Machina Capital S.A.S. Purchases New Holdings in Leggett & Platt, Inc. (LEG)

Machina Capital S.A.S. acquired a new position in Leggett & Platt, Inc. (NYSE:LEG) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund acquired 3,298 shares of the company’s stock, valued at approximately $118,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Pinnacle Bank bought a new position in Leggett & Platt in the 4th quarter worth $82,000. Geode Capital Management LLC raised its position in shares of Leggett & Platt by 7.2% during the 4th quarter. Geode Capital Management LLC now owns 2,109,433 shares of the company’s stock valued at $75,497,000 after buying an additional 141,394 shares in the last quarter. Norges Bank purchased a new stake in shares of Leggett & Platt during the 4th quarter valued at about $40,824,000. Financial Advocates Investment Management raised its position in Leggett & Platt by 32,251.0% in the 4th quarter. Financial Advocates Investment Management now owns 79,260 shares of the company’s stock worth $2,248,000 after purchasing an additional 79,015 shares during the period. Finally, Dimensional Fund Advisors LP raised its position in Leggett & Platt by 2.3% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,189,463 shares of the company’s stock worth $42,631,000 after purchasing an additional 26,326 shares during the period. Hedge funds and other institutional investors own 79.85% of the company’s stock.

In other Leggett & Platt news, SVP Scott S. Douglas sold 18,450 shares of Leggett & Platt stock in a transaction dated Wednesday, February 20th. The shares were sold at an average price of $45.22, for a total transaction of $834,309.00. Following the transaction, the senior vice president now directly owns 51,187 shares of the company’s stock, valued at $2,314,676.14. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Russell J. Iorio sold 16,042 shares of the business’s stock in a transaction that occurred on Wednesday, February 27th. The shares were sold at an average price of $45.73, for a total transaction of $733,600.66. Following the completion of the sale, the senior vice president now directly owns 71,149 shares in the company, valued at $3,253,643.77. The disclosure for this sale can be found here. Insiders have sold 44,635 shares of company stock worth $2,012,477 over the last 90 days. 1.45% of the stock is currently owned by company insiders.

A number of brokerages have commented on LEG. Zacks Investment Research upgraded shares of Leggett & Platt from a “sell” rating to a “hold” rating in a research note on Tuesday, April 9th. TheStreet upgraded shares of Leggett & Platt from a “c+” rating to a “b-” rating in a research note on Friday, March 1st. Finally, Gabelli downgraded shares of Leggett & Platt from a “buy” rating to a “hold” rating in a research note on Wednesday, February 6th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $45.00.

LEG traded up $0.32 on Friday, reaching $42.01. The stock had a trading volume of 1,065,000 shares, compared to its average volume of 1,059,198. Leggett & Platt, Inc. has a 12-month low of $33.48 and a 12-month high of $46.71. The stock has a market capitalization of $5.57 billion, a price-to-earnings ratio of 16.94, a PEG ratio of 1.88 and a beta of 1.09. The company has a debt-to-equity ratio of 1.01, a quick ratio of 1.09 and a current ratio of 1.87.

Leggett & Platt (NYSE:LEG) last announced its earnings results on Monday, February 4th. The company reported $0.62 earnings per share (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 analyst estimates of $1.02 billion. Leggett & Platt had a net margin of 7.16% and a return on equity of 28.99%. The company’s revenue for the quarter was up 6.7% compared to the same quarter last year. During the same quarter last year, the business earned $0.59 earnings per share. On average, equities research analysts forecast that Leggett & Platt, Inc. will post 2.51 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Friday, March 15th were given a dividend of $0.38 per share. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $1.52 dividend on an annualized basis and a yield of 3.62%. Leggett & Platt’s payout ratio is presently 61.29%.

TRADEMARK VIOLATION WARNING: This article was first reported by Baseball Daily News and is the property of of Baseball Daily News. If you are viewing this article on another site, it was copied illegally and reposted in violation of US & international copyright & trademark laws. The correct version of this article can be viewed at https://www.baseballdailydigest.com/news/2019/04/26/machina-capital-s-a-s-buys-new-stake-in-leggett-platt-inc-leg.html.

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.

Recommended Story: Find a Trading Strategy That Works

Institutional Ownership by Quarter for Leggett & Platt (NYSE:LEG)

Receive News & Ratings for Leggett & Platt Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Leggett & Platt and related companies with MarketBeat.com's FREE daily email newsletter.