NumerixS Investment Technologies Inc bought a new position in shares of Leggett & Platt, Inc. (NYSE:LEG) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 7,442 shares of the company’s stock, valued at approximately $314,000.
Other institutional investors have also recently made changes to their positions in the company. Swiss National Bank boosted its position in shares of Leggett & Platt by 3.8% during the first quarter. Swiss National Bank now owns 434,936 shares of the company’s stock worth $18,363,000 after buying an additional 15,900 shares during the period. Norinchukin Bank The raised its stake in Leggett & Platt by 4.2% during the 1st quarter. Norinchukin Bank The now owns 24,876 shares of the company’s stock valued at $1,050,000 after purchasing an additional 995 shares during the period. Northwestern Mutual Investment Management Company LLC raised its stake in Leggett & Platt by 1.4% during the 1st quarter. Northwestern Mutual Investment Management Company LLC now owns 19,918 shares of the company’s stock valued at $841,000 after purchasing an additional 273 shares during the period. Envestnet Asset Management Inc. raised its stake in Leggett & Platt by 4.4% during the 1st quarter. Envestnet Asset Management Inc. now owns 156,559 shares of the company’s stock valued at $6,610,000 after purchasing an additional 6,551 shares during the period. Finally, Twin Tree Management LP acquired a new stake in Leggett & Platt during the 1st quarter valued at $443,000. 76.36% of the stock is owned by hedge funds and other institutional investors.
LEG has been the topic of several recent analyst reports. TheStreet downgraded shares of Leggett & Platt from a “b-” rating to a “c+” rating in a research note on Friday, May 31st. Zacks Investment Research raised shares of Leggett & Platt from a “sell” rating to a “hold” rating in a research note on Tuesday, April 9th. Two analysts have rated the stock with a sell rating, one has assigned a hold rating and two have given a buy rating to the stock. Leggett & Platt currently has a consensus rating of “Hold” and a consensus target price of $42.00.
Leggett & Platt (NYSE:LEG) last released its earnings results on Monday, April 29th. The company reported $0.49 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.52 by ($0.03). Leggett & Platt had a net margin of 6.58% and a return on equity of 28.02%. The company had revenue of $1.16 billion during the quarter, compared to the consensus estimate of $1.18 billion. During the same quarter in the previous year, the business posted $0.57 EPS. The firm’s quarterly revenue was up 12.3% on a year-over-year basis. Sell-side analysts predict that Leggett & Platt, Inc. will post 2.46 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Friday, June 14th will be issued a dividend of $0.40 per share. This is a positive change from Leggett & Platt’s previous quarterly dividend of $0.38. The ex-dividend date is Thursday, June 13th. This represents a $1.60 annualized dividend and a dividend yield of 4.13%. Leggett & Platt’s dividend payout ratio (DPR) is presently 64.52%.
Leggett & Platt 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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