Pennsylvania Trust Co purchased a new position in shares of Leggett & Platt, Inc. (NYSE:LEG) in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 4,977 shares of the company’s stock, valued at approximately $404,000.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in LEG. FMR LLC raised its holdings in Leggett & Platt by 6.7% in the third quarter. FMR LLC now owns 57,137 shares of the company’s stock worth $2,502,000 after purchasing an additional 3,574 shares in the last quarter. JPMorgan Chase & Co. raised its holdings in Leggett & Platt by 9.9% in the third quarter. JPMorgan Chase & Co. now owns 714,340 shares of the company’s stock worth $31,282,000 after purchasing an additional 64,324 shares in the last quarter. LPL Financial LLC raised its holdings in Leggett & Platt by 28.5% in the third quarter. LPL Financial LLC now owns 23,896 shares of the company’s stock worth $1,046,000 after purchasing an additional 5,294 shares in the last quarter. Pacer Advisors Inc. raised its holdings in Leggett & Platt by 33.7% in the third quarter. Pacer Advisors Inc. now owns 7,340 shares of the company’s stock worth $321,000 after purchasing an additional 1,852 shares in the last quarter. Finally, Man Group plc raised its holdings in Leggett & Platt by 190.2% in the third quarter. Man Group plc now owns 35,327 shares of the company’s stock worth $1,547,000 after purchasing an additional 23,154 shares in the last quarter. Institutional investors and hedge funds own 79.65% of the company’s stock.
NYSE:LEG traded down $0.37 on Wednesday, hitting $37.55. The stock had a trading volume of 814,400 shares, compared to its average volume of 1,101,402. The stock has a market capitalization of $4.97 billion, a price-to-earnings ratio of 15.14, a PEG ratio of 1.67 and a beta of 1.04. The company has a debt-to-equity ratio of 2.02, a quick ratio of 1.13 and a current ratio of 1.91. Leggett & Platt, Inc. has a 52-week low of $33.48 and a 52-week high of $46.71.
Leggett & Platt (NYSE:LEG) last announced its earnings results on Monday, April 29th. The company reported $0.49 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.52 by ($0.03). The firm had revenue of $1.16 billion during the quarter, compared to analysts’ expectations of $1.18 billion. Leggett & Platt had a return on equity of 28.02% and a net margin of 6.58%. The company’s revenue for the quarter was up 12.3% on a year-over-year basis. During the same period in the previous year, the business posted $0.57 earnings per share. As a group, equities analysts forecast that Leggett & Platt, Inc. will post 2.46 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Friday, June 14th will be given a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 4.26%. This is a boost from Leggett & Platt’s previous quarterly dividend of $0.38. The ex-dividend date is Thursday, June 13th. Leggett & Platt’s dividend payout ratio (DPR) is presently 61.29%.
In other Leggett & Platt news, SVP Russell J. Iorio sold 16,042 shares of the firm’s stock in a transaction dated Wednesday, February 27th. The stock was sold at an average price of $45.73, for a total value of $733,600.66. Following the transaction, the senior vice president now directly owns 71,149 shares of the company’s stock, valued at $3,253,643.77. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 1.45% of the company’s stock.
A number of research firms have issued reports on LEG. Zacks Investment Research upgraded Leggett & Platt from a “sell” rating to a “hold” rating in a report on Tuesday, April 9th. Gabelli downgraded Leggett & Platt from a “buy” rating to a “hold” rating in a report on Wednesday, February 6th. Finally, TheStreet raised Leggett & Platt from a “c+” rating to a “b-” rating in a research note on Friday, March 1st. Two analysts have rated the stock with a sell rating, one has given a hold rating and three have given a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $44.67.
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About Leggett & Platt
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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