Nomura Asset Management Co. Ltd. increased its stake in shares of Leggett & Platt, Inc. (NYSE:LEG) by 28.1% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 41,570 shares of the company’s stock after acquiring an additional 9,120 shares during the period. Nomura Asset Management Co. Ltd.’s holdings in Leggett & Platt were worth $1,856,000 as of its most recent SEC filing.
Several other large investors also recently modified their holdings of LEG. Epoch Investment Partners Inc. acquired a new stake in shares of Leggett & Platt during the first quarter worth $132,346,000. Schroder Investment Management Group raised its holdings in shares of Leggett & Platt by 431.9% during the first quarter. Schroder Investment Management Group now owns 836,564 shares of the company’s stock worth $37,110,000 after acquiring an additional 679,272 shares during the period. Silvercrest Asset Management Group LLC raised its holdings in shares of Leggett & Platt by 8,960.1% during the first quarter. Silvercrest Asset Management Group LLC now owns 501,931 shares of the company’s stock worth $22,266,000 after acquiring an additional 496,391 shares during the period. Bank of Montreal Can acquired a new stake in shares of Leggett & Platt during the second quarter worth $21,353,000. Finally, Dimensional Fund Advisors LP raised its holdings in shares of Leggett & Platt by 42.3% during the first quarter. Dimensional Fund Advisors LP now owns 1,034,888 shares of the company’s stock worth $45,908,000 after acquiring an additional 307,448 shares during the period. Institutional investors and hedge funds own 77.17% of the company’s stock.
In other Leggett & Platt 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 sale, the director now directly owns 38,376 shares in the company, valued at approximately $1,591,452.72. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 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 sale, the insider now owns 115,039 shares in the company, valued at $5,072,069.51. The disclosure for this sale can be found here. 1.52% of the stock is currently owned by insiders.
A number of brokerages recently commented on LEG. SunTrust Banks dropped their price objective on shares of Leggett & Platt to $48.00 and set a “buy” rating on the stock in a report on Tuesday, May 1st. Stifel Nicolaus upgraded shares of Leggett & Platt from a “hold” rating to a “buy” rating and raised their price objective for the stock from $48.00 to $50.00 in a report on Thursday, May 31st. Zacks Investment Research upgraded shares of Leggett & Platt from a “sell” rating to a “hold” rating in a report on Monday, July 2nd. ValuEngine lowered shares of Leggett & Platt from a “hold” rating to a “sell” rating in a research note on Wednesday, May 2nd. Finally, Credit Suisse Group lowered their price target on shares of Leggett & Platt from $51.00 to $46.00 and set a “neutral” rating on the stock in a research note on Friday, April 27th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $48.20.
Shares of LEG stock opened at $44.60 on Monday. The company has a current ratio of 1.90, a quick ratio of 1.23 and a debt-to-equity ratio of 1.15. Leggett & Platt, Inc. has a 1 year low of $39.57 and a 1 year high of $51.99. The firm has a market capitalization of $5.64 billion, a price-to-earnings ratio of 18.13, a price-to-earnings-growth ratio of 1.55 and a beta of 0.88.
Leggett & Platt (NYSE:LEG) last issued its quarterly earnings results on Thursday, July 26th. The company reported $0.63 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.61 by $0.02. Leggett & Platt had a net margin of 6.83% and a return on equity of 27.73%. The firm had revenue of $1.10 billion for the quarter, compared to analyst estimates of $1.09 billion. During the same period in the previous year, the business earned $0.64 EPS. The company’s revenue was up 11.4% compared to the same quarter last year. research analysts expect that Leggett & Platt, Inc. will post 2.62 EPS for the current year.
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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