Epoch Investment Partners Inc. decreased its position in shares of Leggett & Platt, Incorporated (NYSE:LEG) by 24.1% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,620,322 shares of the company’s stock after selling 513,560 shares during the period. Epoch Investment Partners Inc. owned 1.22% of Leggett & Platt worth $83,949,000 at the end of the most recent quarter.
Other large investors have also recently made changes to their positions in the company. Healthcare of Ontario Pension Plan Trust Fund bought a new stake in Leggett & Platt during the first quarter worth approximately $26,000. Stonebridge Capital Advisors LLC bought a new stake in Leggett & Platt during the first quarter worth approximately $28,000. Alpha Paradigm Partners LLC bought a new stake in Leggett & Platt during the second quarter worth approximately $30,000. AGF Investments LLC raised its holdings in Leggett & Platt by 293.5% during the first quarter. AGF Investments LLC now owns 732 shares of the company’s stock worth $33,000 after purchasing an additional 546 shares in the last quarter. Finally, San Francisco Sentry Investment Group CA raised its holdings in Leggett & Platt by 950.0% during the second quarter. San Francisco Sentry Investment Group CA now owns 630 shares of the company’s stock worth $33,000 after purchasing an additional 570 shares in the last quarter. 72.89% of the stock is currently owned by hedge funds and other institutional investors.
Leggett & Platt stock traded up $0.87 during mid-day trading on Thursday, hitting $45.35. The company’s stock had a trading volume of 4,141 shares, compared to its average volume of 823,816. The company has a quick ratio of 0.90, a current ratio of 1.71 and a debt-to-equity ratio of 1.29. The stock has a market capitalization of $6.05 billion, a P/E ratio of 15.01 and a beta of 1.48. Leggett & Platt, Incorporated has a twelve month low of $39.25 and a twelve month high of $59.16. The stock’s fifty day moving average price is $47.19 and its two-hundred day moving average price is $49.69.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 15th. Shareholders of record on Wednesday, September 15th will be given a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a yield of 3.70%. The ex-dividend date is Tuesday, September 14th. Leggett & Platt’s payout ratio is 78.87%.
Separately, Zacks Investment Research raised Leggett & Platt from a “hold” rating to a “buy” rating and set a $50.00 target price on the stock in a report on Thursday, August 5th. One analyst has rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average target price of $51.00.
Leggett & Platt Profile
Leggett & Platt, Inc engages in the manufacture and distribution of furniture and engineered components; and products among homes, offices, automobiles, and commercial aircraft. It operates through the following segments: Bedding, Flooring, Furniture & Textile, and Specialized Products. The Bedding Products segment supplies of products and components for the home, including mattress springs and specialty foam, as well as adjustable beds, bedding machinery, steel rod, and drawn wire.
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