Nisa Investment Advisors LLC increased its position in Leggett & Platt, Inc. (NYSE:LEG) by 43.7% in the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 39,485 shares of the company’s stock after purchasing an additional 12,000 shares during the period. Nisa Investment Advisors LLC’s holdings in Leggett & Platt were worth $1,515,000 at the end of the most recent reporting period.
Other large investors have also recently bought and sold shares of the company. D. E. Shaw & Co. Inc. bought a new position in shares of Leggett & Platt during the 4th quarter valued at approximately $1,652,000. MML Investors Services LLC purchased a new position in Leggett & Platt in the 4th quarter worth approximately $305,000. Dimensional Fund Advisors LP lifted its holdings in Leggett & Platt by 2.3% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,189,463 shares of the company’s stock worth $42,631,000 after purchasing an additional 26,326 shares in the last quarter. Norges Bank purchased a new position in Leggett & Platt in the 4th quarter worth approximately $40,824,000. Finally, Geode Capital Management LLC lifted its holdings in Leggett & Platt by 7.2% in the 4th quarter. Geode Capital Management LLC now owns 2,109,433 shares of the company’s stock worth $75,497,000 after purchasing an additional 141,394 shares in the last quarter. Institutional investors and hedge funds own 76.53% of the company’s stock.
A number of research analysts recently commented on the company. TheStreet cut Leggett & Platt from a “b-” rating to a “c+” rating in a report on Friday, May 31st. ValuEngine cut Leggett & Platt from a “hold” rating to a “sell” rating in a report on Tuesday, July 2nd. Raymond James cut Leggett & Platt from an “outperform” rating to a “market perform” rating in a report on Wednesday, July 24th. Finally, Zacks Investment Research cut Leggett & Platt from a “hold” rating to a “sell” rating in a report on Friday, May 3rd. Two analysts have rated the stock with a sell rating, two have given a hold rating and one has given a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $42.00.
Leggett & Platt (NYSE:LEG) last posted its quarterly earnings results on Monday, July 29th. The company reported $0.64 EPS for the quarter, topping the Zacks’ consensus estimate of $0.63 by $0.01. Leggett & Platt had a return on equity of 27.47% and a net margin of 6.44%. The company had revenue of $1.21 billion for the quarter, compared to analysts’ expectations of $1.28 billion. During the same period in the previous year, the firm earned $0.63 EPS. Sell-side analysts anticipate that Leggett & Platt, Inc. will post 2.44 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Monday, July 15th. Investors of record on Friday, June 14th were issued a $0.40 dividend. The ex-dividend date of this dividend was Thursday, June 13th. This is a boost from Leggett & Platt’s previous quarterly dividend of $0.38. This represents a $1.60 dividend on an annualized basis and a yield of 4.15%. Leggett & Platt’s payout ratio is currently 64.52%.
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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