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Palisade Asset Management LLC increased its holdings in the shares of Leggett & Platt, Inc. (NYSE: LEG) by 2.0%. The institutional investor held 63,691 shares in the company after purchasing 1,241 additional shares during the quarter, representing a value of $ 2,843,000 for Palisade Asset Management LLC. A number of other hedge funds also recently changed their positions in LEG, two Sigma advisers purchased a new position in Leggett & Platt during the fourth quarter, valued at approximately $ 267,000. strengthened its position in Leggett & Platt shares by 3.5% in the fourth quarter. Teachers Advisors LLC now holds 334,018 shares of the company valued at $ 15,943,000 after the purchase of 11,354 additional shares during the period. Cornerstone Capital Management Holdings LLC. strengthened its position in Leggett & Platt shares by 7.7% in the fourth quarter. Cornerstone Capital Management Holdings LLC. now holds 24,783 shares of the Company valued at $ 1,182,000 after purchasing 1,778 additional shares during the period. Ladenburg Thalmann Financial Services Inc. strengthened its position in Leggett & Platt shares by 15.3% in the fourth quarter. Ladenburg Thalmann Financial Services Inc. now holds 16,700 shares of the Company valued at $ 797,000 after purchasing 2,218 additional shares during the period. Lastly, LPL Financial LLC strengthened its position in Leggett & Platt shares by 17.2% in the fourth quarter. LPL Financial LLC now owns 13,210 shares of the Company valued at $ 631,000 after purchasing 1,939 additional shares during the period. 75.88% of the shares are held by institutional investors and hedge funds.
In other Leggett & Platt news, director Robert Ted Enloe III sold 5,328 shares of the fund in a transaction dated Friday, June 1. The stock was sold at an average price of $ 41.47, for a total transaction of $ 220,952.16. As a result of the sale, the director now holds directly 38,376 shares of the company, valued at approximately $ 1,591,452.72. The sale has been disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The insiders of the company own 1.52% of the shares of the company.
A number of stock badysts have recently weighed on the company. Zacks Investment Research upgraded Leggett & Platt from a "hold" rating to a "buy" rating and set a target price of $ 49.00 for the company in a research report on Wednesday, April 11. Stifel Nicolaus upgraded Leggett & Platt from a "hold" rating to a "buy" rating and increased its price target for the company from $ 48.00 to $ 50.00 in a research report on Thursday May 31st. SunTrust banks lowered their price target on Leggett & Platt to $ 48.00 and established a "buy" rating for the company in a research report on Tuesday, May 1. ValuEngine lowered Leggett & Platt from a "hold" rating to a "sell" rating in a research report on Wednesday, May 2nd. Finally, Credit Suisse Group lowered its price target on Leggett & Platt from $ 51.00 to $ 46.00 and set a "neutral" rating for the company in a research report on Friday, April 27th. Two badysts evaluated the stock with a sales note, three badigned a reserve rating and three gave a purchase note to the company. Leggett & Platt earned an average "Hold" rating and a $ 48.20 consensual price goal
Leggett & Platt opened Friday at $ 44.09, reports Marketbeat. The company has a debt ratio of 1.04, a ratio of 1.85 and a ratio of 1.23. Leggett & Platt, Inc. has a minimum of $ 39.57 in one year and $ 51.99 in one year. The company has a market capitalization of $ 5.87 billion, a price / earnings ratio of 17.92, a P / E / G ratio of 1.54 and a beta of 0.89.
Leggett & Platt (NYSE: LEG) last published its quarterly results on Thursday, July 26th. The company reported earnings per share of $ 0.63 for the quarter, exceeding Zack's consensus estimate of $ 0.61 per $ 0.02. Leggett & Platt posted a return on equity of 27.92% and a net margin of 7.09%. The business generated revenue of $ 1.10 billion during the quarter, compared with $ 1.09 billion for badysts. During the same quarter last year, the company posted earnings per share of $ 0.64. Leggett & Platt 's business figure for the quarter increased 11.4% from one year to the next. Research badysts expect Leggett & Platt, Inc. to post EPS of 2.65 for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Friday, July 13. Shareholders of record on Friday, June 15 received a dividend of $ 0.38 per share. The ex-dividend date of this dividend was Thursday, June 14. This is a positive change from Leggett & Platt's previous quarterly dividend of $ 0.36. This represents an annualized dividend of $ 1.52 and a yield of 3.45%. The dividend distribution rate (DPR) of Leggett & Platt is currently 61.79%.
Company Profile Leggett & Platt
Leggett & Platt, Incorporated designs and produces various components and technical products around the world. It operates through four segments: residential products, furniture products, industrial products and specialty products. The residential products segment offers springs, wire shapes and wire-forming machines in 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.
See also: Are the badysts' notes accurate?
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