Retirement Systems of Alabama raised its holdings in Leggett & Platt, Inc. (NYSE:LEG) by 1.7% in the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 61,032 shares of the company’s stock after acquiring an additional 1,008 shares during the period. Retirement Systems of Alabama’s holdings in Leggett & Platt were worth $2,577,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also modified their holdings of the business. Suntrust Banks Inc. increased its holdings in shares of Leggett & Platt by 1.5% during the 4th quarter. Suntrust Banks Inc. now owns 15,980 shares of the company’s stock worth $573,000 after buying an additional 233 shares during the last quarter. HL Financial Services LLC boosted its position in Leggett & Platt by 4.5% during the 4th quarter. HL Financial Services LLC now owns 6,737 shares of the company’s stock worth $241,000 after purchasing an additional 288 shares during the period. Sun Life Financial INC boosted its position in Leggett & Platt by 1.5% during the 4th quarter. Sun Life Financial INC now owns 23,407 shares of the company’s stock worth $839,000 after purchasing an additional 348 shares during the period. Capital Investment Advisors LLC boosted its position in Leggett & Platt by 5.6% during the 4th quarter. Capital Investment Advisors LLC now owns 7,149 shares of the company’s stock worth $256,000 after purchasing an additional 378 shares during the period. Finally, Oakworth Capital Inc. boosted its position in Leggett & Platt by 4.8% during the 4th quarter. Oakworth Capital Inc. now owns 8,554 shares of the company’s stock worth $307,000 after purchasing an additional 390 shares during the period. Institutional investors own 79.65% of the company’s stock.
LEG has been the subject of a number of research reports. Zacks Investment Research cut shares of Leggett & Platt from a “hold” rating to a “sell” rating in a research report on Thursday, February 7th. TheStreet raised shares of Leggett & Platt from a “c+” rating to a “b-” rating in a research report on Friday, March 1st. Finally, Gabelli cut shares of Leggett & Platt from a “buy” rating to a “hold” rating in a research report on Wednesday, February 6th. Two research 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’s stock. The company presently has an average rating of “Hold” and a consensus target price of $44.67.
In other news, SVP Russell J. Iorio sold 16,042 shares of the company’s stock in a transaction dated Wednesday, February 27th. The shares were sold at an average price of $45.73, for a total value of $733,600.66. Following the sale, the senior vice president now owns 71,149 shares in the company, valued at approximately $3,253,643.77. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 1.45% of the company’s stock.
NYSE:LEG traded down $0.37 on Wednesday, reaching $37.55. The stock had a trading volume of 814,400 shares, compared to its average volume of 1,101,402. The company has a debt-to-equity ratio of 2.02, a current ratio of 1.91 and a quick ratio of 1.13. The stock has a market cap of $4.97 billion, a P/E ratio of 15.14, a PEG ratio of 1.67 and a beta of 1.04. Leggett & Platt, Inc. has a 12-month low of $33.48 and a 12-month high of $46.71.
Leggett & Platt (NYSE:LEG) last posted its quarterly earnings data on Monday, April 29th. The company reported $0.49 earnings per share 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 analysts’ expectations of $1.18 billion. Leggett & Platt had a net margin of 6.58% and a return on equity of 28.02%. The business’s quarterly revenue was up 12.3% on a year-over-year basis. During the same period in the previous year, the company earned $0.57 earnings per share. As a group, equities analysts expect that Leggett & Platt, Inc. will post 2.46 earnings per share for the current year.
The company also recently disclosed 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 is a boost from Leggett & Platt’s previous quarterly dividend of $0.38. This represents a $1.60 dividend on an annualized basis and a yield of 4.26%. The ex-dividend date of this dividend is Thursday, June 13th. Leggett & Platt’s dividend payout ratio is presently 61.29%.
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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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