Livingston Group Asset Management CO operating as Southport Capital Management trimmed its stake in Leggett & Platt, Inc. (NYSE:LEG) by 2.9% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 13,500 shares of the company’s stock after selling 400 shares during the quarter. Livingston Group Asset Management CO operating as Southport Capital Management’s holdings in Leggett & Platt were worth $570,000 at the end of the most recent quarter.
Other institutional investors also recently added to or reduced their stakes in the company. Intercontinental Wealth Advisors LLC bought a new position in shares of Leggett & Platt during the fourth quarter valued at $30,000. Legacy Advisors LLC purchased a new stake in Leggett & Platt during the first quarter valued at $51,000. CSat Investment Advisory L.P. increased its position in Leggett & Platt by 90.4% during the fourth quarter. CSat Investment Advisory L.P. now owns 1,455 shares of the company’s stock valued at $52,000 after acquiring an additional 691 shares during the last quarter. Pinnacle Bank purchased a new stake in Leggett & Platt during the fourth quarter valued at $82,000. Finally, Federated Investors Inc. PA purchased a new stake in Leggett & Platt during the third quarter valued at $113,000. 79.84% of the stock is currently owned by institutional investors and hedge funds.
A number of research firms recently commented on LEG. TheStreet upgraded Leggett & Platt from a “c+” rating to a “b-” rating in a research report on Friday, March 1st. Zacks Investment Research cut Leggett & Platt from a “hold” rating to a “sell” rating in a research report on Thursday, February 7th. Finally, Gabelli cut Leggett & Platt from a “buy” rating to a “hold” rating in a research report on Wednesday, February 6th. One analyst has rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating to the company. Leggett & Platt currently has a consensus rating of “Hold” and a consensus price target of $45.00.
LEG traded down $0.10 during midday trading on Wednesday, reaching $43.64. The company had a trading volume of 4,589 shares, compared to its average volume of 941,421. 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 stock has a market cap of $5.74 billion, a price-to-earnings ratio of 17.67, a PEG ratio of 1.88 and a beta of 1.09. Leggett & Platt, Inc. has a 1 year low of $33.48 and a 1 year high of $46.71.
Leggett & Platt (NYSE:LEG) last issued its quarterly earnings results on Monday, February 4th. The company reported $0.62 EPS for the quarter, topping analysts’ consensus estimates of $0.57 by $0.05. The business had revenue of $1.05 billion during the quarter, compared to analysts’ expectations of $1.02 billion. Leggett & Platt had a return on equity of 28.99% and a net margin of 7.16%. The business’s quarterly revenue was up 6.7% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.59 earnings per share. On average, equities analysts anticipate that Leggett & Platt, Inc. will post 2.52 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Friday, March 15th were paid a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a dividend yield of 3.48%. The ex-dividend date was Thursday, March 14th. Leggett & Platt’s dividend payout ratio (DPR) is 61.29%.
In other news, SVP Scott S. Douglas sold 18,450 shares of the company’s stock in a transaction dated Wednesday, February 20th. The stock was sold at an average price of $45.22, for a total value of $834,309.00. Following the completion of the transaction, the senior vice president now owns 51,187 shares of the company’s stock, valued at $2,314,676.14. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, SVP Russell J. Iorio sold 16,042 shares of the company’s stock in a transaction dated Wednesday, February 27th. The stock was sold at an average price of $45.73, for a total value of $733,600.66. Following the completion of the transaction, the senior vice president now directly owns 71,149 shares of the company’s stock, valued at approximately $3,253,643.77. The disclosure for this sale can be found here. In the last ninety days, insiders sold 44,635 shares of company stock valued at $2,012,477. Corporate insiders own 1.45% of the company’s stock.
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About Leggett & Platt
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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