Epoch Investment Partners Inc. Sells 513,560 Shares of Leggett & Platt, Incorporated (NYSE:LEG)

Epoch Investment Partners Inc. decreased its stake in shares of Leggett & Platt, Incorporated (NYSE:LEG) by 24.1% during the 2nd quarter, according to the company in its most recent filing with the SEC. The firm owned 1,620,322 shares of the company’s stock after selling 513,560 shares during the quarter. Epoch Investment Partners Inc.’s holdings in Leggett & Platt were worth $83,949,000 as of its most recent filing with the SEC.

Other large investors also recently bought and sold shares of the company. Healthcare of Ontario Pension Plan Trust Fund bought a new position in shares of Leggett & Platt during the 1st quarter worth about $26,000. Stonebridge Capital Advisors LLC bought a new position in shares of Leggett & Platt during the 1st quarter worth about $28,000. Alpha Paradigm Partners LLC bought a new position in shares of Leggett & Platt during the 2nd quarter worth about $30,000. AGF Investments LLC increased its holdings in shares of Leggett & Platt by 293.5% during the 1st quarter. AGF Investments LLC now owns 732 shares of the company’s stock worth $33,000 after purchasing an additional 546 shares during the period. Finally, San Francisco Sentry Investment Group CA increased its holdings in shares of Leggett & Platt by 950.0% during the 2nd quarter. San Francisco Sentry Investment Group CA now owns 630 shares of the company’s stock worth $33,000 after purchasing an additional 570 shares during the period. Institutional investors own 72.89% of the company’s stock.

NYSE LEG traded up $0.87 on Thursday, reaching $45.35. The company’s stock had a trading volume of 4,141 shares, compared to its average volume of 823,816. The firm has a market cap of $6.05 billion, a PE ratio of 15.01 and a beta of 1.48. The business has a 50-day moving average price of $47.19 and a 200 day moving average price of $49.69. Leggett & Platt, Incorporated has a 52 week low of $39.25 and a 52 week high of $59.16. The company has a current ratio of 1.71, a quick ratio of 0.90 and a debt-to-equity ratio of 1.29.

Leggett & Platt (NYSE:LEG) last posted its earnings results on Sunday, August 1st. The company reported $0.66 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.54 by $0.12. The business had revenue of $1.27 billion for the quarter, compared to analysts’ expectations of $1.23 billion. Leggett & Platt had a net margin of 8.48% and a return on equity of 27.49%. The firm’s revenue for the quarter was up 50.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.16 earnings per share. Analysts anticipate that Leggett & Platt, Incorporated will post 2.85 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 15th. Investors of record on Wednesday, September 15th will be paid a $0.42 dividend. The ex-dividend date of this dividend is Tuesday, September 14th. This represents a $1.68 dividend on an annualized basis and a yield of 3.70%. Leggett & Platt’s payout ratio is currently 78.87%.

Separately, Zacks Investment Research upgraded shares of Leggett & Platt from a “hold” rating to a “buy” rating and set a $50.00 price objective on the stock in a report on Thursday, August 5th. One analyst has rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Buy” and a consensus price target of $51.00.

Leggett & Platt Company Profile

Leggett & Platt, Inc engages in the manufacture and distribution of furniture and engineered components; and products among homes, offices, automobiles, and commercial aircraft. It operates through the following segments: Bedding, Flooring, Furniture & Textile, and Specialized Products. The Bedding Products segment supplies of products and components for the home, including mattress springs and specialty foam, as well as adjustable beds, bedding machinery, steel rod, and drawn wire.

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

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