Union Bankshares Corp Trims Position in Leggett & Platt, Inc. (NYSE:LEG)

Union Bankshares Corp cut its stake in Leggett & Platt, Inc. (NYSE:LEG) by 8.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 50,509 shares of the company’s stock after selling 4,888 shares during the period. Union Bankshares Corp’s holdings in Leggett & Platt were worth $2,411,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. BlackRock Inc. increased its stake in Leggett & Platt by 0.6% in the second quarter. BlackRock Inc. now owns 12,019,449 shares of the company’s stock valued at $631,381,000 after purchasing an additional 76,484 shares in the last quarter. Bank of New York Mellon Corp boosted its holdings in shares of Leggett & Platt by 78.4% in the third quarter. Bank of New York Mellon Corp now owns 2,549,592 shares of the company’s stock valued at $121,693,000 after buying an additional 1,120,320 shares during the period. TimesSquare Capital Management LLC acquired a new position in shares of Leggett & Platt in the third quarter valued at approximately $81,509,000. Franklin Resources Inc. boosted its holdings in shares of Leggett & Platt by 0.9% in the second quarter. Franklin Resources Inc. now owns 1,584,782 shares of the company’s stock valued at $83,249,000 after buying an additional 13,837 shares during the period. Finally, Villere ST Denis J & Co. LLC boosted its holdings in Leggett & Platt by 0.8% during the third quarter. Villere ST Denis J & Co. LLC now owns 1,572,514 shares of the company’s stock worth $75,056,000 after purchasing an additional 12,800 shares during the last quarter. 68.49% of the stock is owned by institutional investors.

Shares of Leggett & Platt, Inc. (LEG) traded down $0.36 during trading on Wednesday, reaching $48.44. 1,045,200 shares of the company’s stock were exchanged, compared to its average volume of 852,380. The firm has a market capitalization of $6,420.00, a P/E ratio of 19.61, a price-to-earnings-growth ratio of 1.83 and a beta of 1.03. The company has a debt-to-equity ratio of 0.89, a current ratio of 1.74 and a quick ratio of 1.11. Leggett & Platt, Inc. has a 12-month low of $43.17 and a 12-month high of $54.97.

Leggett & Platt (NYSE:LEG) last posted its quarterly earnings results on Thursday, October 26th. The company reported $0.61 earnings per share for the quarter, beating analysts’ consensus estimates of $0.60 by $0.01. Leggett & Platt had a net margin of 8.75% and a return on equity of 29.60%. The company had revenue of $1.01 billion for the quarter, compared to the consensus estimate of $1.01 billion. During the same period last year, the company posted $0.67 EPS. The firm’s quarterly revenue was up 6.4% compared to the same quarter last year. research analysts forecast that Leggett & Platt, Inc. will post 2.48 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which was paid on Friday, January 12th. Investors of record on Friday, December 15th were given a dividend of $0.36 per share. The ex-dividend date was Thursday, December 14th. This represents a $1.44 annualized dividend and a yield of 2.97%. Leggett & Platt’s dividend payout ratio is presently 58.30%.

In other Leggett & Platt news, SVP Scott S. Douglas sold 3,000 shares of the firm’s stock in a transaction that occurred on Monday, November 20th. The shares were sold at an average price of $46.45, for a total transaction of $139,350.00. Following the completion of the transaction, the senior vice president now owns 35,289 shares in the company, valued at approximately $1,639,174.05. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 1.78% of the stock is owned by company insiders.

Several brokerages recently commented on LEG. Piper Jaffray Companies cut shares of Leggett & Platt from an “overweight” rating to a “neutral” rating and set a $46.00 target price for the company. in a report on Monday, October 30th. Zacks Investment Research lowered shares of Leggett & Platt from a “hold” rating to a “sell” rating in a research report on Tuesday, October 10th. Finally, SunTrust Banks reissued a “buy” rating and issued a $53.00 price objective on shares of Leggett & Platt in a research report on Friday, October 27th. One analyst has rated the stock with a sell rating, four have assigned a hold rating, three have issued a buy rating and two have issued a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of $54.25.

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About Leggett & Platt

Leggett & Platt, Incorporated is a manufacturer that conceives, designs and produces a range of engineered components and products found in homes, offices and automobiles. The Company operates in four segments: Residential Furnishings, Commercial Products, Industrial Materials and Specialized Products.

Institutional Ownership by Quarter for Leggett & Platt (NYSE:LEG)

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