on Monday, October 28th. The company reported $0.32 earnings per share 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 positive return on equity of 14.99% and a negative net margin of 18.53%. The company’s quarterly revenue was down 6.3% on a year-over-year basis. During the same period in the prior year, the company posted $0.36 EPS. On average, research analysts anticipate that Leggett & Platt, Incorporated will post 1.04 EPS for the current year.

Wall Street Analyst Weigh In

LEG has been the topic of several recent analyst reports. Truist Financial increased their price objective on Leggett & Platt from $11.00 to $13.00 and gave the company a “hold” rating in a research report on Monday, August 5th. StockNews.com raised Leggett & Platt from a “sell” rating to a “hold” rating in a research report on Wednesday, August 28th. Finally, Piper Sandler raised shares of Leggett & Platt from an “underweight” rating to a “neutral” rating and upped their price target for the company from $11.00 to $13.00 in a research report on Wednesday, October 30th. Four equities research analysts have rated the stock with a hold rating, According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $12.67.

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.