JPMorgan Chase & Co. Increases Stock Position in Leggett & Platt, Incorporated (NYSE:LEG)


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JPMorgan Chase & Co. lifted its holdings in shares of Leggett & Platt, Incorporated (NYSE:LEG) by 74.5% during the fourth quarter, HoldingsChannel.com reports. The fund owned 333,961 shares of the company’s stock after purchasing an additional 142,534 shares during the quarter. JPMorgan Chase & Co.’s holdings in Leggett & Platt were worth $14,795,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Public Sector Pension Investment Board grew its position in shares of Leggett & Platt by 1.7% during the third quarter. Public Sector Pension Investment Board now owns 16,076 shares of the company’s stock worth $662,000 after acquiring an additional 261 shares during the last quarter. Oppenheimer & Co. Inc. grew its position in shares of Leggett & Platt by 0.8% during the fourth quarter. Oppenheimer & Co. Inc. now owns 40,035 shares of the company’s stock worth $1,773,000 after acquiring an additional 317 shares during the last quarter. Woodstock Corp grew its position in shares of Leggett & Platt by 2.5% during the fourth quarter. Woodstock Corp now owns 18,319 shares of the company’s stock worth $812,000 after acquiring an additional 450 shares during the last quarter. State of Alaska Department of Revenue grew its position in shares of Leggett & Platt by 2.2% during the fourth quarter. State of Alaska Department of Revenue now owns 23,092 shares of the company’s stock worth $1,022,000 after acquiring an additional 493 shares during the last quarter. Finally, Sowell Financial Services LLC grew its position in shares of Leggett & Platt by 61.3% during the fourth quarter. Sowell Financial Services LLC now owns 1,316 shares of the company’s stock worth $58,000 after acquiring an additional 500 shares during the last quarter. Institutional investors and hedge funds own 71.88% of the company’s stock.

In other Leggett & Platt news, Director Phoebe A. Wood sold 10,346 shares of the firm’s stock in a transaction on Thursday, February 18th. The stock was sold at an average price of $41.42, for a total value of $428,531.32. Following the completion of the sale, the director now owns 48,257 shares of the company’s stock, valued at $1,998,804.94. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 1.53% of the stock is currently owned by company insiders.

Shares of NYSE LEG opened at $47.55 on Tuesday. The company has a debt-to-equity ratio of 1.47, a current ratio of 1.60 and a quick ratio of 0.98. The stock has a fifty day moving average price of $46.32 and a 200 day moving average price of $43.80. Leggett & Platt, Incorporated has a 1-year low of $24.01 and a 1-year high of $50.00. The company has a market cap of $6.32 billion, a PE ratio of 27.97, a P/E/G ratio of 1.71 and a beta of 1.42.

Leggett & Platt (NYSE:LEG) last issued its quarterly earnings results on Sunday, February 7th. The company reported $0.76 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.70 by $0.06. Leggett & Platt had a return on equity of 21.93% and a net margin of 5.45%. The firm had revenue of $1.18 billion during the quarter, compared to the consensus estimate of $1.15 billion. During the same period last year, the company earned $0.27 earnings per share. The company’s revenue for the quarter was up 3.2% on a year-over-year basis. Analysts anticipate that Leggett & Platt, Incorporated will post 2.07 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, April 15th. Shareholders of record on Monday, March 15th will be issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 3.36%. The ex-dividend date is Friday, March 12th. Leggett & Platt’s dividend payout ratio (DPR) is currently 62.26%.

LEG has been the topic of a number of research reports. Raymond James lowered shares of Leggett & Platt from a “strong-buy” rating to an “outperform” rating and set a $48.00 target price on the stock. in a research report on Wednesday, February 10th. Zacks Investment Research downgraded Leggett & Platt from a “hold” rating to a “sell” rating and set a $45.00 price target for the company. in a report on Monday, February 8th. One analyst has rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $44.40.

Leggett & Platt Company Profile

Leggett & Platt, Incorporated designs, manufactures, and markets engineered components and products worldwide. It operates through three segments: Bedding Products; Specialized Products; and Furniture, Flooring & Textile Products. The company offers steel rods, drawn wires, foam chemicals and additives, innersprings, specialty foams, private label finished mattresses, mattress foundations, wire forms for adjustable beds, industrial sewing and quilting machines, and mattress packaging and glue drying equipment, as well as machines to shape wires into innersprings for industrial users of steel rods and wires, manufacturers of finished bedding, big box and e-commerce retailers, bedding brands and mattress retailers, department stores, and home improvement centers.

See Also: Environmental, Social, and Governance (ESG) Investing

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

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