Loudon Investment Management LLC raised its position in shares of Leggett & Platt, Inc. (NYSE:LEG) by 56.8% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 35,814 shares of the company’s stock after purchasing an additional 12,975 shares during the quarter. Leggett & Platt accounts for about 1.3% of Loudon Investment Management LLC’s investment portfolio, making the stock its 25th largest position. Loudon Investment Management LLC’s holdings in Leggett & Platt were worth $1,512,000 at the end of the most recent reporting period.
A number of other large investors have also recently modified their holdings of the business. JPMorgan Chase & Co. lifted its position in Leggett & Platt by 9.9% during the third quarter. JPMorgan Chase & Co. now owns 714,340 shares of the company’s stock worth $31,282,000 after acquiring an additional 64,324 shares during the last quarter. Morgan Stanley increased its holdings in shares of Leggett & Platt by 8.7% during the third quarter. Morgan Stanley now owns 673,694 shares of the company’s stock worth $29,500,000 after purchasing an additional 53,646 shares during the period. Vanguard Group Inc increased its holdings in shares of Leggett & Platt by 1.1% during the third quarter. Vanguard Group Inc now owns 13,988,152 shares of the company’s stock worth $612,540,000 after purchasing an additional 158,966 shares during the period. State of Alaska Department of Revenue increased its holdings in shares of Leggett & Platt by 7.5% during the fourth quarter. State of Alaska Department of Revenue now owns 50,444 shares of the company’s stock worth $1,806,000 after purchasing an additional 3,505 shares during the period. Finally, Palisade Asset Management LLC increased its holdings in shares of Leggett & Platt by 0.6% during the fourth quarter. Palisade Asset Management LLC now owns 62,011 shares of the company’s stock worth $2,222,000 after purchasing an additional 400 shares during the period. 79.65% of the stock is currently owned by institutional investors and hedge funds.
Several research analysts have recently commented on the stock. Gabelli cut shares of Leggett & Platt from a “buy” rating to a “hold” rating in a report on Wednesday, February 6th. Zacks Investment Research cut shares of Leggett & Platt from a “hold” rating to a “sell” rating in a research note on Friday, May 3rd. Finally, TheStreet raised shares of Leggett & Platt from a “c+” rating to a “b-” rating in a research note on Friday, March 1st. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating and three have assigned a buy rating to the stock. Leggett & Platt currently has a consensus rating of “Hold” and a consensus target price of $44.67.
NYSE:LEG traded up $0.36 during mid-day trading on Thursday, reaching $38.09. The stock had a trading volume of 12,843 shares, compared to its average volume of 1,109,476. The stock has a market capitalization of $4.88 billion, a price-to-earnings ratio of 15.41, a price-to-earnings-growth ratio of 1.65 and a beta of 1.04. The company has a debt-to-equity ratio of 2.02, a current ratio of 1.91 and a quick ratio of 1.13. Leggett & Platt, Inc. has a 12 month low of $33.48 and a 12 month 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 analysts’ consensus estimates of $0.52 by ($0.03). The firm had revenue of $1.16 billion during the quarter, compared to the consensus estimate of $1.18 billion. Leggett & Platt had a net margin of 6.58% and a return on equity of 28.02%. The business’s revenue was up 12.3% compared to the same quarter last year. During the same period last year, the business earned $0.57 earnings per share. As a group, analysts anticipate that Leggett & Platt, Inc. will post 2.46 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Friday, June 14th will be paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 4.20%. The ex-dividend date is Thursday, June 13th. This is a boost from Leggett & Platt’s previous quarterly dividend of $0.38. Leggett & Platt’s payout ratio is presently 61.29%.
In other news, SVP Russell J. Iorio sold 16,042 shares of Leggett & Platt stock in a transaction 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 transaction, the senior vice president now owns 71,149 shares in the company, valued at $3,253,643.77. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, SVP Scott S. Douglas sold 18,450 shares of Leggett & Platt stock in a transaction on Wednesday, February 20th. The stock was sold at an average price of $45.22, for a total transaction of $834,309.00. Following the transaction, the senior vice president now owns 51,187 shares in the company, valued at approximately $2,314,676.14. The disclosure for this sale can be found here. Insiders own 1.45% of the company’s stock.
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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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