BB&T Investment Services Inc. purchased a new position in Leggett & Platt, Incorporated (NYSE:LEG) during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 5,422 shares of the company’s stock, valued at approximately $280,000.
A number of other institutional investors and hedge funds also recently modified their holdings of LEG. BlackRock Inc. increased its stake in Leggett & Platt, by 1,572.6% in the 1st quarter. BlackRock Inc. now owns 11,942,965 shares of the company’s stock worth $600,969,000 after purchasing an additional 11,228,920 shares in the last quarter. Janus Henderson Group PLC increased its stake in Leggett & Platt, by 1,257.3% in the 2nd quarter. Janus Henderson Group PLC now owns 195,679 shares of the company’s stock worth $10,279,000 after purchasing an additional 181,262 shares in the last quarter. Lazard Asset Management LLC purchased a new position in Leggett & Platt, in the 1st quarter worth about $6,840,000. Balyasny Asset Management LLC increased its stake in Leggett & Platt, by 575.8% in the 2nd quarter. Balyasny Asset Management LLC now owns 148,021 shares of the company’s stock worth $7,776,000 after purchasing an additional 126,119 shares in the last quarter. Finally, Gotham Asset Management LLC increased its stake in Leggett & Platt, by 270.6% in the 1st quarter. Gotham Asset Management LLC now owns 157,645 shares of the company’s stock worth $7,933,000 after purchasing an additional 115,102 shares in the last quarter. 68.86% of the stock is currently owned by hedge funds and other institutional investors.
In related news, insider Matthew C. Flanigan sold 19,589 shares of the stock in a transaction dated Monday, July 31st. The stock was sold at an average price of $49.58, for a total transaction of $971,222.62. Following the completion of the transaction, the insider now directly owns 159,522 shares in the company, valued at $7,909,100.76. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 1.78% of the stock is currently owned by company insiders.
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A number of equities research analysts have commented on LEG shares. Piper Jaffray Companies restated a “buy” rating and set a $59.00 price objective on shares of Leggett & Platt, in a research report on Friday, July 14th. Gabelli started coverage on Leggett & Platt, in a research report on Wednesday, June 21st. They set a “hold” rating and a $53.00 price objective for the company. BidaskClub upgraded Leggett & Platt, from a “hold” rating to a “buy” rating in a research report on Saturday, June 17th. Credit Suisse Group started coverage on Leggett & Platt, in a research report on Thursday, June 22nd. They set a “neutral” rating and a $56.00 price objective for the company. Finally, Hilliard Lyons upgraded Leggett & Platt, from a “neutral” rating to a “long-term buy” rating and set a $66.00 price objective for the company in a research report on Monday, July 24th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating, three have assigned a buy rating and two have issued a strong buy rating to the stock. Leggett & Platt, has an average rating of “Hold” and a consensus price target of $54.75.
Shares of Leggett & Platt, Incorporated (LEG) traded down 0.04% during midday trading on Friday, reaching $47.87. The company’s stock had a trading volume of 303,815 shares. The stock has a 50-day moving average of $46.59 and a 200 day moving average of $50.14. Leggett & Platt, Incorporated has a 12 month low of $43.17 and a 12 month high of $54.97. The company has a market cap of $6.33 billion, a price-to-earnings ratio of 19.00 and a beta of 0.99.
Leggett & Platt, (NYSE:LEG) last posted its quarterly earnings data on Thursday, July 27th. The company reported $0.64 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.65 by ($0.01). The firm had revenue of $989.30 million for the quarter, compared to the consensus estimate of $1 billion. Leggett & Platt, had a return on equity of 31.02% and a net margin of 9.17%. The firm’s quarterly revenue was up 3.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.66 earnings per share. On average, analysts predict that Leggett & Platt, Incorporated will post $2.43 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 13th. Investors of record on Friday, September 15th will be issued a dividend of $0.36 per share. The ex-dividend date is Thursday, September 14th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 3.01%. Leggett & Platt,’s payout ratio is presently 57.14%.
Leggett & Platt, Company Profile
Leggett & Platt, Incorporated is a manufacturer that conceives, designs and produces a range of engineered components and products found in homes, offices and automobiles. The Company operates in four segments: Residential Furnishings, Commercial Products, Industrial Materials and Specialized Products.
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