Naples Global Advisors LLC increased its position in Leggett & Platt, Inc. (NYSE:LEG) by 1.1% during the first quarter, Holdings Channel reports. The fund owned 28,753 shares of the company’s stock after buying an additional 318 shares during the period. Naples Global Advisors LLC’s holdings in Leggett & Platt were worth $1,447,000 as of its most recent SEC filing.
Several other hedge funds also recently modified their holdings of LEG. Huntington National Bank increased its stake in shares of Leggett & Platt by 0.8% in the first quarter. Huntington National Bank now owns 9,101 shares of the company’s stock worth $458,000 after buying an additional 69 shares during the last quarter. NewSquare Capital LLC increased its stake in shares of Leggett & Platt by 21.9% in the first quarter. NewSquare Capital LLC now owns 12,420 shares of the company’s stock worth $625,000 after buying an additional 2,228 shares during the last quarter. DnB Asset Management AS bought a new stake in shares of Leggett & Platt during the first quarter worth approximately $532,000. Reilly Financial Advisors LLC increased its stake in shares of Leggett & Platt by 13.0% in the first quarter. Reilly Financial Advisors LLC now owns 22,135 shares of the company’s stock worth $1,114,000 after buying an additional 2,545 shares during the last quarter. Finally, Pinnacle Bank bought a new stake in shares of Leggett & Platt during the first quarter worth approximately $122,000. Hedge funds and other institutional investors own 69.01% of the company’s stock.
Shares of Leggett & Platt, Inc. (NYSE:LEG) traded up 0.48% during trading on Friday, reaching $52.47. The company’s stock had a trading volume of 811,928 shares. The firm has a market capitalization of $7.12 billion, a P/E ratio of 19.04 and a beta of 1.02. Leggett & Platt, Inc. has a 52 week low of $44.02 and a 52 week high of $54.62. The company has a 50 day moving average price of $50.21 and a 200 day moving average price of $48.47.
Leggett & Platt (NYSE:LEG) last issued its quarterly earnings data on Monday, January 30th. The company reported $0.53 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.58 by $0.05. Leggett & Platt had a return on equity of 32.02% and a net margin of 10.29%. The company had revenue of $903.70 million for the quarter, compared to analyst estimates of $921.94 million. During the same quarter in the prior year, the firm earned $0.64 earnings per share. The company’s revenue for the quarter was down 4.3% on a year-over-year basis. On average, equities research analysts expect that Leggett & Platt, Inc. will post $2.63 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, April 13th. Investors of record on Wednesday, March 15th were given a dividend of $0.34 per share. The ex-dividend date was Monday, March 13th. This represents a $1.36 annualized dividend and a dividend yield of 2.59%. Leggett & Platt’s dividend payout ratio is currently 49.28%.
A number of brokerages have issued reports on LEG. Zacks Investment Research upgraded Leggett & Platt from a “sell” rating to a “hold” rating in a research report on Monday, January 9th. Raymond James Financial, Inc. upgraded Leggett & Platt from a “market perform” rating to a “strong-buy” rating and set a $54.00 price target on the stock in a research report on Wednesday, February 1st. Finally, Stifel Nicolaus increased their price target on Leggett & Platt from $48.00 to $52.00 and gave the stock a “hold” rating in a research report on Monday, April 3rd. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and one has given a strong buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $54.25.
In related news, insider Karl G. Glassman sold 79,772 shares of Leggett & Platt stock in a transaction that occurred on Monday, February 6th. The stock was sold at an average price of $48.74, for a total transaction of $3,888,087.28. Following the completion of the transaction, the insider now directly owns 416,860 shares in the company, valued at approximately $20,317,756.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP David M. Desonier sold 6,490 shares of Leggett & Platt stock in a transaction that occurred on Tuesday, February 7th. The stock was sold at an average price of $48.68, for a total value of $315,933.20. Following the transaction, the senior vice president now owns 74,693 shares of the company’s stock, valued at $3,636,055.24. The disclosure for this sale can be found here. Insiders have sold a total of 188,150 shares of company stock valued at $9,165,661 over the last 90 days. Insiders own 3.92% of the company’s stock.
About Leggett & Platt
Leggett & Platt, Incorporated is a manufacturer that conceives, designs and produces a range of engineered components and products found in homes, offices and automobiles. The Company operates in four segments: Residential Furnishings, Commercial Products, Industrial Materials and Specialized Products.
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