Leggett & Platt, Incorporated (NYSE:LEG) Shares Purchased by Amalgamated Bank
Amalgamated Bank boosted its stake in Leggett & Platt, Incorporated (NYSE:LEG - Get Rating) by 22.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 116,187 shares of the company's stock after acquiring an additional 21,107 shares during the period. Amalgamated Bank owned 0.09% of Leggett & Platt worth $3,745,000 at the end of the most recent reporting period.
Several other institutional investors have also recently added to or reduced their stakes in LEG. BlackRock Inc. grew its position in Leggett & Platt by 2.0% in the 3rd quarter. BlackRock Inc. now owns 15,118,584 shares of the company's stock valued at $502,239,000 after buying an additional 301,672 shares in the last quarter. State Street Corp grew its position in Leggett & Platt by 35.5% in the 1st quarter. State Street Corp now owns 14,506,308 shares of the company's stock valued at $510,661,000 after buying an additional 3,803,469 shares in the last quarter. Vanguard Group Inc. lifted its holdings in Leggett & Platt by 0.5% in the 3rd quarter. Vanguard Group Inc. now owns 12,946,780 shares of the company's stock valued at $430,093,000 after acquiring an additional 64,443 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in Leggett & Platt by 5.8% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 4,879,061 shares of the company's stock valued at $169,791,000 after acquiring an additional 265,480 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its holdings in Leggett & Platt by 11.0% in the 4th quarter. Dimensional Fund Advisors LP now owns 2,233,966 shares of the company's stock valued at $72,000,000 after acquiring an additional 221,468 shares during the last quarter. 69.42% of the stock is owned by institutional investors and hedge funds.
A number of equities research analysts have weighed in on the stock. StockNews.com assumed coverage on shares of Leggett & Platt in a report on Thursday, May 18th. They issued a "hold" rating for the company. The Goldman Sachs Group lowered shares of Leggett & Platt from a "buy" rating to a "neutral" rating and reduced their price target for the stock from $39.00 to $34.00 in a research report on Tuesday, April 11th. Finally, Piper Sandler dropped their price objective on Leggett & Platt from $24.00 to $21.00 and set an "underweight" rating on the stock in a report on Wednesday, February 8th.
In related news, Director Phoebe A. Wood sold 6,000 shares of the firm's stock in a transaction on Tuesday, May 23rd. The stock was sold at an average price of $32.61, for a total value of $195,660.00. Following the completion of the transaction, the director now directly owns 53,109 shares of the company's stock, valued at $1,731,884.49. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 1.57% of the stock is owned by company insiders.
Shares of LEG stock opened at $30.26 on Friday. The business's 50 day moving average is $31.71 and its two-hundred day moving average is $33.19. The company has a market cap of $4.03 billion, a PE ratio of 15.13 and a beta of 1.30. The company has a quick ratio of 1.16, a current ratio of 2.08 and a debt-to-equity ratio of 1.27. Leggett & Platt, Incorporated has a 12 month low of $30.05 and a 12 month high of $41.94.
Leggett & Platt (NYSE:LEG - Get Rating) last announced its quarterly earnings data on Monday, May 1st. The company reported $0.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.26 by $0.13. The business had revenue of $1.21 billion for the quarter, compared to the consensus estimate of $1.19 billion. Leggett & Platt had a net margin of 5.42% and a return on equity of 16.83%. Leggett & Platt's quarterly revenue was down 8.2% on a year-over-year basis. During the same quarter last year, the company posted $0.66 earnings per share. Equities analysts predict that Leggett & Platt, Incorporated will post 1.61 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, July 14th. Investors of record on Thursday, June 15th will be given a $0.46 dividend. This is a boost from Leggett & Platt's previous quarterly dividend of $0.44. This represents a $1.84 annualized dividend and a yield of 6.08%. The ex-dividend date is Wednesday, June 14th. Leggett & Platt's dividend payout ratio (DPR) is 88.00%.
Leggett & Platt, Inc engages in the manufacture and distribution of furniture and engineered components and products among homes, offices, automobiles, and commercial aircraft. It operates through the following segments: Bedding, Flooring, Furniture & Textile, and Specialized Products. The Bedding Products segment supplies products and components for the home, including mattress springs and specialty foam, as well as adjustable beds, bedding machinery, steel rod, and drawn wire.
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