NewSquare Capital LLC lifted its position in Leggett & Platt, Inc. (NYSE:LEG) by 2.9% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 23,381 shares of the company’s stock after acquiring an additional 659 shares during the quarter. NewSquare Capital LLC’s holdings in Leggett & Platt were worth $838,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also recently modified their holdings of the company. Capital Investment Advisors LLC boosted its position in Leggett & Platt by 5.6% during the 4th quarter. Capital Investment Advisors LLC now owns 7,149 shares of the company’s stock worth $256,000 after acquiring an additional 378 shares during the period. Palisade Asset Management LLC raised its stake in shares of Leggett & Platt by 0.6% in the 4th quarter. Palisade Asset Management LLC now owns 62,011 shares of the company’s stock worth $2,222,000 after buying an additional 400 shares in the last quarter. Hexavest Inc. raised its stake in shares of Leggett & Platt by 25.5% in the 3rd quarter. Hexavest Inc. now owns 6,124 shares of the company’s stock worth $268,000 after buying an additional 1,245 shares in the last quarter. Verity & Verity LLC raised its position in shares of Leggett & Platt by 2.2% during the third quarter. Verity & Verity LLC now owns 61,044 shares of the company’s stock worth $2,673,000 after purchasing an additional 1,296 shares during the period. Finally, GSA Capital Partners LLP raised its position in shares of Leggett & Platt by 12.0% during the third quarter. GSA Capital Partners LLP now owns 12,649 shares of the company’s stock worth $554,000 after purchasing an additional 1,360 shares during the period. Institutional investors own 78.11% of the company’s stock.
A number of equities research analysts have recently issued reports on the company. Zacks Investment Research lowered Leggett & Platt from a “hold” rating to a “sell” rating in a research report on Thursday, February 7th. Gabelli lowered Leggett & Platt from a “buy” rating to a “hold” rating in a research report on Wednesday, February 6th. SunTrust Banks lowered their target price on Leggett & Platt to $40.00 and set an “outperform” rating on the stock in a research note on Tuesday, October 30th. Raymond James cut Leggett & Platt from a “strong-buy” rating to an “outperform” rating and set a $44.00 price objective for the company. in a research report on Monday, October 29th. Finally, TheStreet cut Leggett & Platt from a “b-” rating to a “c+” rating in a report on Friday, October 26th. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $45.80.
Leggett & Platt (NYSE:LEG) last posted its quarterly earnings results on Monday, February 4th. The company reported $0.62 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.57 by $0.05. Leggett & Platt had a return on equity of 28.99% and a net margin of 7.16%. The business had revenue of $1.05 billion for the quarter, compared to analyst estimates of $1.02 billion. During the same period last year, the company earned $0.59 EPS. The firm’s revenue was up 6.7% on a year-over-year basis. Analysts forecast that Leggett & Platt, Inc. will post 2.53 EPS for the current year.
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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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