US Bancorp DE lifted its position in Leggett & Platt, Inc. (NYSE:LEG) by 9.1% in the second quarter, HoldingsChannel reports. The firm owned 2,004,780 shares of the company’s stock after buying an additional 167,524 shares during the period. US Bancorp DE’s holdings in Leggett & Platt were worth $76,924,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently made changes to their positions in LEG. Penserra Capital Management LLC purchased a new stake in shares of Leggett & Platt in the first quarter valued at about $26,000. Thor Advisors LLC purchased a new stake in shares of Leggett & Platt in the first quarter valued at about $37,000. Advisory Services Network LLC grew its holdings in shares of Leggett & Platt by 25.1% in the second quarter. Advisory Services Network LLC now owns 1,248 shares of the company’s stock valued at $48,000 after purchasing an additional 250 shares during the period. Flagship Harbor Advisors LLC grew its holdings in shares of Leggett & Platt by 386.0% in the second quarter. Flagship Harbor Advisors LLC now owns 1,322 shares of the company’s stock valued at $50,000 after purchasing an additional 1,050 shares during the period. Finally, Coastal Investment Advisors Inc. grew its holdings in shares of Leggett & Platt by 63.3% in the second quarter. Coastal Investment Advisors Inc. now owns 1,605 shares of the company’s stock valued at $62,000 after purchasing an additional 622 shares during the period. 78.00% of the stock is owned by hedge funds and other institutional investors.
LEG stock traded down $0.05 during mid-day trading on Friday, hitting $42.13. 956,158 shares of the company were exchanged, compared to its average volume of 949,365. The company has a quick ratio of 1.16, a current ratio of 1.89 and a debt-to-equity ratio of 2.01. The firm has a market capitalization of $5.53 billion, a P/E ratio of 16.99, a PEG ratio of 1.32 and a beta of 1.08. The business has a fifty day simple moving average of $38.57 and a 200-day simple moving average of $39.93. Leggett & Platt, Inc. has a 12-month low of $33.48 and a 12-month high of $46.57.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Friday, September 13th will be paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 3.80%. The ex-dividend date is Thursday, September 12th. Leggett & Platt’s dividend payout ratio (DPR) is presently 64.52%.
A number of equities research analysts recently issued reports on LEG shares. ValuEngine raised shares of Leggett & Platt from a “sell” rating to a “hold” rating in a report on Tuesday. Raymond James lowered shares of Leggett & Platt from an “outperform” rating to a “market perform” rating in a report on Wednesday, July 24th. Finally, TheStreet lowered shares of Leggett & Platt from a “b-” rating to a “c+” rating in a research note on Friday, May 31st. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $42.00.
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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