Moneta Group Investment Advisors LLC Invests $753,000 in Leggett & Platt, Inc. (NYSE:LEG)
Moneta Group Investment Advisors LLC bought a new stake in Leggett & Platt, Inc. (NYSE:LEG) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 24,039 shares of the company’s stock, valued at approximately $753,000.
Several other institutional investors have also added to or reduced their stakes in the stock. Advisory Services Network LLC grew its position in shares of Leggett & Platt by 25.1% during the 2nd quarter. Advisory Services Network LLC now owns 1,248 shares of the company’s stock worth $48,000 after buying an additional 250 shares during the period. Northwestern Mutual Investment Management Company LLC grew its holdings in Leggett & Platt by 1.4% during the 1st quarter. Northwestern Mutual Investment Management Company LLC now owns 19,918 shares of the company’s stock worth $841,000 after acquiring an additional 273 shares during the period. Cidel Asset Management Inc. raised its position in shares of Leggett & Platt by 2.2% during the 1st quarter. Cidel Asset Management Inc. now owns 12,938 shares of the company’s stock valued at $546,000 after acquiring an additional 281 shares during the last quarter. Woodstock Corp raised its position in shares of Leggett & Platt by 2.3% during the 2nd quarter. Woodstock Corp now owns 13,200 shares of the company’s stock valued at $506,000 after acquiring an additional 300 shares during the last quarter. Finally, Smith Moore & CO. lifted its stake in shares of Leggett & Platt by 2.9% in the 1st quarter. Smith Moore & CO. now owns 10,927 shares of the company’s stock valued at $461,000 after purchasing an additional 310 shares during the period. 78.00% of the stock is owned by institutional investors and hedge funds.
LEG traded up $0.12 during mid-day trading on Wednesday, hitting $41.98. The stock had a trading volume of 64,707 shares, compared to its average volume of 918,303. The stock’s fifty day simple moving average is $38.47 and its 200-day simple moving average is $39.97. The company has a debt-to-equity ratio of 2.01, a current ratio of 1.89 and a quick ratio of 1.16. The firm has a market capitalization of $5.42 billion, a price-to-earnings ratio of 16.93, a price-to-earnings-growth ratio of 1.27 and a beta of 1.08. Leggett & Platt, Inc. has a 1-year low of $33.48 and a 1-year high of $46.57.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Friday, September 13th will be given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 3.81%. The ex-dividend date is Thursday, September 12th. Leggett & Platt’s dividend payout ratio is currently 64.52%.
A number of equities research analysts recently commented on LEG shares. ValuEngine raised Leggett & Platt from a “sell” rating to a “hold” rating in a research note on Tuesday. Raymond James cut Leggett & Platt from an “outperform” rating to a “market perform” rating in a report on Wednesday, July 24th. Finally, TheStreet lowered Leggett & Platt from a “b-” rating to a “c+” rating in a research report on Friday, May 31st. One analyst has rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the company’s stock. Leggett & Platt currently 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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