Bridges Investment Management Inc. decreased its holdings in shares of Leggett & Platt, Inc. (NYSE:LEG) by 7.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 47,904 shares of the company’s stock after selling 3,775 shares during the quarter. Bridges Investment Management Inc.’s holdings in Leggett & Platt were worth $2,435,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds have also modified their holdings of the company. Pacitti Group Inc. bought a new stake in Leggett & Platt during the 4th quarter valued at $30,000. Americana Partners LLC bought a new position in shares of Leggett & Platt in the fourth quarter worth $32,000. Rockefeller Capital Management L.P. increased its holdings in shares of Leggett & Platt by 67.8% in the fourth quarter. Rockefeller Capital Management L.P. now owns 671 shares of the company’s stock worth $34,000 after purchasing an additional 271 shares during the period. Liberty Wealth Management LLC increased its holdings in shares of Leggett & Platt by 634.7% in the fourth quarter. Liberty Wealth Management LLC now owns 698 shares of the company’s stock worth $35,000 after purchasing an additional 603 shares during the period. Finally, Penserra Capital Management LLC increased its holdings in shares of Leggett & Platt by 25.0% in the third quarter. Penserra Capital Management LLC now owns 1,280 shares of the company’s stock worth $52,000 after purchasing an additional 256 shares during the period. 73.15% of the stock is currently owned by institutional investors and hedge funds.
Leggett & Platt stock opened at $27.62 on Thursday. The stock has a market cap of $3.50 billion, a P/E ratio of 11.18, a PEG ratio of 0.82 and a beta of 1.21. Leggett & Platt, Inc. has a fifty-two week low of $22.03 and a fifty-two week high of $55.42. The firm’s fifty day moving average price is $38.09 and its 200-day moving average price is $45.51. The company has a debt-to-equity ratio of 1.67, a quick ratio of 0.97 and a current ratio of 1.66.
Leggett & Platt (NYSE:LEG) last released its quarterly earnings results on Monday, February 3rd. The company reported $0.68 earnings per share for the quarter, topping the consensus estimate of $0.66 by $0.02. The firm had revenue of $1.15 billion for the quarter, compared to analysts’ expectations of $1.16 billion. Leggett & Platt had a net margin of 7.02% and a return on equity of 27.79%. The business’s quarterly revenue was up 9.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.62 earnings per share. Sell-side analysts predict that Leggett & Platt, Inc. will post 2.5 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 15th. Investors of record on Friday, March 13th will be given a $0.40 dividend. The ex-dividend date of this dividend is Thursday, March 12th. This represents a $1.60 annualized dividend and a yield of 5.79%. Leggett & Platt’s dividend payout ratio (DPR) is presently 62.26%.
LEG has been the topic of several research analyst reports. CJS Securities cut shares of Leggett & Platt from an “outperform” rating to a “market perform” rating and set a $54.00 price target on the stock. in a report on Tuesday, December 10th. Goldman Sachs Group initiated coverage on shares of Leggett & Platt in a report on Friday, December 6th. They issued a “neutral” rating on the stock. Finally, TheStreet cut shares of Leggett & Platt from a “b” rating to a “c+” rating in a report on Friday, March 6th. One research analyst has rated the stock with a sell rating and six have given a hold rating to the stock. Leggett & Platt presently has an average rating of “Hold” and an average price target of $54.50.
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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