Dividend Assets Capital LLC lowered its stake in Leggett & Platt, Incorporated (NYSE:LEG) by 10.0% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 18,050 shares of the company’s stock after selling 2,000 shares during the period. Dividend Assets Capital LLC’s holdings in Leggett & Platt, were worth $862,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. OppenheimerFunds Inc. grew its stake in shares of Leggett & Platt, by 6.9% in the first quarter. OppenheimerFunds Inc. now owns 9,180 shares of the company’s stock worth $462,000 after purchasing an additional 594 shares during the last quarter. Thrivent Financial For Lutherans grew its stake in shares of Leggett & Platt, by 5.2% in the first quarter. Thrivent Financial For Lutherans now owns 5,060 shares of the company’s stock worth $254,000 after purchasing an additional 250 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in shares of Leggett & Platt, by 0.9% in the first quarter. Dimensional Fund Advisors LP now owns 587,140 shares of the company’s stock worth $29,545,000 after purchasing an additional 4,952 shares during the last quarter. Oppenheimer Asset Management Inc. bought a new stake in shares of Leggett & Platt, in the first quarter worth about $126,000. Finally, Bank of America Corp DE grew its stake in shares of Leggett & Platt, by 15.0% in the first quarter. Bank of America Corp DE now owns 251,297 shares of the company’s stock worth $12,645,000 after purchasing an additional 32,776 shares during the last quarter. Hedge funds and other institutional investors own 70.22% of the company’s stock.
Several research firms recently issued reports on LEG. BidaskClub cut Leggett & Platt, from a “hold” rating to a “sell” rating in a research note on Sunday, August 6th. Zacks Investment Research raised Leggett & Platt, from a “sell” rating to a “hold” rating in a research report on Tuesday, November 7th. Piper Jaffray Companies set a $59.00 price objective on Leggett & Platt, and gave the company a “buy” rating in a research report on Monday, August 14th. SunTrust Banks, Inc. raised Leggett & Platt, from a “hold” rating to a “buy” rating and lifted their price objective for the company from $50.00 to $53.00 in a research report on Friday, September 22nd. They noted that the move was a valuation call. Finally, Stifel Nicolaus reaffirmed a “hold” rating on shares of Leggett & Platt, in a research report on Thursday, September 7th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, two have given a buy rating and two have assigned a strong buy rating to the company’s stock. Leggett & Platt, presently has an average rating of “Buy” and a consensus target price of $54.29.
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Leggett & Platt, Incorporated (LEG) traded down $0.13 during mid-day trading on Tuesday, hitting $45.81. 741,100 shares of the stock traded hands, compared to its average volume of 969,669. Leggett & Platt, Incorporated has a 1 year low of $43.17 and a 1 year high of $54.97. The stock has a market capitalization of $5,980.00, a price-to-earnings ratio of 19.14, a price-to-earnings-growth ratio of 1.91 and a beta of 1.03. The company has a quick ratio of 1.11, a current ratio of 1.74 and a debt-to-equity ratio of 0.89.
Leggett & Platt, (NYSE:LEG) last released its earnings results on Thursday, October 26th. The company reported $0.61 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.60 by $0.01. Leggett & Platt, had a net margin of 8.75% and a return on equity of 29.60%. The firm had revenue of $1.01 billion during the quarter, compared to analyst estimates of $1.01 billion. During the same period last year, the business earned $0.67 earnings per share. The business’s revenue was up 6.4% on a year-over-year basis. analysts forecast that Leggett & Platt, Incorporated will post 2.49 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, January 12th. Stockholders of record on Friday, December 15th will be issued a dividend of $0.36 per share. The ex-dividend date of this dividend is Thursday, December 14th. This represents a $1.44 annualized dividend and a dividend yield of 3.14%. Leggett & Platt,’s payout ratio is 58.30%.
Leggett & Platt, 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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