Albion Financial Group UT Boosts Holdings in Leggett & Platt, Incorporated (LEG)
Albion Financial Group UT raised its position in Leggett & Platt, Incorporated (NYSE:LEG) by 16.7% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 59,650 shares of the company’s stock after purchasing an additional 8,515 shares during the quarter. Albion Financial Group UT’s holdings in Leggett & Platt, were worth $2,847,000 as of its most recent SEC filing.
A number of other institutional investors have also recently bought and sold shares of the business. Yorktown Management & Research Co Inc bought a new position in Leggett & Platt, in the third quarter valued at about $2,387,000. Meiji Yasuda Asset Management Co Ltd. bought a new position in Leggett & Platt, in the third quarter valued at about $401,000. Pacer Advisors Inc. raised its position in Leggett & Platt, by 14.2% in the third quarter. Pacer Advisors Inc. now owns 23,089 shares of the company’s stock valued at $1,102,000 after purchasing an additional 2,866 shares during the last quarter. Stephens Inc. AR raised its position in Leggett & Platt, by 14.4% in the third quarter. Stephens Inc. AR now owns 22,489 shares of the company’s stock valued at $1,073,000 after purchasing an additional 2,830 shares during the last quarter. Finally, HAP Trading LLC bought a new position in Leggett & Platt, in the third quarter valued at about $638,000. Hedge funds and other institutional investors own 69.52% of the company’s stock.
Shares of Leggett & Platt, Incorporated (NYSE LEG) traded up $0.25 during mid-day trading on Thursday, hitting $46.65. The stock had a trading volume of 623,700 shares, compared to its average volume of 967,499. The firm has a market capitalization of $6,116.33, a PE ratio of 19.33, a price-to-earnings-growth ratio of 1.94 and a beta of 1.03. The company has a current ratio of 1.74, a quick ratio of 1.11 and a debt-to-equity ratio of 0.89. Leggett & Platt, Incorporated has a 12 month low of $43.17 and a 12 month high of $54.97.
Leggett & Platt, (NYSE:LEG) last issued its quarterly earnings results on Thursday, October 26th. The company reported $0.61 earnings per share for the quarter, beating the consensus estimate of $0.60 by $0.01. The company had revenue of $1.01 billion during the quarter, compared to analysts’ expectations of $1.01 billion. Leggett & Platt, had a return on equity of 29.60% and a net margin of 8.75%. The business’s quarterly revenue was up 6.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.67 earnings per share. equities analysts forecast that Leggett & Platt, Incorporated will post 2.48 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, January 12th. Stockholders of record on Friday, December 15th will be paid a $0.36 dividend. The ex-dividend date is Thursday, December 14th. This represents a $1.44 annualized dividend and a dividend yield of 3.09%. Leggett & Platt,’s payout ratio is 58.78%.
LEG has been the subject of several research reports. BidaskClub downgraded Leggett & Platt, from a “buy” rating to a “hold” rating in a research report on Monday, July 31st. Zacks Investment Research downgraded Leggett & Platt, from a “hold” rating to a “sell” rating in a research report on Tuesday, August 1st. Piper Jaffray Companies set a $59.00 target price on Leggett & Platt, and gave the company a “buy” rating in a research report on Monday, August 14th. Stifel Nicolaus reiterated a “hold” rating on shares of Leggett & Platt, in a research report on Thursday, September 7th. Finally, SunTrust Banks, Inc. upgraded Leggett & Platt, from a “hold” rating to a “buy” rating and increased their target price for the company from $50.00 to $53.00 in a research report on Friday, September 22nd. They noted that the move was a valuation call. One research analyst has rated the stock with a sell rating, five have given a hold rating, two have assigned 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 an average price target of $54.29.
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In other news, SVP Scott S. Douglas sold 3,000 shares of the stock in a transaction dated Monday, November 20th. The stock was sold at an average price of $46.45, for a total value of $139,350.00. Following the completion of the sale, the senior vice president now owns 35,289 shares of the company’s stock, valued at $1,639,174.05. The sale was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 1.78% of the company’s stock.
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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