Allianz Asset Management GmbH Buys 418,118 Shares of Leggett & Platt, Incorporated $LEG

Allianz Asset Management GmbH raised its stake in Leggett & Platt, Incorporated (NYSE:LEG) by 61.6% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,097,186 shares of the company’s stock after buying an additional 418,118 shares during the period. Allianz Asset Management GmbH owned about 0.81% of Leggett & Platt worth $9,743,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in LEG. Royal Bank of Canada increased its stake in Leggett & Platt by 59.5% in the first quarter. Royal Bank of Canada now owns 47,054 shares of the company’s stock valued at $372,000 after acquiring an additional 17,561 shares during the last quarter. Jones Financial Companies Lllp boosted its holdings in shares of Leggett & Platt by 8.4% in the 1st quarter. Jones Financial Companies Lllp now owns 14,661 shares of the company’s stock worth $116,000 after purchasing an additional 1,132 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in shares of Leggett & Platt by 3.0% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 454,096 shares of the company’s stock worth $3,592,000 after purchasing an additional 13,187 shares in the last quarter. Jane Street Group LLC increased its position in shares of Leggett & Platt by 36.3% during the 1st quarter. Jane Street Group LLC now owns 1,175,452 shares of the company’s stock valued at $9,298,000 after purchasing an additional 312,840 shares during the last quarter. Finally, Acadian Asset Management LLC raised its holdings in shares of Leggett & Platt by 113.5% during the 1st quarter. Acadian Asset Management LLC now owns 109,638 shares of the company’s stock valued at $866,000 after buying an additional 58,292 shares in the last quarter. Hedge funds and other institutional investors own 64.23% of the company’s stock.

Analyst Ratings Changes

LEG has been the subject of several research reports. Zacks Research lowered Leggett & Platt from a “strong-buy” rating to a “hold” rating in a research note on Friday, December 5th. The Goldman Sachs Group reaffirmed a “neutral” rating and issued a $11.00 price objective on shares of Leggett & Platt in a research note on Wednesday, October 29th. Truist Financial increased their target price 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. Weiss Ratings reissued a “hold (c-)” rating on shares of Leggett & Platt in a research note on Monday, December 29th. Finally, Wall Street Zen raised Leggett & Platt from a “hold” rating to a “buy” rating in a research note on Saturday. Five analysts have rated the stock with a Hold rating, According to data from MarketBeat, Leggett & Platt presently has an average rating of “Hold” and a consensus target price of $11.67.

Leggett & Platt Stock Up 1.6%

NYSE LEG opened at $12.89 on Monday. Leggett & Platt, Incorporated has a 1 year low of $6.47 and a 1 year high of $13.00. The stock has a market capitalization of $1.75 billion, a PE ratio of 8.01 and a beta of 0.72. The company has a debt-to-equity ratio of 1.54, a current ratio of 2.15 and a quick ratio of 1.35. The business’s 50-day moving average is $11.72 and its 200 day moving average is $10.12.

About Leggett & Platt

Leggett & Platt, Inc is a diversified manufacturer specializing in the design, engineering and production of a wide range of engineered components and products. The company’s offerings span several end markets, including residential bedding, commercial and residential furniture, automotive seating and interiors, aerospace applications and industrial products. By integrating product design with proprietary manufacturing processes, Leggett & Platt serves as a key supplier to both original equipment manufacturers and aftermarket distributors.

The company’s core product lines include coil springs and support systems for mattresses and furniture, adjustable bed mechanisms, engineered components such as extruded and formed metal products, and specialty foam and bedding products.