Cascade Investment Advisors Inc. bought a new position in shares of Leggett & Platt, Incorporated (NYSE:LEG – Get Rating) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 28,570 shares of the company’s stock, valued at approximately $1,176,000.
Several other institutional investors have also recently bought and sold shares of the business. Rhumbline Advisers lifted its position in shares of Leggett & Platt by 42.6% during the 4th quarter. Rhumbline Advisers now owns 363,647 shares of the company’s stock worth $14,968,000 after buying an additional 108,580 shares in the last quarter. Regal Investment Advisors LLC lifted its position in shares of Leggett & Platt by 2.1% during the 4th quarter. Regal Investment Advisors LLC now owns 27,700 shares of the company’s stock worth $1,140,000 after buying an additional 564 shares in the last quarter. Confluence Wealth Services Inc. bought a new stake in shares of Leggett & Platt in the 4th quarter worth approximately $57,000. Glenview Trust Co bought a new stake in shares of Leggett & Platt in the 4th quarter worth approximately $228,000. Finally, Paradigm Financial Partners LLC bought a new stake in shares of Leggett & Platt in the 4th quarter worth approximately $438,000. 72.99% of the stock is currently owned by hedge funds and other institutional investors.
A number of equities research analysts recently commented on the stock. TheStreet cut shares of Leggett & Platt from a “b-” rating to a “c+” rating in a report on Friday, March 11th. Raymond James cut shares of Leggett & Platt from an “outperform” rating to a “market perform” rating in a report on Wednesday, May 4th. Piper Sandler lowered their price target on shares of Leggett & Platt from $43.00 to $38.00 and set a “neutral” rating on the stock in a report on Thursday, April 7th. Zacks Investment Research raised shares of Leggett & Platt from a “strong sell” rating to a “hold” rating and set a $39.00 price target on the stock in a report on Friday, May 6th. Finally, StockNews.com raised shares of Leggett & Platt from a “sell” rating to a “hold” rating in a report on Tuesday, May 3rd. Four equities research analysts have rated the stock with a hold rating, Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $42.33.
Leggett & Platt (NYSE:LEG – Get Rating) last issued its earnings results on Monday, May 2nd. The company reported $0.66 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.56 by $0.10. Leggett & Platt had a net margin of 7.73% and a return on equity of 23.88%. During the same quarter in the previous year, the business posted $0.64 EPS. As a group, analysts predict that Leggett & Platt, Incorporated will post 2.76 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Friday, April 15th. Stockholders of record on Tuesday, March 15th were given a dividend of $0.42 per share. The ex-dividend date of this dividend was Monday, March 14th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 4.48%. Leggett & Platt’s dividend payout ratio (DPR) is currently 56.76%.
In other news, Director Robert E. Brunner sold 6,076 shares of the business’s stock in a transaction on Thursday, February 17th. The shares were sold at an average price of $38.89, for a total transaction of $236,295.64. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 1.57% of the stock is owned by insiders.
Leggett & Platt Company Profile (Get Rating)
Leggett & Platt, Incorporated designs, manufactures, and markets engineered components and products worldwide. It operates through three segments: Bedding Products; Specialized Products; and Furniture, Flooring & Textile Products. The company offers steel rods, drawn wires, foam chemicals and additives, innersprings, specialty foams, private label finished mattresses, mattress foundations, wire forms for mattress foundations, adjustable beds, industrial sewing and quilting machines, and mattress packaging and glue drying equipment, as well as machines to produce innersprings for industrial users of steel rods and wires, manufacturers of finished bedding, big box and e-commerce retailers, bedding brands and mattress retailers, department stores, and home improvement centers.
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