Smith Moore & CO. reduced its position in shares of Leggett & Platt, Inc. (NYSE:LEG) by 9.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 10,617 shares of the company’s stock after selling 1,132 shares during the period. Smith Moore & CO.’s holdings in Leggett & Platt were worth $381,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Suntrust Banks Inc. lifted its position in shares of Leggett & Platt by 1.5% during the fourth quarter. Suntrust Banks Inc. now owns 15,980 shares of the company’s stock worth $573,000 after purchasing an additional 233 shares in the last quarter. HL Financial Services LLC raised its holdings in Leggett & Platt by 4.5% in the fourth quarter. HL Financial Services LLC now owns 6,737 shares of the company’s stock valued at $241,000 after acquiring an additional 288 shares in the last quarter. Sun Life Financial INC raised its holdings in Leggett & Platt by 1.5% in the fourth quarter. Sun Life Financial INC now owns 23,407 shares of the company’s stock valued at $839,000 after acquiring an additional 348 shares in the last quarter. Capital Investment Advisors LLC raised its holdings in Leggett & Platt by 5.6% in the fourth quarter. Capital Investment Advisors LLC now owns 7,149 shares of the company’s stock valued at $256,000 after acquiring an additional 378 shares in the last quarter. Finally, Oakworth Capital Inc. raised its holdings in Leggett & Platt by 4.8% in the fourth quarter. Oakworth Capital Inc. now owns 8,554 shares of the company’s stock valued at $307,000 after acquiring an additional 390 shares in the last quarter. 78.07% of the stock is currently owned by institutional investors and hedge funds.
LEG opened at $40.77 on Friday. The firm has a market capitalization of $5.34 billion, a P/E ratio of 16.44, a P/E/G ratio of 1.84 and a beta of 1.10. The company has a debt-to-equity ratio of 1.01, a quick ratio of 1.09 and a current ratio of 1.87. Leggett & Platt, Inc. has a 12-month low of $33.48 and a 12-month high of $46.71.
Leggett & Platt (NYSE:LEG) last posted its quarterly earnings results on Monday, February 4th. The company reported $0.62 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.57 by $0.05. The firm had revenue of $1.05 billion for the quarter, compared to analysts’ expectations of $1.02 billion. Leggett & Platt had a net margin of 7.16% and a return on equity of 28.99%. The firm’s quarterly revenue was up 6.7% on a year-over-year basis. During the same period in the prior year, the company posted $0.59 earnings per share. As a group, equities research analysts anticipate that Leggett & Platt, Inc. will post 2.53 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, April 15th. Shareholders of record on Friday, March 15th will be paid a dividend of $0.38 per share. The ex-dividend date is Thursday, March 14th. This represents a $1.52 annualized dividend and a yield of 3.73%. Leggett & Platt’s payout ratio is 61.29%.
In other Leggett & Platt news, SVP Russell J. Iorio sold 16,042 shares of the business’s stock in a transaction on Wednesday, February 27th. The shares were sold at an average price of $45.73, for a total transaction of $733,600.66. Following the completion of the sale, the senior vice president now owns 71,149 shares in the company, valued at $3,253,643.77. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Joseph W. Mcclanathan sold 10,143 shares of the business’s stock in a transaction on Thursday, February 14th. The shares were sold at an average price of $43.83, for a total transaction of $444,567.69. Following the sale, the director now owns 26,034 shares of the company’s stock, valued at approximately $1,141,070.22. The disclosure for this sale can be found here. In the last quarter, insiders have sold 44,635 shares of company stock valued at $2,012,477. 1.52% of the stock is owned by insiders.
Several analysts recently issued reports on the stock. Gabelli cut shares of Leggett & Platt from a “buy” rating to a “hold” rating in a report on Wednesday, February 6th. TheStreet raised shares of Leggett & Platt from a “c+” rating to a “b-” rating in a report on Friday, March 1st. Finally, Zacks Investment Research cut shares of Leggett & Platt from a “hold” rating to a “sell” rating in a report on Thursday, February 7th. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating to the stock. Leggett & Platt has a consensus rating of “Hold” and an average target price of $45.80.
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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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