Dividend Assets Capital LLC cut its position in Leggett & Platt Inc. (NYSE:LEG) by 1.3% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 22,550 shares of the company’s stock after selling 300 shares during the period. Dividend Assets Capital LLC’s holdings in Leggett & Platt were worth $1,153,000 at the end of the most recent quarter.
Several other institutional investors have also recently bought and sold shares of the company. GW&K Investment Management LLC boosted its position in Leggett & Platt by 6.6% in the second quarter. GW&K Investment Management LLC now owns 524,855 shares of the company’s stock worth $26,825,000 after buying an additional 32,346 shares during the last quarter. Geode Capital Management LLC boosted its position in Leggett & Platt by 1.3% in the first quarter. Geode Capital Management LLC now owns 1,084,978 shares of the company’s stock worth $52,403,000 after buying an additional 13,709 shares during the last quarter. PGGM Investments boosted its position in Leggett & Platt by 378.9% in the second quarter. PGGM Investments now owns 627,027 shares of the company’s stock worth $32,047,000 after buying an additional 496,097 shares during the last quarter. Speece Thorson Capital Group Inc. boosted its position in Leggett & Platt by 1.4% in the second quarter. Speece Thorson Capital Group Inc. now owns 278,985 shares of the company’s stock worth $14,259,000 after buying an additional 3,748 shares during the last quarter. Finally, BlueMountain Capital Management LLC boosted its position in Leggett & Platt by 54.0% in the first quarter. BlueMountain Capital Management LLC now owns 19,691 shares of the company’s stock worth $953,000 after buying an additional 6,907 shares during the last quarter. Hedge funds and other institutional investors own 66.43% of the company’s stock.
Leggett & Platt Inc. (NYSE:LEG) traded down 1.87% during midday trading on Thursday, hitting $45.71. The stock had a trading volume of 1,193,572 shares. The stock’s 50-day moving average is $50.69 and its 200-day moving average is $50.10. The company has a market capitalization of $6.11 billion, a PE ratio of 16.72 and a beta of 0.97. Leggett & Platt Inc. has a 1-year low of $36.64 and a 1-year high of $54.63.
Leggett & Platt (NYSE:LEG) last posted its quarterly earnings results on Thursday, July 28th. The company reported $0.66 EPS for the quarter, beating the consensus estimate of $0.62 by $0.04. Leggett & Platt had a net margin of 10.03% and a return on equity of 33.71%. The company had revenue of $958.90 million for the quarter, compared to analyst estimates of $1,000 million. During the same period in the prior year, the company earned $0.53 earnings per share. The firm’s revenue was down 3.9% on a year-over-year basis. Equities research analysts forecast that Leggett & Platt Inc. will post $2.52 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, October 14th. Shareholders of record on Thursday, September 15th will be issued a $0.34 dividend. This represents a $1.36 annualized dividend and a yield of 2.98%. The ex-dividend date of this dividend is Tuesday, September 13th. Leggett & Platt’s payout ratio is 49.64%.
LEG has been the subject of a number of research reports. Hilliard Lyons cut Leggett & Platt from a “neutral” rating to an “underperform” rating in a report on Friday, July 29th. Raymond James Financial Inc. reiterated a “market perform” rating on shares of Leggett & Platt in a report on Monday, August 1st. Citigroup Inc. cut Leggett & Platt to a “market perform” rating in a report on Monday, August 1st. Finally, Zacks Investment Research raised Leggett & Platt from a “sell” rating to a “hold” rating in a research note on Thursday, August 4th.
In other Leggett & Platt news, insider Dennis S. Park sold 3,000 shares of the company’s stock in a transaction on Thursday, September 1st. The shares were sold at an average price of $52.48, for a total value of $157,440.00. Following the sale, the insider now directly owns 276,697 shares of the company’s stock, valued at $14,521,058.56. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP Scott S. Douglas sold 2,000 shares of the company’s stock in a transaction on Wednesday, August 24th. The shares were sold at an average price of $51.95, for a total transaction of $103,900.00. Following the completion of the sale, the senior vice president now directly owns 38,363 shares in the company, valued at $1,992,957.85. The disclosure for this sale can be found here. 3.92% of the stock is currently owned by company insiders.
Leggett & Platt Company Profile
Leggett & Platt, Incorporated is a manufacturer of engineered components and products found in homes, offices, automobiles and commercial aircraft. The Company operates in four segments: Residential Furnishings, Commercial Products, Industrial Materials and Specialized Products. The Residential Furnishings segment manufactures steel coiled bedsprings.
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