Aviva PLC decreased its stake in shares of Leggett & Platt, Inc. (NYSE:LEG) by 21.8% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 49,271 shares of the company’s stock after selling 13,707 shares during the period. Aviva PLC’s holdings in Leggett & Platt were worth $1,766,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors also recently modified their holdings of LEG. Bank of New York Mellon Corp increased its holdings in shares of Leggett & Platt by 27.7% during the 4th quarter. Bank of New York Mellon Corp now owns 5,805,887 shares of the company’s stock valued at $208,083,000 after acquiring an additional 1,258,390 shares during the last quarter. Alps Advisors Inc. acquired a new position in shares of Leggett & Platt during the 4th quarter valued at about $38,771,000. Oregon Public Employees Retirement Fund increased its holdings in shares of Leggett & Platt by 3,237.1% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 1,006,531 shares of the company’s stock valued at $28,000 after acquiring an additional 976,369 shares during the last quarter. BlackRock Inc. increased its holdings in shares of Leggett & Platt by 4.1% during the 4th quarter. BlackRock Inc. now owns 12,678,300 shares of the company’s stock valued at $454,390,000 after acquiring an additional 499,242 shares during the last quarter. Finally, OLD Republic International Corp increased its holdings in shares of Leggett & Platt by 29.6% during the 4th quarter. OLD Republic International Corp now owns 1,199,500 shares of the company’s stock valued at $42,990,000 after acquiring an additional 274,000 shares during the last quarter. 79.60% of the stock is currently owned by institutional investors and hedge funds.
In other Leggett & Platt news, SVP Scott S. Douglas sold 18,450 shares of the firm’s stock in a transaction that occurred 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 sale, the senior vice president now 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 accessible through this link. Also, SVP Russell J. Iorio sold 16,042 shares of the firm’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 value 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 approximately $3,253,643.77. The disclosure for this sale can be found here. Insiders sold a total of 44,635 shares of company stock worth $2,012,477 in the last ninety days. Insiders own 1.52% of the company’s stock.
A number of research analysts have recently commented on LEG shares. Zacks Investment Research lowered Leggett & Platt from a “hold” rating to a “sell” rating in a report on Thursday, February 7th. TheStreet raised Leggett & Platt from a “c+” rating to a “b-” rating in a report on Friday, March 1st. Finally, Gabelli lowered Leggett & Platt from a “buy” rating to a “hold” rating in a report on Wednesday, February 6th. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and three have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $45.80.
LEG opened at $43.06 on Friday. The company has a market capitalization of $5.72 billion, a price-to-earnings ratio of 17.36, a price-to-earnings-growth ratio of 1.91 and a beta of 1.10. The company has a current ratio of 1.87, a quick ratio of 1.09 and a debt-to-equity ratio of 1.01. Leggett & Platt, Inc. has a 12-month low of $33.48 and a 12-month high of $47.44.
Leggett & Platt (NYSE:LEG) last released its earnings results on Monday, February 4th. The company reported $0.62 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.57 by $0.05. The firm had revenue of $1.05 billion for the quarter, compared to analyst estimates of $1.02 billion. Leggett & Platt had a return on equity of 28.99% and a net margin of 7.16%. The company’s revenue was up 6.7% on a year-over-year basis. During the same quarter last year, the firm posted $0.59 EPS. Research analysts expect that Leggett & Platt, Inc. will post 2.53 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, April 15th. Shareholders of record on Friday, March 15th will be issued a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a yield of 3.53%. The ex-dividend date of this dividend is Thursday, March 14th. Leggett & Platt’s dividend payout ratio (DPR) is currently 61.29%.
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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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