Legal & General Group Plc lifted its position in Leggett & Platt, Inc. (NYSE:LEG) by 4.6% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 765,959 shares of the company’s stock after acquiring an additional 33,612 shares during the period. Legal & General Group Plc owned approximately 0.59% of Leggett & Platt worth $27,452,000 at the end of the most recent quarter.
Other large investors have also recently made changes to their positions in the company. Intercontinental Wealth Advisors LLC bought a new position in Leggett & Platt during the fourth quarter worth $30,000. CSat Investment Advisory L.P. lifted its holdings in shares of Leggett & Platt by 90.4% during the fourth quarter. CSat Investment Advisory L.P. now owns 1,455 shares of the company’s stock worth $52,000 after buying an additional 691 shares in the last quarter. Federated Investors Inc. PA acquired a new stake in shares of Leggett & Platt during the third quarter worth $113,000. Oppenheimer Asset Management Inc. acquired a new stake in shares of Leggett & Platt during the fourth quarter worth $112,000. Finally, TLP Group LLC acquired a new stake in shares of Leggett & Platt during the third quarter worth $145,000. Institutional investors and hedge funds own 79.84% of the company’s stock.
A number of research analysts recently commented on LEG shares. Zacks Investment Research raised Leggett & Platt from a “sell” rating to a “hold” rating in a research note on Tuesday, April 9th. TheStreet raised Leggett & Platt from a “c+” rating to a “b-” rating in a research note on Friday, March 1st. Finally, Gabelli downgraded Leggett & Platt from a “buy” rating to a “hold” rating in a research note on Wednesday, February 6th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $45.00.
Leggett & Platt (NYSE:LEG) last announced its earnings results on Monday, February 4th. The company reported $0.62 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.57 by $0.05. The business had revenue of $1.05 billion for the quarter, compared to analysts’ expectations of $1.02 billion. Leggett & Platt had a return on equity of 28.99% and a net margin of 7.16%. The firm’s revenue was up 6.7% on a year-over-year basis. During the same period in the prior year, the business posted $0.59 earnings per share. As a group, research analysts expect that Leggett & Platt, Inc. will post 2.52 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Friday, March 15th were issued a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a dividend yield of 3.54%. The ex-dividend date was Thursday, March 14th. Leggett & Platt’s payout ratio is 61.29%.
In related news, SVP Scott S. Douglas sold 18,450 shares of the stock in a transaction on Wednesday, February 20th. The stock was sold at an average price of $45.22, for a total value of $834,309.00. Following the completion of the sale, the senior vice president now directly owns 51,187 shares of the company’s stock, valued at approximately $2,314,676.14. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Russell J. Iorio sold 16,042 shares of the stock in a transaction on Wednesday, February 27th. The shares were sold at an average price of $45.73, for a total value of $733,600.66. Following the completion of the sale, the senior vice president now directly owns 71,149 shares of the company’s stock, valued at $3,253,643.77. The disclosure for this sale can be found here. Insiders have sold a total of 44,635 shares of company stock worth $2,012,477 over the last 90 days. Company insiders own 1.45% of the company’s stock.
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About Leggett & Platt
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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