UBS Group AG increased its stake in shares of Leggett & Platt, Incorporated (NYSE:LEG) by 5.8% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 242,162 shares of the company’s stock after buying an additional 13,299 shares during the period. UBS Group AG’s holdings in Leggett & Platt, were worth $12,185,000 as of its most recent filing with the SEC.
Several other hedge funds also recently added to or reduced their stakes in LEG. Caisse DE Depot ET Placement DU Quebec raised its stake in Leggett & Platt, by 5.3% in the first quarter. Caisse DE Depot ET Placement DU Quebec now owns 33,667 shares of the company’s stock valued at $1,696,000 after buying an additional 1,700 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in Leggett & Platt, by 0.9% in the first quarter. Dimensional Fund Advisors LP now owns 587,140 shares of the company’s stock valued at $29,545,000 after buying an additional 4,952 shares in the last quarter. NorthCoast Asset Management LLC bought a new stake in Leggett & Platt, during the first quarter valued at $768,000. Geode Capital Management LLC raised its stake in Leggett & Platt, by 10.8% in the first quarter. Geode Capital Management LLC now owns 1,445,309 shares of the company’s stock valued at $72,633,000 after buying an additional 141,050 shares in the last quarter. Finally, Vanguard Group Inc. raised its stake in Leggett & Platt, by 3.2% in the first quarter. Vanguard Group Inc. now owns 15,434,519 shares of the company’s stock valued at $776,664,000 after buying an additional 481,689 shares in the last quarter. Institutional investors own 72.74% of the company’s stock.
Shares of Leggett & Platt, Incorporated (NYSE LEG) traded up 0.17% during mid-day trading on Friday, reaching $52.39. 424,413 shares of the company’s stock were exchanged. The stock has a 50-day moving average of $52.32 and a 200 day moving average of $50.15. The firm has a market capitalization of $6.93 billion, a P/E ratio of 19.07 and a beta of 1.00. Leggett & Platt, Incorporated has a one year low of $44.02 and a one year high of $54.97.
Leggett & Platt, (NYSE:LEG) last posted its quarterly earnings data on Thursday, April 27th. The company reported $0.62 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.59 by $0.03. The business had revenue of $960.30 million during the quarter, compared to the consensus estimate of $958.98 million. Leggett & Platt, had a return on equity of 31.91% and a net margin of 10.14%. The firm’s quarterly revenue was up 2.3% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.63 earnings per share. On average, analysts forecast that Leggett & Platt, Incorporated will post $2.63 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 14th. Shareholders of record on Thursday, June 15th will be issued a $0.36 dividend. This is an increase from Leggett & Platt,’s previous quarterly dividend of $0.34. The ex-dividend date of this dividend is Tuesday, June 13th. This represents a $1.44 dividend on an annualized basis and a yield of 2.75%. Leggett & Platt,’s dividend payout ratio is 52.36%.
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Several analysts have recently weighed in on the stock. BidaskClub lowered shares of Leggett & Platt, from a “buy” rating to a “hold” rating in a research note on Friday, June 9th. Piper Jaffray Companies assumed coverage on shares of Leggett & Platt, in a research note on Monday, June 5th. They issued an “overweight” rating and a $59.00 price objective for the company. Zacks Investment Research lowered shares of Leggett & Platt, from a “buy” rating to a “hold” rating in a research note on Monday, May 15th. Finally, Stifel Nicolaus lifted their price objective on shares of Leggett & Platt, from $48.00 to $52.00 and gave the company a “hold” rating in a research note on Monday, April 3rd. Six analysts have rated the stock with a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $56.00.
In other news, insider Karl G. Glassman sold 13,277 shares of the firm’s stock in a transaction on Monday, May 8th. The stock was sold at an average price of $53.79, for a total transaction of $714,169.83. Following the completion of the transaction, the insider now directly owns 337,455 shares in the company, valued at $18,151,704.45. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Scott S. Douglas sold 5,000 shares of the firm’s stock in a transaction on Wednesday, May 3rd. The shares were sold at an average price of $53.26, for a total value of $266,300.00. Following the transaction, the senior vice president now owns 36,133 shares of the company’s stock, valued at $1,924,443.58. The disclosure for this sale can be found here. In the last quarter, insiders sold 46,320 shares of company stock valued at $2,477,652. 1.78% of the stock is owned by corporate insiders.
Leggett & Platt, Company Profile
Leggett & Platt, Incorporated is a manufacturer that conceives, designs and produces a range of engineered components and products found in homes, offices and automobiles. The Company operates in four segments: Residential Furnishings, Commercial Products, Industrial Materials and Specialized Products.
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