BerganKDV Wealth Management LLC held its 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. The fund owned 12,871 shares of the company’s stock at the end of the first quarter. BerganKDV Wealth Management LLC’s holdings in Leggett & Platt were worth $629,000 at the end of the most recent quarter.
A number of other institutional investors have also recently modified their holdings of the company. Pegasus Partners Ltd. boosted its position in Leggett & Platt by 2.6% in the third quarter. Pegasus Partners Ltd. now owns 42,161 shares of the company’s stock worth $1,922,000 after buying an additional 1,086 shares during the period. Rand Wealth LLC boosted its position in Leggett & Platt by 4.0% in the third quarter. Rand Wealth LLC now owns 48,749 shares of the company’s stock worth $2,222,000 after buying an additional 1,891 shares during the period. Campbell & CO Investment Adviser LLC bought a new position in Leggett & Platt during the third quarter worth approximately $417,000. Albion Financial Group UT boosted its position in Leggett & Platt by 33.2% in the third quarter. Albion Financial Group UT now owns 46,966 shares of the company’s stock worth $2,141,000 after buying an additional 11,714 shares during the period. Finally, NewSquare Capital LLC boosted its position in Leggett & Platt by 5.2% in the third quarter. NewSquare Capital LLC now owns 9,855 shares of the company’s stock worth $449,000 after buying an additional 486 shares during the period. Institutional investors and hedge funds own 69.01% of the company’s stock.
Shares of Leggett & Platt, Inc. (NYSE:LEG) traded up 1.06% during midday trading on Friday, hitting $50.63. 910,049 shares of the stock were exchanged. The stock’s 50-day moving average price is $52.01 and its 200-day moving average price is $49.53. The firm has a market capitalization of $6.70 billion, a price-to-earnings ratio of 18.43 and a beta of 1.02. Leggett & Platt, Inc. has a 1-year low of $44.02 and a 1-year high of $54.97.
Leggett & Platt (NYSE:LEG) last announced its quarterly earnings data on Thursday, April 27th. The company reported $0.62 earnings per share for the quarter, topping the consensus estimate of $0.59 by $0.03. Leggett & Platt had a return on equity of 32.02% and a net margin of 10.29%. The company had revenue of $960.30 million during the quarter, compared to analyst estimates of $958.98 million. During the same quarter last year, the firm posted $0.63 EPS. The firm’s revenue for the quarter was up 2.3% on a year-over-year basis. On average, analysts forecast that Leggett & Platt, Inc. will post $2.63 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 14th. Investors of record on Thursday, June 15th will be issued a $0.36 dividend. The ex-dividend date of this dividend is Tuesday, June 13th. This represents a $1.44 annualized dividend and a yield of 2.87%. This is a positive change from Leggett & Platt’s previous quarterly dividend of $0.34. Leggett & Platt’s dividend payout ratio (DPR) is 49.28%.
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A number of equities analysts have commented on LEG shares. Zacks Investment Research cut shares of Leggett & Platt from a “buy” rating to a “hold” rating in a research report on Tuesday, April 11th. Stifel Nicolaus boosted their target price on shares of Leggett & Platt from $48.00 to $52.00 and gave the company a “hold” rating in a research report on Monday, April 3rd. Finally, Raymond James Financial, Inc. raised shares of Leggett & Platt from a “market perform” rating to a “strong-buy” rating and set a $54.00 target price for the company in a research report on Wednesday, February 1st. Five investment analysts have rated the stock with a hold rating and one has assigned a strong buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $55.25.
In related news, Director Joseph W. Mcclanathan sold 5,715 shares of Leggett & Platt stock in a transaction dated Monday, May 1st. The stock was sold at an average price of $52.91, for a total value of $302,380.65. Following the completion of the sale, the director now owns 32,314 shares of the company’s stock, valued at approximately $1,709,733.74. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, SVP Scott S. Douglas sold 5,000 shares of Leggett & Platt stock in a transaction dated Wednesday, May 3rd. The stock was sold at an average price of $53.26, for a total value of $266,300.00. Following the completion of the sale, the senior vice president now directly owns 36,133 shares of the company’s stock, valued at approximately $1,924,443.58. The disclosure for this sale can be found here. In the last three months, insiders sold 66,320 shares of company stock valued at $3,458,652. 3.92% of the stock is currently owned by insiders.
Leggett & Platt Company Profile
Leggett & Platt, Incorporated is a manufacturer that conceives, designs and produces a range of engineered components and products found in homes, offices and automobiles. The Company operates in four segments: Residential Furnishings, Commercial Products, Industrial Materials and Specialized Products.
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