Teachers Advisors LLC Has $7.60 Million Holdings in Leggett & Platt, Inc. (LEG)

Teachers Advisors LLC cut its stake in Leggett & Platt, Inc. (NYSE:LEG) by 1.4% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 173,504 shares of the company’s stock after selling 2,484 shares during the period. Teachers Advisors LLC owned 0.13% of Leggett & Platt worth $7,598,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of the business. Hexavest Inc. increased its holdings in shares of Leggett & Platt by 25.5% during the third quarter. Hexavest Inc. now owns 6,124 shares of the company’s stock valued at $268,000 after purchasing an additional 1,245 shares during the period. Verity & Verity LLC increased its holdings in shares of Leggett & Platt by 2.2% during the third quarter. Verity & Verity LLC now owns 61,044 shares of the company’s stock valued at $2,673,000 after purchasing an additional 1,296 shares during the period. Andesa Financial Management Inc. increased its holdings in shares of Leggett & Platt by 4.8% during the second quarter. Andesa Financial Management Inc. now owns 29,695 shares of the company’s stock valued at $1,326,000 after purchasing an additional 1,355 shares during the period. GSA Capital Partners LLP increased its holdings in shares of Leggett & Platt by 12.0% during the third quarter. GSA Capital Partners LLP now owns 12,649 shares of the company’s stock valued at $554,000 after purchasing an additional 1,360 shares during the period. Finally, OppenheimerFunds Inc. increased its holdings in shares of Leggett & Platt by 18.0% during the second quarter. OppenheimerFunds Inc. now owns 9,030 shares of the company’s stock valued at $403,000 after purchasing an additional 1,375 shares during the period. 75.63% of the stock is currently owned by hedge funds and other institutional investors.

Shares of LEG stock opened at $38.34 on Monday. The company has a quick ratio of 1.32, a current ratio of 2.12 and a debt-to-equity ratio of 1.16. Leggett & Platt, Inc. has a fifty-two week low of $33.48 and a fifty-two week high of $49.22. The stock has a market cap of $4.94 billion, a P/E ratio of 15.59, a PEG ratio of 1.48 and a beta of 1.01.

Leggett & Platt (NYSE:LEG) last released its quarterly earnings results on Thursday, October 25th. The company reported $0.67 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.72 by ($0.05). Leggett & Platt had a net margin of 6.87% and a return on equity of 28.37%. The company had revenue of $1.09 billion during the quarter, compared to analyst estimates of $1.10 billion. As a group, sell-side analysts predict that Leggett & Platt, Inc. will post 2.44 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Tuesday, January 15th. Investors of record on Friday, December 14th will be given a $0.38 dividend. The ex-dividend date of this dividend is Thursday, December 13th. This represents a $1.52 dividend on an annualized basis and a dividend yield of 3.96%. Leggett & Platt’s dividend payout ratio (DPR) is 61.79%.

A number of brokerages have recently commented on LEG. Raymond James lowered Leggett & Platt from a “strong-buy” rating to an “outperform” rating and set a $44.00 price target on the stock. in a report on Monday, October 29th. Zacks Investment Research raised Leggett & Platt from a “sell” rating to a “hold” rating in a report on Monday, October 1st. ValuEngine lowered Leggett & Platt from a “hold” rating to a “sell” rating in a report on Tuesday, October 2nd. SunTrust Banks lowered their price target on Leggett & Platt to $40.00 and set an “outperform” rating on the stock in a report on Tuesday, October 30th. Finally, TheStreet lowered Leggett & Platt from a “b-” rating to a “c+” rating in a report on Friday, October 26th. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and four have given a buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $46.17.

COPYRIGHT VIOLATION NOTICE: This piece was first published by Community Financial News and is owned by of Community Financial News. If you are accessing this piece on another website, it was stolen and reposted in violation of international copyright & trademark legislation. The correct version of this piece can be read at https://www.com-unik.info/2019/01/14/teachers-advisors-llc-has-7-60-million-holdings-in-leggett-platt-inc-leg.html.

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.

Featured Story: Do investors pay a separate front-end load every time they buy additional shares?

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

Receive News & Ratings for Leggett & Platt Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Leggett & Platt and related companies with MarketBeat.com's FREE daily email newsletter.

Comments

Leave a Reply


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on reddit