Mitsubishi UFJ Trust & Banking Corp Has $12.93 Million Stake in Leggett & Platt, Inc. (LEG)
Mitsubishi UFJ Trust & Banking Corp lessened its stake in shares of Leggett & Platt, Inc. (NYSE:LEG) by 0.6% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 270,837 shares of the company’s stock after selling 1,675 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp owned approximately 0.21% of Leggett & Platt worth $12,927,000 at the end of the most recent quarter.
A number of other hedge funds have also made changes to their positions in the stock. Northwestern Mutual Wealth Management Co. increased its holdings in Leggett & Platt by 6.8% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 2,407 shares of the company’s stock worth $127,000 after buying an additional 153 shares in the last quarter. Oppenheimer Asset Management Inc. boosted its holdings in Leggett & Platt by 25.3% during the 2nd quarter. Oppenheimer Asset Management Inc. now owns 3,137 shares of the company’s stock valued at $165,000 after acquiring an additional 634 shares during the period. Investment Management of Virginia LLC purchased a new position in Leggett & Platt during the 2nd quarter valued at $206,000. Profund Advisors LLC purchased a new position in Leggett & Platt during the 2nd quarter valued at $217,000. Finally, Sigma Planning Corp boosted its holdings in Leggett & Platt by 4.2% during the 2nd quarter. Sigma Planning Corp now owns 4,277 shares of the company’s stock valued at $225,000 after acquiring an additional 172 shares during the period. 68.67% of the stock is owned by institutional investors.
Shares of Leggett & Platt, Inc. (NYSE:LEG) traded up $0.13 during midday trading on Monday, hitting $46.30. The company had a trading volume of 778,400 shares, compared to its average volume of 963,586. The company has a quick ratio of 1.11, a current ratio of 1.74 and a debt-to-equity ratio of 0.89. The stock has a market cap of $6,103.15, a PE ratio of 19.29, a P/E/G ratio of 1.93 and a beta of 1.03. Leggett & Platt, Inc. has a 1 year low of $43.17 and a 1 year high of $54.97.
Leggett & Platt (NYSE:LEG) last announced its earnings results on Thursday, October 26th. The company reported $0.61 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.60 by $0.01. Leggett & Platt had a return on equity of 29.60% and a net margin of 8.75%. The company had revenue of $1.01 billion for the quarter, compared to analyst estimates of $1.01 billion. During the same period in the prior year, the company posted $0.67 EPS. The firm’s quarterly revenue was up 6.4% compared to the same quarter last year. analysts predict that Leggett & Platt, Inc. will post 2.48 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, January 12th. Investors of record on Friday, December 15th will be given a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a yield of 3.11%. The ex-dividend date is Thursday, December 14th. Leggett & Platt’s dividend payout ratio is currently 58.78%.
Several brokerages have weighed in on LEG. Zacks Investment Research upgraded Leggett & Platt from a “sell” rating to a “hold” rating in a report on Tuesday, November 7th. Piper Jaffray Companies cut Leggett & Platt from an “overweight” rating to a “neutral” rating and set a $46.00 target price for the company. in a report on Monday, October 30th. SunTrust Banks reiterated a “buy” rating and issued a $53.00 target price on shares of Leggett & Platt in a report on Friday, October 27th. Stifel Nicolaus reiterated a “hold” rating on shares of Leggett & Platt in a report on Thursday, September 7th. Finally, BidaskClub cut Leggett & Platt from a “sell” rating to a “strong sell” rating in a research note on Friday, August 25th. One equities 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 given a strong buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $54.29.
In related news, SVP Scott S. Douglas sold 3,000 shares of the company’s stock in a transaction dated Monday, November 20th. The stock was sold at an average price of $46.45, for a total transaction of $139,350.00. Following the transaction, the senior vice president now directly owns 35,289 shares of the company’s stock, valued at approximately $1,639,174.05. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 1.78% of the company’s stock.
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Leggett & Platt 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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