39,475 Shares in Leggett & Platt, Inc. (LEG) Acquired by Stevens Capital Management LP

Stevens Capital Management LP acquired a new position in shares of Leggett & Platt, Inc. (NYSE:LEG) in the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 39,475 shares of the company’s stock, valued at approximately $1,667,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Oregon Public Employees Retirement Fund boosted its position 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 worth $28,000 after buying an additional 976,369 shares during the period. Intercontinental Wealth Advisors LLC acquired a new stake in shares of Leggett & Platt in the fourth quarter worth $30,000. Legacy Advisors LLC acquired a new stake in shares of Leggett & Platt in the first quarter worth $51,000. CSat Investment Advisory L.P. boosted its position 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 worth $52,000 after buying an additional 691 shares during the period. Finally, Quadrant Capital Group LLC acquired a new stake in shares of Leggett & Platt in the first quarter worth $57,000. 79.75% of the stock is owned by institutional investors and hedge funds.

Shares of Leggett & Platt stock traded up $0.44 during midday trading on Tuesday, hitting $37.50. The company’s stock had a trading volume of 15,675 shares, compared to its average volume of 1,112,683. The stock has a market cap of $5.05 billion, a PE ratio of 15.12, a price-to-earnings-growth ratio of 1.70 and a beta of 1.04. The company has a quick ratio of 1.13, a current ratio of 1.91 and a debt-to-equity ratio of 2.02. Leggett & Platt, Inc. has a 1-year low of $33.48 and a 1-year high of $46.71.

Leggett & Platt (NYSE:LEG) last announced its quarterly earnings data on Monday, April 29th. The company reported $0.49 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.52 by ($0.03). Leggett & Platt had a return on equity of 28.02% and a net margin of 6.58%. The firm had revenue of $1.16 billion for the quarter, compared to analysts’ expectations of $1.18 billion. During the same quarter in the prior year, the business posted $0.57 earnings per share. Leggett & Platt’s revenue was up 12.3% on a year-over-year basis. Analysts expect that Leggett & Platt, Inc. will post 2.46 EPS for the current fiscal year.

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 4.27%. This is a positive change from Leggett & Platt’s previous quarterly dividend of $0.38. The ex-dividend date of this dividend is Thursday, June 13th. Leggett & Platt’s dividend payout ratio (DPR) is currently 61.29%.

In related news, SVP Russell J. Iorio sold 16,042 shares of the stock in a transaction on Wednesday, February 27th. The stock was 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 sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Joseph W. Mcclanathan sold 10,143 shares of the stock in a transaction on Thursday, February 14th. The stock was sold at an average price of $43.83, for a total value of $444,567.69. Following the sale, the director now owns 26,034 shares of the company’s stock, valued at $1,141,070.22. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 44,635 shares of company stock valued at $2,012,477. 1.45% of the stock is owned by corporate insiders.

Several analysts have recently commented on the company. Gabelli cut Leggett & Platt from a “buy” rating to a “hold” rating in a research report on Wednesday, February 6th. Zacks Investment Research cut Leggett & Platt from a “hold” rating to a “sell” rating in a research report on Friday, May 3rd. Finally, TheStreet raised Leggett & Platt from a “c+” rating to a “b-” rating in a research report on Friday, March 1st. Two equities research analysts have rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $44.67.

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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.

Further Reading: What is Net Asset Value (NAV)?

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

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