Cambridge Investment Research Advisors Inc. Sells 11,424 Shares of Leggett & Platt, Inc. (NYSE:LEG)

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Cambridge Investment Research Advisors Inc. reduced its stake in Leggett & Platt, Inc. (NYSE:LEG) by 23.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 37,017 shares of the company’s stock after selling 11,424 shares during the period. Cambridge Investment Research Advisors Inc.’s holdings in Leggett & Platt were worth $1,882,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Quest Capital Management Inc. ADV bought a new position in Leggett & Platt in the third quarter worth about $27,000. Penserra Capital Management LLC grew its holdings in Leggett & Platt by 25.0% in the third quarter. Penserra Capital Management LLC now owns 1,280 shares of the company’s stock worth $52,000 after purchasing an additional 256 shares during the period. Thor Advisors LLC purchased a new stake in Leggett & Platt in the third quarter worth about $120,000. Benjamin Edwards Inc. grew its holdings in Leggett & Platt by 38.4% in the third quarter. Benjamin Edwards Inc. now owns 3,040 shares of the company’s stock worth $124,000 after purchasing an additional 843 shares during the period. Finally, Duncker Streett & Co. Inc. purchased a new stake in Leggett & Platt in the fourth quarter worth about $127,000. 77.21% of the stock is owned by institutional investors.

In other news, SVP Russell J. Iorio sold 6,962 shares of the stock in a transaction that occurred on Wednesday, November 27th. The shares were sold at an average price of $53.09, for a total transaction of $369,612.58. Following the sale, the senior vice president now owns 61,446 shares in the company, valued at $3,262,168.14. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Robert Ted Enloe III sold 6,849 shares of the stock in a transaction that occurred on Wednesday, November 27th. The shares were sold at an average price of $52.58, for a total transaction of $360,120.42. Following the sale, the director now owns 39,166 shares in the company, valued at approximately $2,059,348.28. The disclosure for this sale can be found here. Corporate insiders own 1.45% of the company’s stock.

Shares of LEG opened at $45.60 on Friday. The stock has a market cap of $5.91 billion, a PE ratio of 18.46, a price-to-earnings-growth ratio of 1.38 and a beta of 1.12. The company has a debt-to-equity ratio of 1.67, a quick ratio of 0.97 and a current ratio of 1.66. Leggett & Platt, Inc. has a fifty-two week low of $35.35 and a fifty-two week high of $55.42. The firm’s 50-day simple moving average is $49.20 and its two-hundred day simple moving average is $45.91.

Leggett & Platt (NYSE:LEG) last announced its quarterly earnings data on Monday, February 3rd. The company reported $0.68 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.66 by $0.02. The business had revenue of $1.15 billion for the quarter, compared to analysts’ expectations of $1.16 billion. Leggett & Platt had a net margin of 7.02% and a return on equity of 27.79%. The business’s revenue was up 9.4% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.62 earnings per share. Equities research analysts predict that Leggett & Platt, Inc. will post 2.5 EPS for the current year.

A number of equities research analysts have weighed in on LEG shares. CJS Securities cut shares of Leggett & Platt from an “outperform” rating to a “market perform” rating and set a $54.00 price objective on the stock. in a report on Tuesday, December 10th. ValuEngine upgraded shares of Leggett & Platt from a “sell” rating to a “hold” rating in a report on Wednesday, October 30th. Stifel Nicolaus cut shares of Leggett & Platt from a “buy” rating to a “hold” rating and upped their price objective for the stock from $52.00 to $55.00 in a report on Tuesday, November 19th. Goldman Sachs Group started coverage on shares of Leggett & Platt in a report on Friday, December 6th. They issued a “neutral” rating on the stock. Finally, SunTrust Banks cut shares of Leggett & Platt from a “buy” rating to a “hold” rating in a report on Wednesday, October 30th. One analyst has rated the stock with a sell rating and six have given a hold rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $54.50.

Leggett & Platt Company Profile

Leggett & Platt, Incorporated designs and produces various engineered components and products worldwide. It operates through four segments: Residential Products, Furniture Products, Industrial Products, and Specialized Products. The Residential Products segment offers innersprings, wire forms, and machines to shape wire into various types of springs; industrial sewing/finishing machines, conveyor lines, mattress packaging, and glue-drying equipment, as well as quilting machines; and structural fabrics, carpet cushions, and geo components.

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Institutional Ownership by Quarter for Leggett & Platt (NYSE:LEG)

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