Oxbow Advisors LLC decreased its holdings in Leggett & Platt, Inc. (NYSE:LEG) by 17.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 35,020 shares of the company’s stock after selling 7,375 shares during the period. Oxbow Advisors LLC’s holdings in Leggett & Platt were worth $1,780,000 as of its most recent SEC filing.
Several other hedge funds have also recently added to or reduced their stakes in the company. Crossmark Global Holdings Inc. boosted its stake in shares of Leggett & Platt by 1.6% in the 4th quarter. Crossmark Global Holdings Inc. now owns 137,746 shares of the company’s stock worth $7,002,000 after buying an additional 2,217 shares during the last quarter. Rational Advisors LLC purchased a new position in shares of Leggett & Platt in the 4th quarter worth $349,000. Lighthouse Financial Advisors Inc. purchased a new position in shares of Leggett & Platt in the 4th quarter worth $2,041,000. Robeco Institutional Asset Management B.V. purchased a new position in shares of Leggett & Platt in the 4th quarter worth $391,000. Finally, Stevens Capital Management LP purchased a new position in shares of Leggett & Platt in the 4th quarter worth $404,000. Hedge funds and other institutional investors own 77.21% of the company’s stock.
In other Leggett & Platt news, Director Robert Ted Enloe III sold 6,849 shares of the business’s stock in a transaction that occurred on Wednesday, November 27th. The stock was sold at an average price of $52.58, for a total transaction of $360,120.42. Following the completion of the transaction, the director now owns 39,166 shares in the company, valued at $2,059,348.28. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Russell J. Iorio sold 6,962 shares of the business’s stock in a transaction that occurred on Wednesday, November 27th. The shares were sold at an average price of $53.09, for a total value of $369,612.58. Following the transaction, the senior vice president now owns 61,446 shares of the company’s stock, valued at approximately $3,262,168.14. The disclosure for this sale can be found here. 1.45% of the stock is owned by insiders.
A number of equities analysts have recently issued reports on LEG shares. CJS Securities downgraded Leggett & Platt from an “outperform” rating to a “market perform” rating and set a $54.00 price target on the stock. in a research note on Tuesday, December 10th. SunTrust Banks downgraded Leggett & Platt from a “buy” rating to a “hold” rating in a research note on Wednesday, October 30th. Goldman Sachs Group initiated coverage on Leggett & Platt in a research report on Friday, December 6th. They set a “neutral” rating on the stock. Stifel Nicolaus downgraded Leggett & Platt from a “buy” rating to a “hold” rating and lifted their target price for the company from $52.00 to $55.00 in a research report on Tuesday, November 19th. Finally, ValuEngine upgraded Leggett & Platt from a “sell” rating to a “hold” rating in a research report on Wednesday, October 30th. One research analyst has rated the stock with a sell rating and six have given a hold rating to the company. Leggett & Platt has an average rating of “Hold” and a consensus target price of $54.50.
Shares of LEG stock traded up $0.14 during trading hours on Friday, hitting $45.60. The stock had a trading volume of 478,689 shares, compared to its average volume of 1,224,125. Leggett & Platt, Inc. has a one year low of $35.35 and a one year high of $55.42. The company has a debt-to-equity ratio of 1.67, a current ratio of 1.66 and a quick ratio of 0.97. The stock’s 50-day moving average price is $49.31 and its two-hundred day moving average price is $45.87. The stock has a market capitalization of $5.91 billion, a price-to-earnings ratio of 18.46, a PEG ratio of 1.38 and a beta of 1.12.
Leggett & Platt (NYSE:LEG) last issued its earnings results on Monday, February 3rd. The company reported $0.68 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.66 by $0.02. Leggett & Platt had a return on equity of 27.79% and a net margin of 7.02%. The firm had revenue of $1.15 billion for the quarter, compared to analysts’ expectations of $1.16 billion. During the same period in the previous year, the firm posted $0.62 earnings per share. The business’s revenue was up 9.4% compared to the same quarter last year. As a group, equities research analysts predict that Leggett & Platt, Inc. will post 2.5 earnings per share for the current fiscal year.
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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