Macquarie Group Ltd. Has $194,000 Stake in Leggett & Platt Inc. (LEG)
Macquarie Group Ltd. held its stake in Leggett & Platt Inc. (NYSE:LEG) during the second quarter, Holdings Channel reports. The fund owned 3,800 shares of the company’s stock at the end of the second quarter. Macquarie Group Ltd.’s holdings in Leggett & Platt were worth $194,000 as of its most recent SEC filing.
Several other hedge funds also recently added to or reduced their stakes in the stock. Aviva PLC increased its stake in Leggett & Platt by 0.9% in the first quarter. Aviva PLC now owns 70,656 shares of the company’s stock worth $3,420,000 after buying an additional 662 shares during the last quarter. Huntington Asset Advisors Inc. bought a new stake in Leggett & Platt during the first quarter worth $2,135,000. M&T Bank Corp increased its stake in Leggett & Platt by 4.3% in the first quarter. M&T Bank Corp now owns 65,951 shares of the company’s stock worth $3,193,000 after buying an additional 2,695 shares during the last quarter. JPMorgan Chase & Co. increased its stake in Leggett & Platt by 33.6% in the first quarter. JPMorgan Chase & Co. now owns 807,591 shares of the company’s stock worth $39,087,000 after buying an additional 203,020 shares during the last quarter. Finally, BlackRock Japan Co. Ltd increased its stake in Leggett & Platt by 0.3% in the first quarter. BlackRock Japan Co. Ltd now owns 172,362 shares of the company’s stock worth $8,342,000 after buying an additional 524 shares during the last quarter. Hedge funds and other institutional investors own 66.43% of the company’s stock.
Shares of Leggett & Platt Inc. (NYSE:LEG) opened at 45.43 on Tuesday. The company’s 50 day moving average price is $50.27 and its 200 day moving average price is $50.12. Leggett & Platt Inc. has a 12 month low of $36.64 and a 12 month high of $54.63. The company has a market capitalization of $6.07 billion, a P/E ratio of 16.62 and a beta of 0.95.
Leggett & Platt (NYSE:LEG) last released its earnings results on Thursday, July 28th. The company reported $0.66 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.62 by $0.04. Leggett & Platt had a return on equity of 33.71% and a net margin of 10.03%. The business earned $958.90 million during the quarter, compared to the consensus estimate of $1,000 million. During the same period last year, the business posted $0.53 earnings per share. The business’s revenue for the quarter was down 3.9% on a year-over-year basis. Analysts expect that Leggett & Platt Inc. will post $2.50 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, October 14th. Shareholders of record on Thursday, September 15th will be given a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a yield of 2.99%. The ex-dividend date of this dividend is Tuesday, September 13th. Leggett & Platt’s dividend payout ratio is currently 49.64%.
A number of research firms have recently weighed in on LEG. Hilliard Lyons downgraded Leggett & Platt from a “neutral” rating to an “underperform” rating in a research report on Friday, July 29th. Raymond James Financial Inc. reiterated a “market perform” rating on shares of Leggett & Platt in a research report on Monday, August 1st. Citigroup Inc. downgraded Leggett & Platt to a “market perform” rating in a research report on Monday, August 1st. Finally, Zacks Investment Research downgraded Leggett & Platt from a “buy” rating to a “hold” rating in a research report on Tuesday, July 12th.
In other Leggett & Platt news, insider Karl G. Glassman sold 20,000 shares of the firm’s stock in a transaction on Friday, August 26th. The stock was sold at an average price of $52.49, for a total value of $1,049,800.00. Following the completion of the sale, the insider now directly owns 459,850 shares of the company’s stock, valued at $24,137,526.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Dennis S. Park sold 3,000 shares of the firm’s stock in a transaction on Thursday, September 1st. The stock was sold at an average price of $52.48, for a total value of $157,440.00. Following the completion of the sale, the insider now directly owns 276,697 shares of the company’s stock, valued at $14,521,058.56. The disclosure for this sale can be found here. 3.92% of the stock is owned by company insiders.
Leggett & Platt Company Profile
Leggett & Platt, Incorporated is a manufacturer of engineered components and products found in homes, offices, automobiles and commercial aircraft. The Company operates in four segments: Residential Furnishings, Commercial Products, Industrial Materials and Specialized Products. The Residential Furnishings segment manufactures steel coiled bedsprings.
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