Fjarde AP Fonden Fourth Swedish National Pension Fund cut its stake in Leggett & Platt, Inc. (NYSE:LEG) by 5.7% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 45,023 shares of the company’s stock after selling 2,700 shares during the period. Fjarde AP Fonden Fourth Swedish National Pension Fund’s holdings in Leggett & Platt were worth $1,972,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Nisa Investment Advisors LLC purchased a new stake in Leggett & Platt in the 2nd quarter worth $1,072,000. Cornerstone Wealth Management LLC purchased a new stake in Leggett & Platt in the 2nd quarter worth $1,176,000. BNP Paribas Arbitrage SA increased its stake in Leggett & Platt by 62.5% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 63,167 shares of the company’s stock worth $2,820,000 after buying an additional 24,292 shares in the last quarter. Cullen Frost Bankers Inc. increased its stake in Leggett & Platt by 24.0% in the 2nd quarter. Cullen Frost Bankers Inc. now owns 8,849 shares of the company’s stock worth $395,000 after buying an additional 1,715 shares in the last quarter. Finally, BP PLC purchased a new stake in Leggett & Platt in the 2nd quarter worth $804,000. 76.49% of the stock is currently owned by institutional investors and hedge funds.
Shares of NYSE:LEG opened at $38.78 on Friday. The company has a quick ratio of 1.32, a current ratio of 2.12 and a debt-to-equity ratio of 1.16. Leggett & Platt, Inc. has a 12 month low of $34.07 and a 12 month high of $49.88. The stock has a market capitalization of $5.10 billion, a P/E ratio of 15.89, a price-to-earnings-growth ratio of 1.67 and a beta of 1.05.
Leggett & Platt (NYSE:LEG) last announced its quarterly earnings results on Thursday, October 25th. The company reported $0.67 EPS for the quarter, missing the Zacks’ consensus estimate of $0.72 by ($0.05). Leggett & Platt had a net margin of 6.87% and a return on equity of 28.37%. The business had revenue of $1.09 billion during the quarter, compared to the consensus estimate of $1.10 billion. On average, sell-side analysts forecast that Leggett & Platt, Inc. will post 2.44 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, January 15th. Investors of record on Friday, December 14th will be issued a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a dividend yield of 3.92%. The ex-dividend date is Thursday, December 13th. Leggett & Platt’s payout ratio is 61.79%.
LEG has been the subject of several research reports. ValuEngine raised shares of Leggett & Platt from a “sell” rating to a “hold” rating in a report on Wednesday, August 22nd. Zacks Investment Research raised shares of Leggett & Platt from a “sell” rating to a “hold” rating in a report on Friday, August 24th. Raymond James downgraded shares of Leggett & Platt from a “strong-buy” rating to an “outperform” rating and set a $44.00 price objective for the company. in a report on Monday, October 29th. TheStreet downgraded shares of Leggett & Platt from a “b-” rating to a “c+” rating in a report on Friday, October 26th. Finally, SunTrust Banks lowered their price target on shares of Leggett & Platt to $40.00 and set an “outperform” rating for the company in a report on Tuesday, October 30th. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and four have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $46.17.
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Leggett & Platt 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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