CIBC Private Wealth Group LLC lessened its holdings in shares of Leggett & Platt, Inc. (NYSE:LEG) by 5.0% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 16,003 shares of the company’s stock after selling 848 shares during the period. CIBC Private Wealth Group LLC’s holdings in Leggett & Platt were worth $574,000 at the end of the most recent reporting period.
Several other hedge funds have also made changes to their positions in LEG. Intercontinental Wealth Advisors LLC bought a new stake in shares of Leggett & Platt during the fourth quarter worth $30,000. Girard Partners LTD. bought a new stake in shares of Leggett & Platt during the third quarter worth $100,000. Oppenheimer Asset Management Inc. bought a new stake in shares of Leggett & Platt during the fourth quarter worth $112,000. Federated Investors Inc. PA bought a new stake in shares of Leggett & Platt during the third quarter worth $113,000. Finally, FNY Investment Advisers LLC acquired a new position in shares of Leggett & Platt during the third quarter valued at $132,000. Institutional investors own 79.63% of the company’s stock.
In other Leggett & Platt news, Director Joseph W. Mcclanathan sold 10,143 shares of the stock in a transaction dated Thursday, February 14th. The stock was sold at an average price of $43.83, for a total value of $444,567.69. Following the transaction, the director now owns 26,034 shares of the company’s stock, valued at $1,141,070.22. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 1.52% of the company’s stock.
Shares of LEG opened at $45.27 on Thursday. The company has a current ratio of 1.87, a quick ratio of 1.09 and a debt-to-equity ratio of 1.01. Leggett & Platt, Inc. has a 12-month low of $33.48 and a 12-month high of $47.44. The firm has a market cap of $5.86 billion, a PE ratio of 18.25, a PEG ratio of 1.95 and a beta of 1.09.
Leggett & Platt (NYSE:LEG) last issued its quarterly earnings results on Monday, February 4th. The company reported $0.62 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.57 by $0.05. Leggett & Platt had a return on equity of 28.99% and a net margin of 7.16%. The business had revenue of $1.05 billion for the quarter, compared to analyst estimates of $1.02 billion. During the same quarter in the prior year, the firm posted $0.59 earnings per share. The firm’s revenue for the quarter was up 6.7% compared to the same quarter last year. Research analysts anticipate that Leggett & Platt, Inc. will post 2.53 EPS for the current fiscal year.
Several brokerages have recently issued reports on LEG. Zacks Investment Research lowered Leggett & Platt from a “hold” rating to a “sell” rating in a research note on Thursday, February 7th. Gabelli lowered Leggett & Platt from a “buy” rating to a “hold” rating in a research note on Wednesday, February 6th. SunTrust Banks cut their price target on Leggett & Platt to $40.00 and set an “outperform” rating on the stock in a research note on Tuesday, October 30th. TheStreet lowered Leggett & Platt from a “b-” rating to a “c+” rating in a research note on Friday, October 26th. Finally, 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 note on Monday, October 29th. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and three have given a buy rating to the company. Leggett & Platt currently has a consensus rating of “Hold” and a consensus price target of $45.80.
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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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