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

Allianz Asset Management GmbH raised its position in shares of Leggett & Platt, Incorporated (NYSE:LEG) by 61.6% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 1,097,186 shares of the company’s stock after acquiring an additional 418,118 shares during the period. Allianz Asset Management GmbH’s holdings in Leggett & Platt were worth $9,743,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in LEG. Quent Capital LLC purchased a new position in shares of Leggett & Platt in the 3rd quarter valued at approximately $34,000. Nisa Investment Advisors LLC bought a new position in Leggett & Platt in the second quarter worth $76,000. HM Payson & Co. purchased a new position in Leggett & Platt during the third quarter valued at $89,000. Captrust Financial Advisors bought a new stake in shares of Leggett & Platt during the 2nd quarter valued at $91,000. Finally, Aaron Wealth Advisors LLC purchased a new stake in shares of Leggett & Platt in the 3rd quarter worth about $92,000. Institutional investors own 64.23% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently commented on the stock. Truist Financial boosted their price objective on shares of Leggett & Platt from $10.00 to $12.00 and gave the stock a “hold” rating in a research note on Wednesday, October 29th. Piper Sandler boosted their price target on Leggett & Platt from $10.00 to $12.00 and gave the stock a “neutral” rating in a research report on Thursday, December 11th. Zacks Research downgraded Leggett & Platt from a “strong-buy” rating to a “hold” rating in a research note on Friday, December 5th. Weiss Ratings reiterated a “hold (c-)” rating on shares of Leggett & Platt in a research note on Monday, December 29th. Finally, The Goldman Sachs Group reissued a “neutral” rating and issued a $11.00 target price on shares of Leggett & Platt in a report on Wednesday, October 29th. Five research analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, Leggett & Platt presently has an average rating of “Hold” and a consensus price target of $11.67.

Leggett & Platt Price Performance

Shares of LEG opened at $12.89 on Monday. Leggett & Platt, Incorporated has a twelve month low of $6.47 and a twelve month high of $13.00. The company has a market capitalization of $1.75 billion, a P/E ratio of 8.01 and a beta of 0.72. The firm has a 50 day moving average of $11.72 and a 200 day moving average of $10.12. The company has a quick ratio of 1.35, a current ratio of 2.15 and a debt-to-equity ratio of 1.54.

Leggett & Platt Profile

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.