Mutual Advisors LLC Grows Position in Leggett & Platt, Incorporated $LEG

Mutual Advisors LLC boosted its holdings in Leggett & Platt, Incorporated (NYSE:LEG) by 73.4% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 167,820 shares of the company’s stock after acquiring an additional 71,034 shares during the quarter. Mutual Advisors LLC’s holdings in Leggett & Platt were worth $1,846,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of LEG. Vanguard Group Inc. raised its position in Leggett & Platt by 9.1% in the third quarter. Vanguard Group Inc. now owns 18,707,102 shares of the company’s stock worth $166,119,000 after acquiring an additional 1,557,459 shares in the last quarter. M&T Bank Corp raised its position in Leggett & Platt by 8,333.0% in the fourth quarter. M&T Bank Corp now owns 1,132,132 shares of the company’s stock worth $12,453,000 after acquiring an additional 1,118,707 shares in the last quarter. Quantinno Capital Management LP raised its position in Leggett & Platt by 208.2% in the second quarter. Quantinno Capital Management LP now owns 1,143,164 shares of the company’s stock worth $10,197,000 after acquiring an additional 772,263 shares in the last quarter. Invenomic Capital Management LP raised its position in Leggett & Platt by 44.1% in the third quarter. Invenomic Capital Management LP now owns 2,344,306 shares of the company’s stock worth $20,817,000 after acquiring an additional 717,079 shares in the last quarter. Finally, Bridgeway Capital Management LLC purchased a new position in Leggett & Platt in the third quarter worth $5,236,000. Hedge funds and other institutional investors own 64.23% of the company’s stock.

Leggett & Platt Stock Up 0.0%

Leggett & Platt stock opened at $10.90 on Monday. The company has a debt-to-equity ratio of 1.46, a quick ratio of 1.45 and a current ratio of 2.25. The firm has a market capitalization of $1.49 billion, a price-to-earnings ratio of 6.45 and a beta of 0.75. Leggett & Platt, Incorporated has a fifty-two week low of $7.86 and a fifty-two week high of $13.00. The stock’s fifty day moving average is $10.69 and its two-hundred day moving average is $10.79.

Leggett & Platt (NYSE:LEG) last posted its earnings results on Wednesday, February 11th. The company reported $0.22 earnings per share for the quarter, meeting the consensus estimate of $0.22. The company had revenue of $938.60 million for the quarter, compared to analyst estimates of $938.74 million. Leggett & Platt had a return on equity of 15.00% and a net margin of 5.80%.Leggett & Platt’s revenue was down 11.2% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.21 earnings per share. Analysts predict that Leggett & Platt, Incorporated will post 1.08 EPS for the current fiscal year.

Leggett & Platt Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, April 15th. Shareholders of record on Friday, March 13th were issued a $0.05 dividend. The ex-dividend date of this dividend was Friday, March 13th. This represents a $0.20 annualized dividend and a yield of 1.8%. Leggett & Platt’s dividend payout ratio is 11.83%.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the company. Wall Street Zen cut Leggett & Platt from a “buy” rating to a “hold” rating in a research report on Saturday, February 21st. Weiss Ratings raised Leggett & Platt from a “sell (d+)” rating to a “hold (c-)” rating in a report on Friday. Five analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $11.67.

About Leggett & Platt

Leggett & Platt, Inc is a diversified manufacturer specializing in the design, engineering and production of a wide range of engineered components and products. The company’s offerings span several end markets, including residential bedding, commercial and residential furniture, automotive seating and interiors, aerospace applications and industrial products. By integrating product design with proprietary manufacturing processes, Leggett & Platt serves as a key supplier to both original equipment manufacturers and aftermarket distributors.

The company’s core product lines include coil springs and support systems for mattresses and furniture, adjustable bed mechanisms, engineered components such as extruded and formed metal products, and specialty foam and bedding products.