Monroe Bank & Trust MI Acquires 1,281 Shares of Leggett & Platt, Inc. (LEG)

Monroe Bank & Trust MI grew its holdings in Leggett & Platt, Inc. (NYSE:LEG) by 3.6% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 36,422 shares of the company’s stock after purchasing an additional 1,281 shares during the quarter. Monroe Bank & Trust MI’s holdings in Leggett & Platt were worth $1,626,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Two Sigma Advisers LP purchased a new position in Leggett & Platt in the fourth quarter worth approximately $267,000. FDx Advisors Inc. lifted its stake in Leggett & Platt by 10.6% in the first quarter. FDx Advisors Inc. now owns 29,814 shares of the company’s stock worth $1,323,000 after acquiring an additional 2,849 shares during the last quarter. Thomaspartners Inc. lifted its stake in Leggett & Platt by 6.4% in the first quarter. Thomaspartners Inc. now owns 2,557,065 shares of the company’s stock worth $113,431,000 after acquiring an additional 153,367 shares during the last quarter. Commerzbank Aktiengesellschaft FI purchased a new position in Leggett & Platt in the first quarter worth approximately $408,000. Finally, Berkshire Asset Management LLC PA lifted its stake in Leggett & Platt by 1.9% in the first quarter. Berkshire Asset Management LLC PA now owns 495,189 shares of the company’s stock worth $21,967,000 after acquiring an additional 9,254 shares during the last quarter. 77.17% of the stock is owned by institutional investors and hedge funds.

LEG has been the subject of a number of recent research reports. Zacks Investment Research downgraded shares of Leggett & Platt from a “hold” rating to a “sell” rating in a research note on Friday, April 20th. SunTrust Banks decreased their price target on shares of Leggett & Platt to $48.00 and set a “buy” rating for the company in a research note on Tuesday, May 1st. Stifel Nicolaus upgraded shares of Leggett & Platt from a “hold” rating to a “buy” rating and lifted their price target for the stock from $48.00 to $50.00 in a research note on Thursday, May 31st. Credit Suisse Group decreased their price target on shares of Leggett & Platt from $51.00 to $46.00 and set a “neutral” rating for the company in a research note on Friday, April 27th. Finally, ValuEngine downgraded shares of Leggett & Platt from a “hold” rating to a “sell” rating in a research note on Wednesday, May 2nd. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the company’s stock. Leggett & Platt presently has a consensus rating of “Hold” and an average target price of $48.20.

In other news, Director Robert Ted Enloe III sold 5,328 shares of Leggett & Platt stock in a transaction on Friday, June 1st. The shares were sold at an average price of $41.47, for a total value of $220,952.16. Following the transaction, the director now directly owns 38,376 shares of the company’s stock, valued at approximately $1,591,452.72. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Matthew C. Flanigan sold 29,248 shares of Leggett & Platt stock in a transaction on Monday, July 30th. The shares were sold at an average price of $44.09, for a total transaction of $1,289,544.32. Following the completion of the transaction, the insider now directly owns 115,039 shares in the company, valued at $5,072,069.51. The disclosure for this sale can be found here. Insiders own 1.52% of the company’s stock.

LEG stock opened at $44.18 on Friday. The company has a debt-to-equity ratio of 1.15, a quick ratio of 1.23 and a current ratio of 1.90. Leggett & Platt, Inc. has a twelve month low of $39.57 and a twelve month high of $51.99. The company has a market cap of $5.64 billion, a price-to-earnings ratio of 17.94, a P/E/G ratio of 1.55 and a beta of 0.88.

Leggett & Platt (NYSE:LEG) last released its quarterly earnings data on Thursday, July 26th. The company reported $0.63 earnings per share for the quarter, topping analysts’ consensus estimates of $0.61 by $0.02. Leggett & Platt had a net margin of 6.83% and a return on equity of 27.73%. The company had revenue of $1.10 billion for the quarter, compared to analysts’ expectations of $1.09 billion. During the same quarter last year, the company earned $0.64 earnings per share. The firm’s revenue for the quarter was up 11.4% on a year-over-year basis. analysts predict that Leggett & Platt, Inc. will post 2.62 earnings per share for the current year.

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

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