Commerce Bank increased its position in Leggett & Platt, Inc. (NYSE:LEG) by 2.7% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 264,658 shares of the company’s stock after purchasing an additional 6,862 shares during the period. Commerce Bank owned 0.20% of Leggett & Platt worth $11,174,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently modified their holdings of LEG. Bank of New York Mellon Corp grew its stake in shares of Leggett & Platt by 27.7% in the fourth quarter. Bank of New York Mellon Corp now owns 5,805,887 shares of the company’s stock worth $208,083,000 after acquiring an additional 1,258,390 shares during the last quarter. Norges Bank purchased a new stake in shares of Leggett & Platt in the fourth quarter worth $40,824,000. Alps Advisors Inc. purchased a new stake in shares of Leggett & Platt in the fourth quarter worth $38,771,000. Oregon Public Employees Retirement Fund grew its stake in shares of Leggett & Platt by 3,237.1% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 1,006,531 shares of the company’s stock worth $28,000 after acquiring an additional 976,369 shares during the last quarter. Finally, BlackRock Inc. grew its stake in shares of Leggett & Platt by 4.1% in the fourth quarter. BlackRock Inc. now owns 12,678,300 shares of the company’s stock worth $454,390,000 after acquiring an additional 499,242 shares during the last quarter. 77.48% of the stock is currently owned by institutional investors.
A number of equities research analysts have recently commented on LEG shares. TheStreet cut Leggett & Platt from a “b-” rating to a “c+” rating in a research note on Friday, May 31st. Zacks Investment Research raised Leggett & Platt from a “sell” rating to a “hold” rating in a report on Tuesday, April 9th. Two investment analysts have rated the stock with a sell rating, one has assigned a hold rating and two have issued a buy rating to the company. Leggett & Platt currently has a consensus rating of “Hold” and a consensus price target of $42.00.
Shares of NYSE LEG traded down $0.38 during trading on Friday, hitting $37.39. The company had a trading volume of 742,757 shares, compared to its average volume of 1,083,975. The company has a quick ratio of 1.13, a current ratio of 1.91 and a debt-to-equity ratio of 2.02. Leggett & Platt, Inc. has a 12 month low of $33.48 and a 12 month high of $46.71. The company has a market capitalization of $4.96 billion, a P/E ratio of 15.08, a price-to-earnings-growth ratio of 1.69 and a beta of 1.06.
Leggett & Platt (NYSE:LEG) last posted its quarterly earnings data on Monday, April 29th. The company reported $0.49 EPS for the quarter, missing the consensus estimate of $0.52 by ($0.03). Leggett & Platt had a return on equity of 28.02% and a net margin of 6.58%. The company had revenue of $1.16 billion during the quarter, compared to the consensus estimate of $1.18 billion. During the same period last year, the business earned $0.57 EPS. The firm’s quarterly revenue was up 12.3% compared to the same quarter last year. Research analysts anticipate that Leggett & Platt, Inc. will post 2.46 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Investors of record on Friday, June 14th will be given a dividend of $0.40 per share. The ex-dividend date is Thursday, June 13th. This represents a $1.60 annualized dividend and a dividend yield of 4.28%. This is a boost from Leggett & Platt’s previous quarterly dividend of $0.38. Leggett & Platt’s dividend payout ratio (DPR) is currently 61.29%.
ILLEGAL ACTIVITY NOTICE: “Commerce Bank Has $11.17 Million Position in Leggett & Platt, Inc. (NYSE:LEG)” was posted by Sundance Herald and is owned by of Sundance Herald. If you are viewing this article on another domain, it was illegally stolen and reposted in violation of U.S. and international copyright & trademark law. The correct version of this article can be accessed at https://sundanceherald.com/2019/06/14/commerce-bank-acquires-6862-shares-of-leggett-platt-inc-leg.html.
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.
Recommended Story: Why does the United States have a lingering trade deficit?
Receive News & Ratings for Leggett & Platt Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Leggett & Platt and related companies with MarketBeat.com's FREE daily email newsletter.