Palisades Hudson Asset Management L.P. bought a new stake in Leggett & Platt, Inc. (NYSE:LEG) during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 5,422 shares of the company’s stock, valued at approximately $229,000.
A number of other institutional investors have also recently made changes to their positions in LEG. Intercontinental Wealth Advisors LLC bought a new position in Leggett & Platt in the fourth quarter valued at approximately $30,000. Legacy Advisors LLC bought a new position in Leggett & Platt in the first quarter valued at approximately $51,000. CSat Investment Advisory L.P. grew its stake in Leggett & Platt by 90.4% in the fourth quarter. CSat Investment Advisory L.P. now owns 1,455 shares of the company’s stock valued at $52,000 after purchasing an additional 691 shares in the last quarter. Pinnacle Bank bought a new position in Leggett & Platt in the fourth quarter valued at approximately $82,000. Finally, Federated Investors Inc. PA bought a new position in Leggett & Platt in the third quarter valued at approximately $113,000. 79.84% of the stock is currently owned by institutional investors and hedge funds.
A number of research analysts have weighed in on LEG shares. TheStreet upgraded Leggett & Platt from a “c+” rating to a “b-” rating in a research note on Friday, March 1st. Gabelli downgraded Leggett & Platt from a “buy” rating to a “hold” rating in a research note on Wednesday, February 6th. Finally, Zacks Investment Research downgraded Leggett & Platt from a “hold” rating to a “sell” rating in a research note on Thursday, February 7th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the stock. Leggett & Platt currently has a consensus rating of “Hold” and an average target price of $45.00.
Shares of NYSE LEG traded up $0.35 during midday trading on Tuesday, hitting $43.19. 36,259 shares of the company’s stock were exchanged, compared to its average volume of 1,064,182. The company has a current ratio of 1.87, a quick ratio of 1.09 and a debt-to-equity ratio of 1.01. Leggett & Platt, Inc. has a 12 month low of $33.48 and a 12 month high of $46.71. The company has a market capitalization of $5.67 billion, a P/E ratio of 17.46, a P/E/G ratio of 1.89 and a beta of 1.09.
Leggett & Platt (NYSE:LEG) last issued its earnings results on Monday, February 4th. The company reported $0.62 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.57 by $0.05. Leggett & Platt had a return on equity of 28.99% and a net margin of 7.16%. The company had revenue of $1.05 billion during the quarter, compared to the consensus estimate of $1.02 billion. During the same period in the previous year, the company posted $0.59 EPS. The firm’s revenue for the quarter was up 6.7% compared to the same quarter last year. Analysts predict that Leggett & Platt, Inc. will post 2.52 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Friday, March 15th were paid a dividend of $0.38 per share. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $1.52 annualized dividend and a dividend yield of 3.52%. Leggett & Platt’s dividend payout ratio is currently 61.29%.
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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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