DT Investment Partners LLC boosted its holdings in Leggett & Platt, Inc. (NYSE:LEG) by 13.8% during the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 68,927 shares of the company’s stock after acquiring an additional 8,363 shares during the quarter. DT Investment Partners LLC owned 0.05% of Leggett & Platt worth $2,822,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. First Trust Advisors LP lifted its position in Leggett & Platt by 9.7% in the 3rd quarter. First Trust Advisors LP now owns 1,191,774 shares of the company’s stock valued at $48,791,000 after acquiring an additional 105,098 shares in the last quarter. Creative Planning lifted its position in Leggett & Platt by 7.5% in the 3rd quarter. Creative Planning now owns 18,598 shares of the company’s stock valued at $761,000 after acquiring an additional 1,292 shares in the last quarter. Mackay Shields LLC lifted its position in Leggett & Platt by 4.6% in the 3rd quarter. Mackay Shields LLC now owns 20,937 shares of the company’s stock valued at $857,000 after acquiring an additional 922 shares in the last quarter. IFM Investors Pty Ltd lifted its position in Leggett & Platt by 38.8% in the 3rd quarter. IFM Investors Pty Ltd now owns 12,798 shares of the company’s stock valued at $524,000 after acquiring an additional 3,578 shares in the last quarter. Finally, Sigma Planning Corp bought a new position in Leggett & Platt in the 3rd quarter valued at about $230,000. 78.21% of the stock is currently owned by institutional investors and hedge funds.
In other Leggett & Platt news, CEO Karl G. Glassman sold 10,683 shares of Leggett & Platt stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $42.13, for a total transaction of $450,074.79. Following the transaction, the chief executive officer now owns 460,505 shares of the company’s stock, valued at approximately $19,401,075.65. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Phoebe A. Wood sold 23,260 shares of Leggett & Platt stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $54.50, for a total transaction of $1,267,670.00. Following the transaction, the director now directly owns 53,404 shares in the company, valued at approximately $2,910,518. The disclosure for this sale can be found here. In the last three months, insiders have sold 81,628 shares of company stock worth $4,180,713. Insiders own 1.45% of the company’s stock.
Leggett & Platt (NYSE:LEG) last posted its earnings results on Monday, October 28th. The company reported $0.76 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.67 by $0.09. Leggett & Platt had a net margin of 6.45% and a return on equity of 18.05%. The firm had revenue of $1.24 billion for the quarter, compared to analysts’ expectations of $1.21 billion. During the same quarter last year, the firm earned $0.66 EPS. The company’s quarterly revenue was up 13.5% compared to the same quarter last year. On average, equities analysts anticipate that Leggett & Platt, Inc. will post 2.56 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Friday, December 13th will be given a dividend of $0.40 per share. The ex-dividend date of this dividend is Thursday, December 12th. This represents a $1.60 annualized dividend and a dividend yield of 2.90%. Leggett & Platt’s dividend payout ratio is currently 64.52%.
LEG has been the topic of several recent research reports. SunTrust Banks cut shares of Leggett & Platt from a “buy” rating to a “hold” rating in a research report on Wednesday, October 30th. TheStreet raised shares of Leggett & Platt from a “c+” rating to a “b-” rating in a research report on Friday, September 27th. Raymond James cut shares of Leggett & Platt from an “outperform” rating to a “market perform” rating in a research report on Wednesday, July 24th. Finally, ValuEngine raised shares of Leggett & Platt from a “sell” rating to a “hold” rating in a research report on Wednesday, October 30th. One investment analyst has rated the stock with a sell rating and four have assigned a hold rating to the stock. Leggett & Platt currently has a consensus rating of “Hold”.
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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