Neuburgh Advisers LLC Buys 1,600 Shares of Leggett & Platt, Inc. (NYSE:LEG)
Neuburgh Advisers LLC raised its stake in shares of Leggett & Platt, Inc. (NYSE:LEG) by 20.7% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 9,344 shares of the company’s stock after purchasing an additional 1,600 shares during the quarter. Neuburgh Advisers LLC’s holdings in Leggett & Platt were worth $359,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other institutional investors also recently made changes to their positions in LEG. Penserra Capital Management LLC bought a new stake in Leggett & Platt during the first quarter valued at approximately $26,000. Thor Advisors LLC purchased a new position in shares of Leggett & Platt during the first quarter worth approximately $37,000. Advisory Services Network LLC raised its stake in shares of Leggett & Platt by 25.1% during the second quarter. Advisory Services Network LLC now owns 1,248 shares of the company’s stock worth $48,000 after acquiring an additional 250 shares in the last quarter. Flagship Harbor Advisors LLC raised its stake in shares of Leggett & Platt by 386.0% during the second quarter. Flagship Harbor Advisors LLC now owns 1,322 shares of the company’s stock worth $50,000 after acquiring an additional 1,050 shares in the last quarter. Finally, Coastal Investment Advisors Inc. raised its stake in shares of Leggett & Platt by 63.3% during the second quarter. Coastal Investment Advisors Inc. now owns 1,605 shares of the company’s stock worth $62,000 after acquiring an additional 622 shares in the last quarter. Institutional investors and hedge funds own 78.00% of the company’s stock.
Shares of LEG stock traded up $0.12 during trading hours on Thursday, hitting $42.16. 40,469 shares of the company’s stock were exchanged, compared to its average volume of 1,146,585. The company has a market capitalization of $5.42 billion, a PE ratio of 17.04, a PEG ratio of 1.27 and a beta of 1.08. Leggett & Platt, Inc. has a 12-month low of $33.48 and a 12-month high of $46.57. The business’s 50 day simple moving average is $38.51 and its 200-day simple moving average is $39.95. The company has a current ratio of 1.89, a quick ratio of 1.16 and a debt-to-equity ratio of 2.01.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Friday, September 13th will be paid a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 3.80%. The ex-dividend date of this dividend is Thursday, September 12th. Leggett & Platt’s payout ratio is 64.52%.
LEG has been the topic of several research reports. TheStreet downgraded shares of Leggett & Platt from a “b-” rating to a “c+” rating in a research note on Friday, May 31st. ValuEngine raised shares of Leggett & Platt from a “sell” rating to a “hold” rating in a research note on Tuesday. Finally, Raymond James downgraded shares of Leggett & Platt from an “outperform” rating to a “market perform” rating in a research note on Wednesday, July 24th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price 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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