Todays Report: The LMR Partners LLP Purchases 8,290 Shares of Leggett & Platt Inc. (LEG)

The LMR Partners LLP Purchases 8,290  Shares of Leggett & Platt Inc. (LEG)

LMR Partners LLP acquired a new stake in Leggett & Platt Inc. (NYSE:LEG) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 8,290 shares of the company’s stock, valued at approximately $423,000.

A number of other large investors have also added to or reduced their stakes in the company. TNB Financial purchased a new stake in Leggett & Platt during the second quarter worth about $204,000. ING Groep NV purchased a new stake in Leggett & Platt during the second quarter worth about $244,000. Bayesian Capital Management LP purchased a new stake in Leggett & Platt during the first quarter worth about $305,000. HL Financial Services LLC increased its stake in Leggett & Platt by 3.5% in the second quarter. HL Financial Services LLC now owns 6,143 shares of the company’s stock worth $314,000 after buying an additional 210 shares in the last quarter. Finally, OMERS ADMINISTRATION Corp purchased a new stake in Leggett & Platt during the first quarter worth about $315,000. Institutional investors own 66.41% of the company’s stock.

Leggett & Platt Inc. (NYSE:LEG) traded up 0.61% on Wednesday, hitting $45.87. The stock had a trading volume of 360,282 shares. Leggett & Platt Inc. has a 12 month low of $36.64 and a 12 month high of $54.63. The company’s 50 day moving average is $49.16 and its 200-day moving average is $50.02. The stock has a market cap of $6.13 billion, a P/E ratio of 16.78 and a beta of 0.95.

Leggett & Platt (NYSE:LEG) last announced its quarterly earnings data on Thursday, July 28th. The company reported $0.66 earnings per share for the quarter, beating analysts’ consensus estimates of $0.62 by $0.04. The business had revenue of $958.90 million for the quarter, compared to analyst estimates of $1,000 million. Leggett & Platt had a return on equity of 33.71% and a net margin of 10.03%. The company’s revenue was down 3.9% on a year-over-year basis. During the same period in the prior year, the company earned $0.53 earnings per share. Analysts forecast that Leggett & Platt Inc. will post $2.50 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Friday, October 14th. Investors of record on Thursday, September 15th will be issued a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a yield of 2.98%. The ex-dividend date is Tuesday, September 13th. Leggett & Platt’s dividend payout ratio (DPR) is 49.64%.

A number of research firms have issued reports on LEG. Zacks Investment Research downgraded Leggett & Platt from a “buy” rating to a “hold” rating in a research note on Tuesday, July 12th. Citigroup Inc. cut Leggett & Platt to a “market perform” rating in a research report on Monday, August 1st. Raymond James Financial Inc. reaffirmed a “market perform” rating on shares of Leggett & Platt in a research report on Monday, August 1st. Finally, Hilliard Lyons cut Leggett & Platt from a “neutral” rating to an “underperform” rating in a research report on Friday, July 29th.

In related news, insider Dennis S. Park sold 3,000 shares of the firm’s stock in a transaction dated Thursday, September 1st. The stock was sold at an average price of $52.48, for a total transaction of $157,440.00. Following the sale, the insider now directly owns 276,697 shares of the company’s stock, valued at $14,521,058.56. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, SVP Scott S. Douglas sold 2,000 shares of the firm’s stock in a transaction dated Wednesday, August 24th. The stock was sold at an average price of $51.95, for a total value of $103,900.00. Following the sale, the senior vice president now directly owns 38,363 shares in the company, valued at $1,992,957.85. The disclosure for this sale can be found here. Corporate insiders own 3.92% of the company’s stock.

About Leggett & Platt

Leggett & Platt, Incorporated is a manufacturer of engineered components and products found in homes, offices, automobiles and commercial aircraft. The Company operates in four segments: Residential Furnishings, Commercial Products, Industrial Materials and Specialized Products. The Residential Furnishings segment manufactures steel coiled bedsprings.

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