FDx Advisors Inc. increased its stake in shares of Leggett & Platt, Inc. (NYSE:LEG) by 22.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 26,965 shares of the company’s stock after acquiring an additional 4,856 shares during the period. FDx Advisors Inc.’s holdings in Leggett & Platt were worth $1,287,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors also recently bought and sold shares of LEG. TimesSquare Capital Management LLC purchased a new position in Leggett & Platt during the third quarter worth approximately $81,509,000. Bank of New York Mellon Corp boosted its position in Leggett & Platt by 78.4% during the third quarter. Bank of New York Mellon Corp now owns 2,549,592 shares of the company’s stock worth $121,693,000 after purchasing an additional 1,120,320 shares in the last quarter. Sarasin & Partners LLP boosted its position in Leggett & Platt by 106.0% during the third quarter. Sarasin & Partners LLP now owns 1,212,946 shares of the company’s stock worth $57,894,000 after purchasing an additional 624,208 shares in the last quarter. Becker Capital Management Inc. purchased a new position in Leggett & Platt during the third quarter worth approximately $21,057,000. Finally, BlackRock Inc. boosted its position in Leggett & Platt by 2.6% during the fourth quarter. BlackRock Inc. now owns 12,462,751 shares of the company’s stock worth $594,849,000 after purchasing an additional 320,930 shares in the last quarter. 69.17% of the stock is currently owned by hedge funds and other institutional investors.
In other news, Director Robert Ted Enloe III sold 5,871 shares of the firm’s stock in a transaction that occurred on Thursday, February 15th. The stock was sold at an average price of $45.15, for a total value of $265,075.65. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP Scott S. Douglas sold 10,000 shares of the stock in a transaction that occurred on Wednesday, February 7th. The shares were sold at an average price of $47.01, for a total value of $470,100.00. Following the completion of the sale, the senior vice president now directly owns 29,584 shares of the company’s stock, valued at approximately $1,390,743.84. The disclosure for this sale can be found here. In the last 90 days, insiders sold 36,182 shares of company stock worth $1,660,188. Company insiders own 1.78% of the company’s stock.
Leggett & Platt (NYSE:LEG) last released its earnings results on Monday, February 5th. The company reported $0.59 earnings per share for the quarter, missing the consensus estimate of $0.61 by ($0.02). The firm had revenue of $984.00 million during the quarter, compared to analysts’ expectations of $998.32 million. Leggett & Platt had a net margin of 7.42% and a return on equity of 29.44%. The business’s revenue was up 8.9% compared to the same quarter last year. During the same quarter last year, the business earned $0.53 EPS. sell-side analysts expect that Leggett & Platt, Inc. will post 2.75 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, April 13th. Stockholders of record on Thursday, March 15th will be given a $0.36 dividend. The ex-dividend date is Wednesday, March 14th. This represents a $1.44 annualized dividend and a dividend yield of 3.25%. Leggett & Platt’s dividend payout ratio (DPR) is presently 67.61%.
A number of equities analysts have issued reports on LEG shares. Piper Jaffray Companies reiterated a “hold” rating and set a $48.00 price target on shares of Leggett & Platt in a research report on Tuesday, January 23rd. Zacks Investment Research upgraded Leggett & Platt from a “hold” rating to a “buy” rating and set a $54.00 target price on the stock in a research report on Wednesday, January 10th. Finally, Gabelli upgraded Leggett & Platt from a “hold” rating to a “buy” rating in a research report on Wednesday, February 7th. One analyst has rated the stock with a sell rating, three have issued a hold rating and four have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $54.57.
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Leggett & Platt Profile
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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