Smith Shellnut Wilson LLC ADV Buys Shares of 5,807 Leggett & Platt, Inc. (LEG)

Smith Shellnut Wilson LLC ADV bought a new stake in Leggett & Platt, Inc. (NYSE:LEG) during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 5,807 shares of the company’s stock, valued at approximately $254,000.

Other large investors have also recently added to or reduced their stakes in the company. Oregon Public Employees Retirement Fund purchased a new position in Leggett & Platt in the 2nd quarter valued at about $1,339,000. Royal London Asset Management Ltd. purchased a new position in Leggett & Platt in the 2nd quarter valued at about $2,274,000. BerganKDV Wealth Management LLC lifted its holdings in Leggett & Platt by 11.0% in the 2nd quarter. BerganKDV Wealth Management LLC now owns 19,322 shares of the company’s stock valued at $863,000 after purchasing an additional 1,908 shares in the last quarter. Charles Schwab Investment Advisory Inc. purchased a new position in Leggett & Platt in the 2nd quarter valued at about $120,882,000. Finally, Schwab Charles Investment Management Inc. lifted its holdings in Leggett & Platt by 2.0% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 1,054,774 shares of the company’s stock valued at $47,086,000 after purchasing an additional 20,700 shares in the last quarter. Institutional investors own 77.46% of the company’s stock.

A number of research analysts have issued reports on LEG shares. Zacks Investment Research upgraded shares of Leggett & Platt from a “sell” rating to a “hold” rating in a report on Thursday, June 14th. ValuEngine upgraded shares of Leggett & Platt from a “sell” rating to a “hold” rating in a report on Wednesday, August 22nd. One research analyst has rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $48.20.

In other news, insider Matthew C. Flanigan sold 29,248 shares of the stock in a transaction dated Monday, July 30th. The shares were sold at an average price of $44.09, for a total transaction of $1,289,544.32. Following the transaction, the insider now directly owns 115,039 shares in the company, valued at approximately $5,072,069.51. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Matthew C. Flanigan sold 15,672 shares of the stock in a transaction dated Thursday, August 23rd. The stock was sold at an average price of $46.00, for a total transaction of $720,912.00. Following the transaction, the insider now owns 116,341 shares in the company, valued at $5,351,686. The disclosure for this sale can be found here. Corporate insiders own 1.52% of the company’s stock.

Shares of LEG stock opened at $39.94 on Thursday. The stock has a market cap of $5.70 billion, a PE ratio of 16.24, a P/E/G ratio of 1.57 and a beta of 0.84. Leggett & Platt, Inc. has a 1-year low of $39.57 and a 1-year high of $51.99. The company has a debt-to-equity ratio of 1.15, a quick ratio of 1.23 and a current ratio of 1.90.

Leggett & Platt (NYSE:LEG) last announced its quarterly earnings data on Thursday, July 26th. The company reported $0.63 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.61 by $0.02. The business had revenue of $1.10 billion for the quarter, compared to analyst estimates of $1.09 billion. Leggett & Platt had a net margin of 6.83% and a return on equity of 27.73%. The company’s revenue was up 11.4% on a year-over-year basis. During the same period in the prior year, the firm posted $0.64 EPS. Analysts forecast that Leggett & Platt, Inc. will post 2.62 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 15th. Stockholders of record on Monday, September 24th will be issued a dividend of $0.38 per share. The ex-dividend date of this dividend is Friday, September 21st. This represents a $1.52 annualized dividend and a dividend yield of 3.81%. Leggett & Platt’s payout ratio is currently 61.79%.

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.

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

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