Crawford Investment Counsel Inc. Has $1.40 Million Position in Leggett & Platt, Incorporated (LEG)
Crawford Investment Counsel Inc. reduced its stake in shares of Leggett & Platt, Incorporated (NYSE:LEG) by 86.4% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 26,730 shares of the company’s stock after selling 169,095 shares during the period. Crawford Investment Counsel Inc.’s holdings in Leggett & Platt, were worth $1,404,000 as of its most recent filing with the SEC.
A number of other large investors have also recently bought and sold shares of LEG. Van ECK Associates Corp raised its stake in Leggett & Platt, by 7.4% in the first quarter. Van ECK Associates Corp now owns 2,122 shares of the company’s stock valued at $107,000 after buying an additional 147 shares during the period. TrimTabs Asset Management LLC raised its stake in Leggett & Platt, by 89.0% in the first quarter. TrimTabs Asset Management LLC now owns 2,328 shares of the company’s stock valued at $117,000 after buying an additional 1,096 shares during the period. Oppenheimer Asset Management Inc. purchased a new stake in Leggett & Platt, during the first quarter valued at approximately $126,000. Exane Derivatives raised its stake in Leggett & Platt, by 132,500.0% in the second quarter. Exane Derivatives now owns 2,652 shares of the company’s stock valued at $139,000 after buying an additional 2,650 shares during the period. Finally, OLD Mutual Customised Solutions Proprietary Ltd. raised its stake in Leggett & Platt, by 123.8% in the first quarter. OLD Mutual Customised Solutions Proprietary Ltd. now owns 2,686 shares of the company’s stock valued at $135,000 after buying an additional 1,486 shares during the period. Hedge funds and other institutional investors own 69.01% of the company’s stock.
Leggett & Platt, Incorporated (NYSE:LEG) opened at 45.97 on Friday. The company has a market capitalization of $6.08 billion, a P/E ratio of 18.24 and a beta of 0.98. Leggett & Platt, Incorporated has a 52-week low of $44.02 and a 52-week high of $54.97. The stock’s 50 day moving average is $48.72 and its 200-day moving average is $50.65.
Leggett & Platt, (NYSE:LEG) last released its quarterly earnings data on Thursday, July 27th. The company reported $0.64 earnings per share for the quarter, missing the consensus estimate of $0.65 by $0.01. Leggett & Platt, had a net margin of 9.17% and a return on equity of 31.02%. The company had revenue of $989.30 million for the quarter, compared to analysts’ expectations of $1 billion. During the same period in the previous year, the firm earned $0.66 earnings per share. The firm’s revenue for the quarter was up 3.2% on a year-over-year basis. Analysts predict that Leggett & Platt, Incorporated will post $2.60 EPS for the current fiscal year.
The business 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 dividend of $0.36 per share. The ex-dividend date is Thursday, September 14th. This represents a $1.44 annualized dividend and a dividend yield of 3.13%. Leggett & Platt,’s payout ratio is 57.14%.
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Several research firms have commented on LEG. BidaskClub lowered shares of Leggett & Platt, from a “hold” rating to a “sell” rating in a research note on Sunday, August 6th. Piper Jaffray Companies set a $59.00 price objective on shares of Leggett & Platt, and gave the company a “buy” rating in a research note on Monday, August 14th. Zacks Investment Research lowered shares of Leggett & Platt, from a “hold” rating to a “sell” rating in a research note on Tuesday, August 1st. Gabelli started coverage on shares of Leggett & Platt, in a research note on Wednesday, June 21st. They issued a “hold” rating and a $53.00 price objective for the company. Finally, Credit Suisse Group started coverage on shares of Leggett & Platt, in a research report on Thursday, June 22nd. They set a “neutral” rating and a $56.00 target price for the company. Two research analysts have rated the stock with a sell rating, four have given a hold rating, two have given a buy rating and two have given a strong buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $56.88.
In other news, insider Matthew C. Flanigan sold 19,589 shares of the business’s stock in a transaction that occurred 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 directly owns 159,522 shares of the company’s stock, valued at $7,909,100.76. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.78% of the stock is owned by insiders.
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.
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