GW&K Investment Management LLC raised its position in Leggett & Platt Inc. (NYSE:LEG) by 6.6% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 524,855 shares of the company’s stock after buying an additional 32,346 shares during the period. GW&K Investment Management LLC’s holdings in Leggett & Platt were worth $26,825,000 at the end of the most recent quarter.
Other institutional investors have also modified their holdings of the company. TNB Financial acquired a new position in shares of Leggett & Platt during the second quarter worth approximately $204,000. Bayesian Capital Management LP acquired a new position in shares of Leggett & Platt during the first quarter worth approximately $305,000. HL Financial Services LLC boosted its position in shares of Leggett & Platt by 3.5% in the second quarter. HL Financial Services LLC now owns 6,143 shares of the company’s stock worth $314,000 after buying an additional 210 shares during the last quarter. OMERS ADMINISTRATION Corp acquired a new position in shares of Leggett & Platt during the first quarter worth approximately $315,000. Finally, Schonfeld Strategic Advisors LLC acquired a new position in shares of Leggett & Platt during the first quarter worth approximately $327,000. 66.43% of the stock is owned by institutional investors and hedge funds.
Leggett & Platt Inc. (NYSE:LEG) traded up 0.46% during trading on Tuesday, hitting $48.32. 700,757 shares of the company were exchanged. The stock’s 50-day moving average is $51.06 and its 200-day moving average is $50.15. The company has a market capitalization of $6.46 billion, a price-to-earnings ratio of 17.67 and a beta of 0.97. Leggett & Platt Inc. has a 12 month low of $36.64 and a 12 month high of $54.63.
Leggett & Platt (NYSE:LEG) last released its quarterly earnings data on Thursday, July 28th. The company reported $0.66 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.62 by $0.04. Leggett & Platt had a net margin of 10.03% and a return on equity of 33.71%. The firm earned $958.90 million during the quarter, compared to analysts’ expectations of $1,000 million. During the same period last year, the business earned $0.53 earnings per share. Leggett & Platt’s revenue was down 3.9% compared to the same quarter last year. Equities research analysts anticipate that Leggett & Platt Inc. will post $2.52 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 14th. Investors of record on Thursday, September 15th will be given a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a yield of 2.81%. The ex-dividend date of this dividend is Tuesday, September 13th. Leggett & Platt’s payout ratio is currently 49.64%.
A number of brokerages have commented on LEG. Hilliard Lyons cut shares of Leggett & Platt from a “neutral” rating to an “underperform” rating in a research note on Friday, July 29th. Raymond James Financial Inc. reaffirmed a “market perform” rating on shares of Leggett & Platt in a research note on Monday, August 1st. Zacks Investment Research cut shares of Leggett & Platt from a “buy” rating to a “hold” rating in a research note on Tuesday, July 12th. Finally, Citigroup Inc. cut shares of Leggett & Platt to a “market perform” rating in a research note on Monday, August 1st.
In other Leggett & Platt news, Director Judy C. Odom sold 5,000 shares of the stock in a transaction dated Tuesday, August 23rd. The shares were sold at an average price of $52.51, for a total transaction of $262,550.00. Following the completion of the transaction, the director now owns 58,557 shares of the company’s stock, valued at $3,074,828.07. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Karl G. Glassman sold 20,000 shares of the stock in a transaction dated Friday, August 26th. The stock was sold at an average price of $52.49, for a total transaction of $1,049,800.00. Following the transaction, the insider now directly owns 459,850 shares of the company’s stock, valued at approximately $24,137,526.50. The disclosure for this sale can be found here. Corporate insiders own 3.92% of the company’s stock.
Leggett & Platt Company Profile
Leggett & Platt, Incorporated is a manufacturer of engineered components and products found in homes, offices, automobiles and commercial aircraft. The Company operates in four segments: Residential Furnishings, Commercial Products, Industrial Materials and Specialized Products. The Residential Furnishings segment manufactures steel coiled bedsprings.
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