Commonwealth Equity Services LLC lessened its holdings in shares of Leggett & Platt, Inc. (NYSE:LEG) by 5.9% in the third quarter, according to its most recent filing with the SEC. The firm owned 50,494 shares of the company’s stock after selling 3,193 shares during the period. Commonwealth Equity Services LLC’s holdings in Leggett & Platt were worth $2,211,000 as of its most recent filing with the SEC.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Victory Capital Management Inc. grew its holdings in Leggett & Platt by 0.5% during the 2nd quarter. Victory Capital Management Inc. now owns 261,331 shares of the company’s stock worth $11,666,000 after acquiring an additional 1,191 shares during the period. Hexavest Inc. grew its holdings in Leggett & Platt by 25.5% during the 3rd quarter. Hexavest Inc. now owns 6,124 shares of the company’s stock worth $268,000 after acquiring an additional 1,245 shares during the period. Monroe Bank & Trust MI grew its holdings in Leggett & Platt by 3.6% during the 2nd quarter. Monroe Bank & Trust MI now owns 36,422 shares of the company’s stock worth $1,626,000 after acquiring an additional 1,281 shares during the period. Verity & Verity LLC grew its holdings in Leggett & Platt by 2.2% during the 3rd quarter. Verity & Verity LLC now owns 61,044 shares of the company’s stock worth $2,673,000 after acquiring an additional 1,296 shares during the period. Finally, Andesa Financial Management Inc. grew its holdings in Leggett & Platt by 4.8% during the 2nd quarter. Andesa Financial Management Inc. now owns 29,695 shares of the company’s stock worth $1,326,000 after acquiring an additional 1,355 shares during the period. 76.49% of the stock is owned by hedge funds and other institutional investors.
A number of analysts have commented on the stock. Raymond James lowered shares of Leggett & Platt from a “strong-buy” rating to an “outperform” rating and set a $44.00 target price for the company. in a report on Monday, October 29th. Zacks Investment Research raised shares of Leggett & Platt from a “sell” rating to a “hold” rating in a report on Monday, October 1st. ValuEngine lowered shares of Leggett & Platt from a “hold” rating to a “sell” rating in a report on Tuesday, October 2nd. SunTrust Banks decreased their price target on shares of Leggett & Platt to $40.00 and set an “outperform” rating for the company in a report on Tuesday, October 30th. Finally, TheStreet lowered shares of Leggett & Platt from a “b-” rating to a “c+” rating in a report on Friday, October 26th. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and four have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $46.17.
Leggett & Platt (NYSE:LEG) last announced its quarterly earnings results on Thursday, October 25th. The company reported $0.67 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.72 by ($0.05). Leggett & Platt had a net margin of 6.87% and a return on equity of 28.37%. The firm had revenue of $1.09 billion during the quarter, compared to analyst estimates of $1.10 billion. Equities analysts expect that Leggett & Platt, Inc. will post 2.44 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, January 15th. Stockholders of record on Friday, December 14th will be issued a $0.38 dividend. This represents a $1.52 annualized dividend and a dividend yield of 4.00%. The ex-dividend date of this dividend is Thursday, December 13th. Leggett & Platt’s dividend payout ratio (DPR) is 61.79%.
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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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