Linscomb & Williams Inc. grew its holdings in shares of Leggett & Platt, Inc. (NYSE:LEG) by 7.7% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 71,641 shares of the company’s stock after purchasing an additional 5,149 shares during the period. Linscomb & Williams Inc. owned approximately 0.05% of Leggett & Platt worth $3,419,000 as of its most recent SEC filing.
Several other hedge funds have also added to or reduced their stakes in LEG. Dupont Capital Management Corp purchased a new position in Leggett & Platt in the 4th quarter worth approximately $122,000. SeaCrest Wealth Management LLC purchased a new position in Leggett & Platt in the 4th quarter worth approximately $193,000. Profund Advisors LLC purchased a new position in Leggett & Platt in the 2nd quarter worth approximately $217,000. TRUE Private Wealth Advisors purchased a new position in Leggett & Platt in the 4th quarter worth approximately $217,000. Finally, Engineers Gate Manager LP purchased a new position in Leggett & Platt in the 3rd quarter worth approximately $217,000. Hedge funds and other institutional investors own 68.22% of the company’s stock.
A number of brokerages recently weighed in on LEG. Zacks Investment Research upgraded shares of Leggett & Platt from a “sell” rating to a “hold” rating in a report on Tuesday, November 7th. Piper Jaffray Companies downgraded shares of Leggett & Platt from an “overweight” rating to a “neutral” rating and set a $46.00 target price for the company. in a research report on Monday, October 30th. Gabelli raised shares of Leggett & Platt from a “hold” rating to a “buy” rating in a research report on Wednesday. Finally, SunTrust Banks reaffirmed a “buy” rating and issued a $53.00 target price on shares of Leggett & Platt in a research report on Friday, October 27th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and four have assigned a buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $54.57.
Leggett & Platt (NYSE:LEG) last issued its quarterly earnings data on Monday, February 5th. The company reported $0.59 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.61 by ($0.02). Leggett & Platt had a net margin of 7.42% and a return on equity of 29.44%. The business had revenue of $984.00 million for the quarter, compared to the consensus estimate of $998.32 million. During the same period in the previous year, the firm earned $0.53 EPS. The company’s revenue was up 8.9% on a year-over-year basis. sell-side analysts expect that Leggett & Platt, Inc. will post 2.76 earnings per share for the current fiscal year.
In related news, SVP Scott S. Douglas sold 3,000 shares of the company’s stock in a transaction on Monday, November 20th. The shares were sold at an average price of $46.45, for a total value of $139,350.00. Following the completion of the transaction, the senior vice president now owns 35,289 shares of the company’s stock, valued at approximately $1,639,174.05. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Scott S. Douglas sold 10,000 shares of the company’s stock in a transaction on Wednesday, February 7th. The stock was sold at an average price of $47.01, for a total transaction of $470,100.00. Following the completion of the transaction, the senior vice president now directly owns 29,584 shares of the company’s stock, valued at approximately $1,390,743.84. The disclosure for this sale can be found here. In the last three months, insiders have sold 13,250 shares of company stock valued at $621,070. Insiders own 1.78% of the company’s stock.
TRADEMARK VIOLATION WARNING: This story was first posted by StockNewsTimes and is the sole property of of StockNewsTimes. If you are reading this story on another site, it was stolen and reposted in violation of United States and international trademark & copyright law. The original version of this story can be viewed at https://stocknewstimes.com/2018/02/11/linscomb-williams-inc-purchases-5149-shares-of-leggett-platt-inc-leg.html.
Leggett & Platt Profile
Leggett & Platt, Incorporated is a manufacturer that conceives, designs and produces a range of engineered components and products found in homes, offices and automobiles. The Company operates in four segments: Residential Furnishings, Commercial Products, Industrial Materials and Specialized Products.
Receive News & Ratings for Leggett & Platt Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Leggett & Platt and related companies with MarketBeat.com's FREE daily email newsletter.