Amalgamated Bank decreased its holdings in Leggett & Platt, Inc. (NYSE:LEG) by 1.6% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 26,227 shares of the company’s stock after selling 424 shares during the quarter. Amalgamated Bank’s holdings in Leggett & Platt were worth $940,000 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. Pacer Advisors Inc. grew its stake in Leggett & Platt by 33.7% in the 3rd quarter. Pacer Advisors Inc. now owns 7,340 shares of the company’s stock valued at $321,000 after acquiring an additional 1,852 shares during the period. State of Alaska Department of Revenue grew its position in shares of Leggett & Platt by 7.5% in the fourth quarter. State of Alaska Department of Revenue now owns 50,444 shares of the company’s stock valued at $1,806,000 after purchasing an additional 3,505 shares during the period. Berkshire Asset Management LLC PA grew its position in shares of Leggett & Platt by 6.7% in the fourth quarter. Berkshire Asset Management LLC PA now owns 556,029 shares of the company’s stock valued at $19,928,000 after purchasing an additional 34,767 shares during the period. Vanguard Group Inc increased its stake in shares of Leggett & Platt by 1.1% during the third quarter. Vanguard Group Inc now owns 13,988,152 shares of the company’s stock worth $612,540,000 after purchasing an additional 158,966 shares in the last quarter. Finally, Gotham Asset Management LLC purchased a new stake in shares of Leggett & Platt during the fourth quarter worth about $5,110,000. 79.93% of the stock is currently owned by institutional investors.
In other news, Director Joseph W. Mcclanathan sold 10,143 shares of the business’s stock in a transaction that occurred on Thursday, February 14th. The stock was sold at an average price of $43.83, for a total transaction of $444,567.69. Following the transaction, the director now directly owns 26,034 shares in the company, valued at approximately $1,141,070.22. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, SVP Russell J. Iorio sold 16,042 shares of the business’s stock in a transaction that occurred on 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 owns 71,149 shares in the company, valued at $3,253,643.77. The disclosure for this sale can be found here. Insiders sold 44,635 shares of company stock valued at $2,012,477 over the last quarter. Company insiders own 1.52% of the company’s stock.
Several research analysts recently weighed in on LEG shares. TheStreet upgraded shares of Leggett & Platt from a “c+” rating to a “b-” rating in a research report on Friday, March 1st. Gabelli cut Leggett & Platt from a “buy” rating to a “hold” rating in a report on Wednesday, February 6th. Finally, Zacks Investment Research lowered Leggett & Platt from a “hold” rating to a “sell” rating in a research note on Thursday, February 7th. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $45.80.
Shares of LEG opened at $43.56 on Friday. Leggett & Platt, Inc. has a one year low of $33.48 and a one year high of $46.71. The company has a debt-to-equity ratio of 1.01, a current ratio of 1.87 and a quick ratio of 1.09. The company has a market cap of $5.63 billion, a P/E ratio of 17.56, a PEG ratio of 1.86 and a beta of 1.09.
Leggett & Platt (NYSE:LEG) last announced its quarterly earnings data on Monday, February 4th. The company reported $0.62 earnings per share for the quarter, beating analysts’ consensus estimates of $0.57 by $0.05. Leggett & Platt had a return on equity of 28.99% and a net margin of 7.16%. The company had revenue of $1.05 billion for the quarter, compared to analyst estimates of $1.02 billion. During the same quarter last year, the firm posted $0.59 EPS. The firm’s revenue for the quarter was up 6.7% on a year-over-year basis. As a group, equities analysts predict that Leggett & Platt, Inc. will post 2.53 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, April 15th. Stockholders of record on Friday, March 15th will be given a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a dividend yield of 3.49%. The ex-dividend date is Thursday, March 14th. Leggett & Platt’s dividend payout ratio (DPR) is 61.29%.
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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