AHL Partners LLP Grows Position in Leggett & Platt, Incorporated (LEG)
AHL Partners LLP increased its holdings in Leggett & Platt, Incorporated (NYSE:LEG) by 78.3% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 155,446 shares of the company’s stock after purchasing an additional 68,247 shares during the quarter. AHL Partners LLP owned 0.12% of Leggett & Platt, worth $8,166,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in LEG. Alps Advisors Inc. lifted its stake in Leggett & Platt, by 0.3% during the second quarter. Alps Advisors Inc. now owns 9,729 shares of the company’s stock valued at $511,000 after purchasing an additional 25 shares during the last quarter. CIBC Asset Management Inc grew its position in Leggett & Platt, by 0.3% in the second quarter. CIBC Asset Management Inc now owns 12,828 shares of the company’s stock worth $674,000 after buying an additional 44 shares during the last quarter. Ronna Sue Cohen grew its position in Leggett & Platt, by 0.6% in the second quarter. Ronna Sue Cohen now owns 8,220 shares of the company’s stock worth $432,000 after buying an additional 47 shares during the last quarter. Trustmark National Bank Trust Department grew its position in Leggett & Platt, by 0.9% in the first quarter. Trustmark National Bank Trust Department now owns 6,360 shares of the company’s stock worth $320,000 after buying an additional 59 shares during the last quarter. Finally, Thrivent Financial For Lutherans grew its position in Leggett & Platt, by 1.8% in the second quarter. Thrivent Financial For Lutherans now owns 5,150 shares of the company’s stock worth $271,000 after buying an additional 90 shares during the last quarter. Institutional investors and hedge funds own 68.86% of the company’s stock.
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Shares of Leggett & Platt, Incorporated (LEG) traded down 0.21% during mid-day trading on Wednesday, reaching $48.46. 34,771 shares of the company’s stock traded hands. The company’s 50 day moving average is $46.24 and its 200-day moving average is $50.23. Leggett & Platt, Incorporated has a 52 week low of $43.17 and a 52 week high of $54.97. The firm has a market cap of $6.41 billion, a price-to-earnings ratio of 19.23 and a beta of 0.99.
Leggett & Platt, (NYSE:LEG) last released its quarterly earnings results on Thursday, July 27th. The company reported $0.64 earnings per share for the quarter, missing analysts’ consensus estimates of $0.65 by ($0.01). The firm had revenue of $989.30 million for the quarter, compared to analyst estimates of $1 billion. Leggett & Platt, had a return on equity of 31.02% and a net margin of 9.17%. The company’s revenue was up 3.2% compared to the same quarter last year. During the same period last year, the company earned $0.66 EPS. Equities analysts expect that Leggett & Platt, Incorporated will post $2.43 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 13th. Stockholders of record on Friday, September 15th will be issued a $0.36 dividend. The ex-dividend date of this dividend is Thursday, September 14th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 2.97%. Leggett & Platt,’s dividend payout ratio (DPR) is presently 57.14%.
In related news, insider Matthew C. Flanigan sold 19,589 shares of the stock in a transaction on Monday, July 31st. The shares were sold at an average price of $49.58, for a total transaction of $971,222.62. Following the completion of the transaction, the insider now owns 159,522 shares in the company, valued at $7,909,100.76. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.78% of the stock is owned by company insiders.
Several research analysts have issued reports on the company. Hilliard Lyons raised Leggett & Platt, from a “neutral” rating to a “long-term buy” rating and set a $66.00 price target on the stock in a report on Monday, July 24th. Piper Jaffray Companies set a $59.00 price objective on Leggett & Platt, and gave the stock a “buy” rating in a research note on Monday, August 14th. Zacks Investment Research upgraded Leggett & Platt, from a “sell” rating to a “hold” rating in a report on Tuesday, July 11th. Gabelli started coverage on Leggett & Platt, in a report on Wednesday, June 21st. They issued a “hold” rating and a $53.00 target price on the stock. Finally, BidaskClub lowered Leggett & Platt, from a “hold” rating to a “sell” rating in a research report on Sunday, August 6th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating, three have given a buy rating and two have issued a strong buy rating to the stock. Leggett & Platt, has a consensus rating of “Hold” and an average target price of $55.33.
Leggett & Platt, Company Profile
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.
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