HL Financial Services LLC trimmed its position in shares of Leggett & Platt, Inc. (NYSE:LEG) by 75.5% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,349 shares of the company’s stock after selling 19,554 shares during the quarter. HL Financial Services LLC’s holdings in Leggett & Platt were worth $283,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently made changes to their positions in LEG. Bedel Financial Consulting Inc. bought a new position in shares of Leggett & Platt during the first quarter worth $132,000. Federated Investors Inc. PA bought a new position in shares of Leggett & Platt during the first quarter worth $138,000. Hilltop Holdings Inc. bought a new position in shares of Leggett & Platt during the first quarter worth $200,000. Osborn Williams & Donohoe LLC bought a new position in shares of Leggett & Platt during the second quarter worth $201,000. Finally, Confluence Wealth Management LLC bought a new position in shares of Leggett & Platt during the second quarter worth $213,000. 77.17% of the stock is currently owned by institutional investors.
Shares of NYSE:LEG opened at $44.60 on Monday. Leggett & Platt, Inc. has a 12 month low of $39.57 and a 12 month high of $51.99. The company has a current ratio of 1.90, a quick ratio of 1.23 and a debt-to-equity ratio of 1.15. The firm has a market cap of $5.64 billion, a P/E ratio of 18.13, a P/E/G ratio of 1.55 and a beta of 0.88.
Leggett & Platt (NYSE:LEG) last issued its quarterly earnings data on Thursday, July 26th. The company reported $0.63 EPS for the quarter, topping analysts’ consensus estimates of $0.61 by $0.02. Leggett & Platt had a net margin of 6.83% and a return on equity of 27.73%. The business had revenue of $1.10 billion for the quarter, compared to analyst estimates of $1.09 billion. During the same period last year, the business posted $0.64 earnings per share. The firm’s quarterly revenue was up 11.4% on a year-over-year basis. research analysts predict that Leggett & Platt, Inc. will post 2.62 earnings per share for the current fiscal year.
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. Company insiders own 1.52% of the company’s stock.
A number of brokerages have recently weighed in on LEG. SunTrust Banks reduced their price target on shares of Leggett & Platt to $48.00 and set a “buy” rating on the stock in a research report on Tuesday, May 1st. Stifel Nicolaus raised shares of Leggett & Platt from a “hold” rating to a “buy” rating and lifted their price target for the stock from $48.00 to $50.00 in a research report on Thursday, May 31st. Zacks Investment Research raised shares of Leggett & Platt from a “sell” rating to a “hold” rating in a research report on Monday, July 2nd. ValuEngine cut shares of Leggett & Platt from a “hold” rating to a “sell” rating in a research report on Wednesday, May 2nd. Finally, Credit Suisse Group dropped their price objective on shares of Leggett & Platt from $51.00 to $46.00 and set a “neutral” rating on the stock in a report on Friday, April 27th. Two analysts have rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $48.20.
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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