Dynamic Technology Lab Private Ltd acquired a new position in shares of Leggett & Platt, Inc. (NYSE:LEG) in the 1st quarter, HoldingsChannel.com reports. The institutional investor acquired 10,363 shares of the company’s stock, valued at approximately $438,000.
Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Penserra Capital Management LLC purchased a new stake in shares of Leggett & Platt in the first quarter valued at $26,000. Oregon Public Employees Retirement Fund lifted its holdings in shares of Leggett & Platt by 3,237.1% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 1,006,531 shares of the company’s stock valued at $28,000 after purchasing an additional 976,369 shares in the last quarter. Rockefeller Capital Management L.P. lifted its holdings in shares of Leggett & Platt by 346.2% in the first quarter. Rockefeller Capital Management L.P. now owns 763 shares of the company’s stock valued at $32,000 after purchasing an additional 592 shares in the last quarter. Legacy Advisors LLC purchased a new stake in shares of Leggett & Platt in the first quarter valued at $51,000. Finally, CSat Investment Advisory L.P. lifted its holdings in shares of Leggett & Platt by 90.4% in the fourth quarter. CSat Investment Advisory L.P. now owns 1,455 shares of the company’s stock valued at $52,000 after purchasing an additional 691 shares in the last quarter. Institutional investors own 77.48% of the company’s stock.
LEG opened at $37.77 on Friday. The firm has a market capitalization of $4.97 billion, a PE ratio of 15.70, a price-to-earnings-growth ratio of 1.69 and a beta of 1.06. Leggett & Platt, Inc. has a 12-month low of $33.48 and a 12-month high of $46.71. The company has a quick ratio of 1.13, a current ratio of 1.91 and a debt-to-equity ratio of 2.02.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 15th. Investors of record on Friday, June 14th will be issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 4.24%. This is a positive change from Leggett & Platt’s previous quarterly dividend of $0.38. The ex-dividend date is Thursday, June 13th. Leggett & Platt’s dividend payout ratio (DPR) is currently 61.29%.
LEG has been the subject of a number of research analyst reports. TheStreet lowered Leggett & Platt from a “b-” rating to a “c+” rating in a report on Friday, May 31st. Zacks Investment Research upgraded Leggett & Platt from a “sell” rating to a “hold” rating in a report on Tuesday, April 9th. Two analysts have rated the stock with a sell rating, one has assigned a hold rating and two have assigned a buy rating to the company. Leggett & Platt presently has an average rating of “Hold” and an average target price of $42.00.
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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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