Y Intercept Hong Kong Ltd Reduces Holdings in Leggett & Platt, Incorporated $LEG

Y Intercept Hong Kong Ltd decreased its holdings in Leggett & Platt, Incorporated (NYSE:LEG) by 40.9% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 74,033 shares of the company’s stock after selling 51,158 shares during the quarter. Y Intercept Hong Kong Ltd owned 0.05% of Leggett & Platt worth $660,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Envestnet Asset Management Inc. purchased a new position in shares of Leggett & Platt in the second quarter worth approximately $185,000. Nisa Investment Advisors LLC purchased a new position in shares of Leggett & Platt in the second quarter worth approximately $76,000. Ingalls & Snyder LLC purchased a new position in shares of Leggett & Platt in the second quarter worth approximately $152,000. Ethic Inc. purchased a new position in shares of Leggett & Platt in the second quarter worth approximately $111,000. Finally, Chicago Partners Investment Group LLC purchased a new position in shares of Leggett & Platt in the second quarter worth approximately $97,000. Hedge funds and other institutional investors own 64.23% of the company’s stock.

Analyst Upgrades and Downgrades

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

Leggett & Platt Price Performance

LEG stock opened at $8.80 on Thursday. Leggett & Platt, Incorporated has a one year low of $6.47 and a one year high of $13.20. The company’s fifty day moving average price is $9.24 and its 200-day moving average price is $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 company has a market capitalization of $1.19 billion, a PE ratio of 5.46 and a beta of 0.74.

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