Caisse DE Depot ET Placement DU Quebec reduced its stake in shares of Leggett & Platt, Inc. (NYSE:LEG) by 21.6% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 28,267 shares of the company’s stock after selling 7,800 shares during the period. Caisse DE Depot ET Placement DU Quebec’s holdings in Leggett & Platt were worth $1,437,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds also recently made changes to their positions in LEG. FMR LLC grew its position in Leggett & Platt by 24.5% during the 1st quarter. FMR LLC now owns 54,615 shares of the company’s stock worth $2,306,000 after purchasing an additional 10,765 shares during the period. State Street Corp grew its position in Leggett & Platt by 13.8% during the 3rd quarter. State Street Corp now owns 15,550,846 shares of the company’s stock worth $642,806,000 after purchasing an additional 1,882,237 shares during the period. Neo Ivy Capital Management acquired a new stake in Leggett & Platt during the 3rd quarter worth about $1,281,000. Andra AP fonden boosted its stake in shares of Leggett & Platt by 7.4% during the 3rd quarter. Andra AP fonden now owns 102,000 shares of the company’s stock worth $4,176,000 after acquiring an additional 7,000 shares in the last quarter. Finally, EP Wealth Advisors LLC boosted its stake in shares of Leggett & Platt by 45.4% during the 3rd quarter. EP Wealth Advisors LLC now owns 8,152 shares of the company’s stock worth $334,000 after acquiring an additional 2,546 shares in the last quarter. 73.15% of the stock is currently owned by institutional investors.
Several research firms have recently issued reports on LEG. TheStreet lowered shares of Leggett & Platt from a “b” rating to a “c+” rating in a research note on Friday, March 6th. Goldman Sachs Group began coverage on shares of Leggett & Platt in a research note on Friday, December 6th. They set a “neutral” rating on the stock. Finally, CJS Securities lowered shares of Leggett & Platt from an “outperform” rating to a “market perform” rating and set a $54.00 target price on the stock. in a research note on Tuesday, December 10th. One research analyst has rated the stock with a sell rating and six have assigned a hold rating to the stock. Leggett & Platt presently has an average rating of “Hold” and an average target price of $54.50.
LEG stock opened at $27.62 on Thursday. The company’s 50-day simple moving average is $38.09 and its 200-day simple moving average is $45.51. The company has a quick ratio of 0.97, a current ratio of 1.66 and a debt-to-equity ratio of 1.67. Leggett & Platt, Inc. has a 52-week low of $22.03 and a 52-week high of $55.42. The firm has a market cap of $3.50 billion, a P/E ratio of 11.18, a PEG ratio of 0.82 and a beta of 1.21.
Leggett & Platt (NYSE:LEG) last issued its quarterly earnings results on Monday, February 3rd. The company reported $0.68 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.66 by $0.02. The firm had revenue of $1.15 billion for the quarter, compared to analyst estimates of $1.16 billion. Leggett & Platt had a net margin of 7.02% and a return on equity of 27.79%. Leggett & Platt’s quarterly revenue was up 9.4% compared to the same quarter last year. During the same period last year, the company posted $0.62 EPS. On average, analysts anticipate that Leggett & Platt, Inc. will post 2.5 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 15th. Investors of record on Friday, March 13th will be paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 5.79%. The ex-dividend date is Thursday, March 12th. Leggett & Platt’s dividend payout ratio is presently 62.26%.
Leggett & Platt 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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