Shell Asset Management Co. Has $498,000 Stake in Leggett & Platt, Inc. (LEG)
Shell Asset Management Co. grew its stake in Leggett & Platt, Inc. (NYSE:LEG) by 54.1% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 11,362 shares of the company’s stock after purchasing an additional 3,991 shares during the period. Shell Asset Management Co.’s holdings in Leggett & Platt were worth $498,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds also recently added to or reduced their stakes in LEG. Girard Partners LTD. bought a new stake in shares of Leggett & Platt in the 3rd quarter valued at approximately $100,000. FNY Investment Advisers LLC bought a new stake in shares of Leggett & Platt in the 3rd quarter valued at approximately $132,000. Moneta Group Investment Advisors LLC grew its stake in shares of Leggett & Platt by 159.2% in the 2nd quarter. Moneta Group Investment Advisors LLC now owns 3,175 shares of the company’s stock valued at $142,000 after purchasing an additional 1,950 shares during the period. Signition LP bought a new stake in shares of Leggett & Platt in the 2nd quarter valued at approximately $213,000. Finally, Tower Research Capital LLC TRC grew its stake in shares of Leggett & Platt by 4,684.0% in the 2nd quarter. Tower Research Capital LLC TRC now owns 4,784 shares of the company’s stock valued at $213,000 after purchasing an additional 4,684 shares during the period. Institutional investors own 76.78% of the company’s stock.
Several equities research analysts have recently weighed in on the company. Zacks Investment Research reiterated a “sell” rating on shares of Leggett & Platt in a research note on Tuesday, November 13th. SunTrust Banks decreased their price target on Leggett & Platt to $40.00 and set an “outperform” rating on the stock in a research report on Tuesday, October 30th. TheStreet lowered Leggett & Platt from a “b-” rating to a “c+” rating in a research report on Friday, October 26th. Raymond James lowered Leggett & Platt from a “strong-buy” rating to an “outperform” rating and set a $44.00 price target on the stock. in a research report on Monday, October 29th. Finally, ValuEngine lowered Leggett & Platt from a “hold” rating to a “sell” rating in a research report on Tuesday, October 2nd. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and four have issued a buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $46.17.
Leggett & Platt (NYSE:LEG) last released its quarterly earnings results on Thursday, October 25th. The company reported $0.67 EPS for the quarter, missing the Zacks’ consensus estimate of $0.72 by ($0.05). The business had revenue of $1.09 billion for the quarter, compared to the consensus estimate of $1.10 billion. Leggett & Platt had a return on equity of 28.37% and a net margin of 6.87%. Analysts forecast that Leggett & Platt, Inc. will post 2.44 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, January 15th. Investors of record on Friday, December 14th will be given a dividend of $0.38 per share. The ex-dividend date of this dividend is Thursday, December 13th. This represents a $1.52 dividend on an annualized basis and a yield of 3.96%. Leggett & Platt’s dividend payout ratio (DPR) is presently 61.79%.
Leggett & Platt 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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