Leggett & Platt, Incorporated $LEG Shares Sold by AlphaQuest LLC

AlphaQuest LLC trimmed its stake in shares of Leggett & Platt, Incorporated (NYSE:LEG) by 87.7% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 8,488 shares of the company’s stock after selling 60,360 shares during the period. AlphaQuest LLC’s holdings in Leggett & Platt were worth $76,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of LEG. State of Wyoming purchased a new position in Leggett & Platt in the 1st quarter valued at about $89,000. SeaCrest Wealth Management LLC purchased a new position in shares of Leggett & Platt in the second quarter valued at approximately $89,000. Chicago Partners Investment Group LLC purchased a new position in shares of Leggett & Platt in the second quarter valued at approximately $97,000. Signaturefd LLC boosted its stake in shares of Leggett & Platt by 344.5% in the second quarter. Signaturefd LLC now owns 11,072 shares of the company’s stock worth $99,000 after acquiring an additional 8,581 shares during the last quarter. Finally, Parallel Advisors LLC boosted its stake in shares of Leggett & Platt by 385.3% in the second quarter. Parallel Advisors LLC now owns 11,229 shares of the company’s stock worth $100,000 after acquiring an additional 8,915 shares during the last quarter. Hedge funds and other institutional investors own 64.23% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently commented on LEG. Wall Street Zen downgraded Leggett & Platt from a “buy” rating to a “hold” rating in a research note on Saturday, August 2nd. The Goldman Sachs Group reaffirmed a “neutral” rating and set a $11.00 target price on shares of Leggett & Platt in a report on Wednesday, October 29th. Zacks Research raised shares of Leggett & Platt from a “strong sell” rating to a “hold” rating in a research note on Wednesday, October 8th. Truist Financial boosted their price target on shares of Leggett & Platt from $10.00 to $12.00 and gave the stock a “hold” rating in a research report on Wednesday, October 29th. Finally, Weiss Ratings reaffirmed a “sell (d)” rating on shares of Leggett & Platt in a research note on Wednesday, October 8th. Four investment analysts have rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, Leggett & Platt presently has an average rating of “Reduce” and a consensus target price of $11.00.

Leggett & Platt Trading Down 1.3%

Shares of Leggett & Platt stock opened at $8.80 on Thursday. The stock has a 50 day moving average of $9.24 and a 200 day moving average of $9.25. The company has a debt-to-equity ratio of 1.54, a quick ratio of 1.36 and a current ratio of 2.15. The firm has a market capitalization of $1.19 billion, a price-to-earnings ratio of 5.46 and a beta of 0.74. Leggett & Platt, Incorporated has a fifty-two week low of $6.47 and a fifty-two week high of $13.20.

Leggett & Platt (NYSE:LEG) last released its quarterly earnings results on Monday, October 27th. The company reported $0.29 earnings per share for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.01). The business had revenue of $1.04 billion for the quarter, compared to analysts’ expectations of $1.02 billion. Leggett & Platt had a return on equity of 16.27% and a net margin of 5.38%.The business’s revenue for the quarter was down 5.9% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.32 earnings per share. Leggett & Platt has set its FY 2025 guidance at 1.000-1.100 EPS. As a group, research analysts predict that Leggett & Platt, Incorporated will post 1.14 earnings per share for the current year.

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.