Leggett & Platt (NYSE:LEG) Stake Decreased by Peninsula Asset Management Inc.

Peninsula Asset Management Inc. decreased its position in Leggett & Platt (NYSE:LEG) by 4.9% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 36,840 shares of the company’s stock after selling 1,900 shares during the quarter. Peninsula Asset Management Inc.’s holdings in Leggett & Platt were worth $1,759,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. BlackRock Inc. boosted its position in Leggett & Platt by 2.6% during the fourth quarter. BlackRock Inc. now owns 12,462,751 shares of the company’s stock worth $594,849,000 after purchasing an additional 320,930 shares during the period. Bank of New York Mellon Corp boosted its position in shares of Leggett & Platt by 4.3% in the fourth quarter. Bank of New York Mellon Corp now owns 2,658,840 shares of the company’s stock valued at $126,906,000 after acquiring an additional 109,248 shares during the period. TimesSquare Capital Management LLC boosted its position in shares of Leggett & Platt by 46.1% in the fourth quarter. TimesSquare Capital Management LLC now owns 2,495,300 shares of the company’s stock valued at $119,101,000 after acquiring an additional 787,600 shares during the period. US Bancorp DE boosted its position in shares of Leggett & Platt by 0.9% in the fourth quarter. US Bancorp DE now owns 1,985,118 shares of the company’s stock valued at $94,750,000 after acquiring an additional 18,434 shares during the period. Finally, Geode Capital Management LLC boosted its position in shares of Leggett & Platt by 2.6% in the fourth quarter. Geode Capital Management LLC now owns 1,576,456 shares of the company’s stock valued at $75,110,000 after acquiring an additional 40,189 shares during the period. 73.69% of the stock is owned by institutional investors and hedge funds.

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LEG has been the subject of a number of recent research reports. Gabelli upgraded Leggett & Platt from a “hold” rating to a “buy” rating in a research note on Wednesday, February 7th. Zacks Investment Research upgraded Leggett & Platt from a “hold” rating to a “buy” rating and set a $54.00 target price for the company in a research note on Wednesday, January 10th. Finally, Piper Jaffray reiterated a “hold” rating and set a $48.00 price objective on shares of Leggett & Platt in a research note on Tuesday, January 23rd. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and four have given a buy rating to the stock. Leggett & Platt presently has an average rating of “Hold” and an average target price of $55.00.

In related news, SVP Scott S. Douglas sold 10,000 shares of Leggett & Platt stock in a transaction that occurred on Wednesday, February 7th. The stock was sold at an average price of $47.01, for a total value of $470,100.00. Following the sale, the senior vice president now owns 29,584 shares of the company’s stock, valued at approximately $1,390,743.84. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Robert Ted Enloe III sold 5,871 shares of Leggett & Platt stock in a transaction that occurred on Thursday, February 15th. The shares were sold at an average price of $45.15, for a total value of $265,075.65. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 45,932 shares of company stock worth $2,122,668. 1.78% of the stock is currently owned by insiders.

Leggett & Platt stock traded down $1.06 during mid-day trading on Friday, hitting $43.93. The stock had a trading volume of 936,207 shares, compared to its average volume of 1,407,912. The company has a quick ratio of 1.22, a current ratio of 1.81 and a debt-to-equity ratio of 0.92. Leggett & Platt has a 12 month low of $41.25 and a 12 month high of $54.97. The stock has a market cap of $5,949.49, a price-to-earnings ratio of 17.86, a P/E/G ratio of 1.45 and a beta of 0.87.

Leggett & Platt (NYSE:LEG) last issued its earnings results on Monday, February 5th. The company reported $0.59 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.61 by ($0.02). The company had revenue of $984.00 million for the quarter, compared to the consensus estimate of $998.32 million. Leggett & Platt had a return on equity of 29.44% and a net margin of 7.42%. Leggett & Platt’s quarterly revenue was up 8.9% on a year-over-year basis. During the same quarter last year, the business posted $0.53 EPS. sell-side analysts expect that Leggett & Platt will post 2.75 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, April 13th. Stockholders of record on Thursday, March 15th will be given a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a dividend yield of 3.28%. The ex-dividend date of this dividend is Wednesday, March 14th. Leggett & Platt’s dividend payout ratio is currently 58.54%.

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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.

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

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