Whittier Trust Co. of Nevada Inc. lessened its holdings in shares of Leggett & Platt, Inc. (NYSE:LEG) by 4.8% in the second quarter, according to its most recent filing with the SEC. The firm owned 19,626 shares of the company’s stock after selling 990 shares during the period. Whittier Trust Co. of Nevada Inc.’s holdings in Leggett & Platt were worth $753,000 as of its most recent filing with the SEC.
Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Sigma Planning Corp acquired a new stake in Leggett & Platt during the 1st quarter worth $203,000. Berkshire Asset Management LLC PA grew its holdings in Leggett & Platt by 3.3% during the 1st quarter. Berkshire Asset Management LLC PA now owns 574,365 shares of the company’s stock worth $24,250,000 after acquiring an additional 18,336 shares during the period. Gulf International Bank UK Ltd grew its holdings in Leggett & Platt by 1.9% during the 1st quarter. Gulf International Bank UK Ltd now owns 29,030 shares of the company’s stock worth $1,225,000 after acquiring an additional 550 shares during the period. Welch Group LLC grew its holdings in Leggett & Platt by 5.4% during the 2nd quarter. Welch Group LLC now owns 622,852 shares of the company’s stock worth $23,899,000 after acquiring an additional 32,078 shares during the period. Finally, Rowland & Co. Investment Counsel ADV grew its holdings in Leggett & Platt by 2.0% during the 1st quarter. Rowland & Co. Investment Counsel ADV now owns 34,703 shares of the company’s stock worth $1,465,000 after acquiring an additional 666 shares during the period. 76.53% of the stock is owned by hedge funds and other institutional investors.
LEG has been the subject of a number of analyst reports. ValuEngine lowered shares of Leggett & Platt from a “hold” rating to a “sell” rating in a report on Tuesday, July 2nd. Raymond James lowered shares of Leggett & Platt from an “outperform” rating to a “market perform” rating in a report on Wednesday, July 24th. TheStreet lowered shares of Leggett & Platt from a “b-” rating to a “c+” rating in a report on Friday, May 31st. Finally, Zacks Investment Research lowered shares of Leggett & Platt from a “hold” rating to a “sell” rating in a report on Friday, May 3rd. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and one has issued a buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $42.00.
Shares of LEG stock traded down $0.36 on Friday, hitting $38.51. The stock had a trading volume of 1,247,025 shares, compared to its average volume of 1,703,232. Leggett & Platt, Inc. has a twelve month low of $33.48 and a twelve month high of $46.71. The firm has a market cap of $5.10 billion, a price-to-earnings ratio of 15.53, a P/E/G ratio of 1.75 and a beta of 1.08. The company has a debt-to-equity ratio of 2.01, a quick ratio of 1.13 and a current ratio of 1.89. The company has a fifty day simple moving average of $38.72.
Leggett & Platt (NYSE:LEG) last announced its quarterly earnings results on Monday, July 29th. The company reported $0.64 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.63 by $0.01. Leggett & Platt had a net margin of 6.44% and a return on equity of 27.47%. The company had revenue of $1.21 billion during the quarter, compared to analyst estimates of $1.28 billion. During the same quarter in the previous year, the business earned $0.63 EPS. Research analysts expect that Leggett & Platt, Inc. will post 2.45 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Monday, July 15th. Stockholders of record on Friday, June 14th were issued a $0.40 dividend. This is a positive change from Leggett & Platt’s previous quarterly dividend of $0.38. The ex-dividend date of this dividend was Thursday, June 13th. This represents a $1.60 annualized dividend and a dividend yield of 4.15%. Leggett & Platt’s payout ratio is 64.52%.
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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