NN Investment Partners Holdings N.V. purchased a new position in shares of Leggett & Platt, Inc. (NYSE:LEG) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 12,546 shares of the company’s stock, valued at approximately $550,000.
A number of other institutional investors have also recently added to or reduced their stakes in the stock. Epoch Investment Partners Inc. increased its stake in Leggett & Platt by 20.6% during the 2nd quarter. Epoch Investment Partners Inc. now owns 3,597,884 shares of the company’s stock worth $160,610,000 after buying an additional 614,419 shares during the period. Charles Schwab Investment Advisory Inc. purchased a new stake in Leggett & Platt during the 2nd quarter worth $120,882,000. Villere ST Denis J & Co. LLC increased its stake in Leggett & Platt by 2.7% during the 2nd quarter. Villere ST Denis J & Co. LLC now owns 1,583,989 shares of the company’s stock worth $70,709,000 after buying an additional 41,050 shares during the period. Raymond James & Associates increased its stake in Leggett & Platt by 16.9% during the 2nd quarter. Raymond James & Associates now owns 1,562,298 shares of the company’s stock worth $69,741,000 after buying an additional 225,307 shares during the period. Finally, Dimensional Fund Advisors LP increased its stake in Leggett & Platt by 11.0% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,148,689 shares of the company’s stock worth $51,277,000 after buying an additional 113,801 shares during the period. 76.96% of the stock is currently owned by hedge funds and other institutional investors.
In other news, insider Matthew C. Flanigan sold 15,672 shares of Leggett & Platt stock in a transaction dated Thursday, August 23rd. The shares were sold at an average price of $46.00, for a total value of $720,912.00. Following the completion of the transaction, the insider now directly owns 116,341 shares of the company’s stock, valued at approximately $5,351,686. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 1.52% of the company’s stock.
Leggett & Platt (NYSE:LEG) last announced its quarterly earnings data on Thursday, October 25th. The company reported $0.67 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.72 by ($0.05). The company had revenue of $1.09 billion for the quarter, compared to analyst estimates of $1.10 billion. Leggett & Platt had a return on equity of 28.37% and a net margin of 6.87%. Equities analysts forecast that Leggett & Platt, Inc. will post 2.44 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 15th. Shareholders of record on Friday, December 14th will be issued a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a yield of 4.05%. The ex-dividend date is Thursday, December 13th. Leggett & Platt’s dividend payout ratio is currently 61.79%.
Several research analysts have weighed in on LEG shares. ValuEngine raised shares of Leggett & Platt from a “sell” rating to a “hold” rating in a report on Wednesday, August 22nd. Zacks Investment Research raised shares of Leggett & Platt from a “sell” rating to a “hold” rating in a report on Friday, August 24th. Raymond James lowered shares of Leggett & Platt from a “strong-buy” rating to an “outperform” rating and set a $44.00 price objective for the company. in a report on Monday, October 29th. TheStreet lowered shares of Leggett & Platt from a “b-” rating to a “c+” rating in a report on Friday, October 26th. Finally, SunTrust Banks decreased their price objective on shares of Leggett & Platt to $40.00 and set an “outperform” rating for the company in a report on Tuesday, October 30th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and four have issued a buy rating to the company. Leggett & Platt currently has an average rating of “Hold” and a consensus target price of $46.17.
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About Leggett & Platt
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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