United Capital Financial Advisers LLC trimmed its stake in shares of Leggett & Platt, Inc. (NYSE:LEG) by 95.0% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 10,565 shares of the company’s stock after selling 199,434 shares during the period. United Capital Financial Advisers LLC’s holdings in Leggett & Platt were worth $469,000 at the end of the most recent reporting period.
Other hedge funds also recently bought and sold shares of the company. Bedel Financial Consulting Inc. acquired a new stake in shares of Leggett & Platt during the 1st quarter valued at approximately $132,000. Federated Investors Inc. PA acquired a new stake in shares of Leggett & Platt during the 1st quarter valued at approximately $138,000. Tdam USA Inc. acquired a new stake in shares of Leggett & Platt during the 1st quarter valued at approximately $221,000. Ostrum Asset Management acquired a new stake in shares of Leggett & Platt during the 1st quarter valued at approximately $228,000. Finally, Zeke Capital Advisors LLC acquired a new stake in shares of Leggett & Platt during the 1st quarter valued at approximately $231,000. Institutional investors own 76.23% of the company’s stock.
Shares of Leggett & Platt stock opened at $44.36 on Friday. The company has a debt-to-equity ratio of 1.04, a current ratio of 1.85 and a quick ratio of 1.23. Leggett & Platt, Inc. has a 1 year low of $39.57 and a 1 year high of $53.96. The company has a market cap of $5.77 billion, a P/E ratio of 18.25, a P/E/G ratio of 1.51 and a beta of 0.90.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 13th. Investors of record on Friday, June 15th will be given a dividend of $0.38 per share. This is an increase from Leggett & Platt’s previous quarterly dividend of $0.36. This represents a $1.52 annualized dividend and a dividend yield of 3.43%. The ex-dividend date is Thursday, June 14th. Leggett & Platt’s payout ratio is currently 61.79%.
In related news, Director Robert Ted Enloe III sold 5,328 shares of Leggett & Platt stock in a transaction that occurred on Friday, June 1st. The stock was sold at an average price of $41.47, for a total transaction of $220,952.16. Following the completion of the transaction, the director now directly owns 38,376 shares in the company, valued at approximately $1,591,452.72. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 1.52% of the company’s stock.
A number of research firms have recently issued reports on LEG. Zacks Investment Research upgraded shares of Leggett & Platt from a “sell” rating to a “hold” rating in a research report on Thursday, June 21st. Stifel Nicolaus upgraded shares of Leggett & Platt from a “hold” rating to a “buy” rating and lifted their price target for the company from $48.00 to $50.00 in a research report on Thursday, May 31st. ValuEngine downgraded shares of Leggett & Platt from a “hold” rating to a “sell” rating in a research report on Wednesday, May 2nd. SunTrust Banks reduced their price target on shares of Leggett & Platt to $48.00 and set a “buy” rating for the company in a research report on Tuesday, May 1st. Finally, Credit Suisse Group reduced 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 report on Friday, April 27th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and four have given a buy rating to the company. Leggett & Platt has a consensus rating of “Hold” and a consensus price target of $51.17.
Leggett & Platt Company 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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