Leggett & Platt, Inc. (LEG) Shares Bought by Ronna Sue Cohen
Ronna Sue Cohen lifted its position in Leggett & Platt, Inc. (NYSE:LEG) by 4,158.9% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 395,565 shares of the company’s stock after purchasing an additional 386,277 shares during the quarter. Ronna Sue Cohen owned about 0.30% of Leggett & Platt worth $396,000 as of its most recent SEC filing.
Several other large investors have also recently made changes to their positions in LEG. Bank of New York Mellon Corp raised its stake in shares of Leggett & Platt by 4.9% in the third quarter. Bank of New York Mellon Corp now owns 4,547,497 shares of the company’s stock worth $199,134,000 after purchasing an additional 213,589 shares during the last quarter. FMR LLC raised its stake in shares of Leggett & Platt by 6.7% in the third quarter. FMR LLC now owns 57,137 shares of the company’s stock worth $2,502,000 after purchasing an additional 3,574 shares during the last quarter. Panagora Asset Management Inc. raised its stake in shares of Leggett & Platt by 11.0% in the third quarter. Panagora Asset Management Inc. now owns 18,349 shares of the company’s stock worth $804,000 after purchasing an additional 1,824 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Leggett & Platt by 1.3% in the third quarter. Dimensional Fund Advisors LP now owns 1,163,137 shares of the company’s stock worth $50,933,000 after purchasing an additional 14,448 shares during the last quarter. Finally, Franklin Resources Inc. raised its stake in shares of Leggett & Platt by 57.8% in the third quarter. Franklin Resources Inc. now owns 19,135 shares of the company’s stock worth $838,000 after purchasing an additional 7,007 shares during the last quarter. Hedge funds and other institutional investors own 79.84% of the company’s stock.
Leggett & Platt stock traded down $0.26 during midday trading on Wednesday, hitting $43.48. 12,666 shares of the company were exchanged, compared to its average volume of 941,421. The firm has a market cap of $5.74 billion, a price-to-earnings ratio of 17.51, a price-to-earnings-growth ratio of 1.88 and a beta of 1.09. Leggett & Platt, Inc. has a fifty-two week low of $33.48 and a fifty-two week high of $46.71. The company has a quick ratio of 1.09, a current ratio of 1.87 and a debt-to-equity ratio of 1.01.
The business also recently announced a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Friday, March 15th were issued a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a yield of 3.50%. The ex-dividend date was Thursday, March 14th. Leggett & Platt’s dividend payout ratio (DPR) is 61.29%.
In other Leggett & Platt news, SVP Russell J. Iorio sold 16,042 shares of the firm’s stock in a transaction that occurred on Wednesday, February 27th. The stock was sold at an average price of $45.73, for a total value of $733,600.66. Following the sale, the senior vice president now directly owns 71,149 shares of the company’s stock, valued at $3,253,643.77. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Joseph W. Mcclanathan sold 10,143 shares of the firm’s stock in a transaction that occurred on Thursday, February 14th. The shares were sold at an average price of $43.83, for a total value of $444,567.69. Following the completion of the sale, the director now directly owns 26,034 shares in the company, valued at $1,141,070.22. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 44,635 shares of company stock worth $2,012,477. 1.45% of the stock is owned by corporate insiders.
Several research analysts have recently issued reports on LEG shares. Gabelli cut Leggett & Platt from a “buy” rating to a “hold” rating in a research note on Wednesday, February 6th. Zacks Investment Research cut Leggett & Platt from a “hold” rating to a “sell” rating in a research note on Thursday, February 7th. Finally, TheStreet raised Leggett & Platt from a “c+” rating to a “b-” rating in a report on Friday, March 1st. One analyst has rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $45.00.
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Leggett & Platt Company Profile
Leggett & Platt, Incorporated designs and produces various engineered components and products worldwide. It operates through four segments: Residential Products, Furniture Products, Industrial Products, and Specialized Products. The Residential Products segment offers innersprings, wire forms, and machines to shape wire into various types of springs; industrial sewing/finishing machines, conveyor lines, mattress packaging, and glue-drying equipment, as well as quilting machines; and structural fabrics, carpet cushions, and geo components.
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