Stock of The Day: Do Institutional Investors Love Leggett & Platt Inc (NYSE:LEG)?

November 28, 2016 - By Dolores Ford   ·   0 Comments

Stock of The Day: Do Institutional Investors Love Leggett & Platt Inc (NYSE:LEG)?

Sentiment for Leggett & Platt Inc (NYSE:LEG)

Leggett & Platt Inc (NYSE:LEG) institutional sentiment increased to 1.58 in 2016 Q2. Its up 0.64, from 0.94 in 2016Q1. The ratio increased, as 173 hedge funds opened new or increased stock positions, while 184 cut down and sold their stock positions in Leggett & Platt Inc. The hedge funds in our partner’s database now hold: 87.86 million shares, down from 92.82 million shares in 2016Q1. Also, the number of hedge funds holding Leggett & Platt Inc in their top 10 stock positions increased from 3 to 4 for an increase of 1. Sold All: 35 Reduced: 149 Increased: 135 New Position: 38.

Leggett & Platt, Incorporated is a manufacturer of engineered components and products found in homes, offices, automobiles and commercial aircraft. The company has a market cap of $6.58 billion. The Firm operates in four divisions: Residential Furnishings, Commercial Products, Industrial Materials and Specialized Products. It has a 18.8 P/E ratio. The Residential Furnishings segment makes steel coiled bedsprings.

About 191,810 shares traded hands. Leggett & Platt, Inc. (NYSE:LEG) has risen 3.36% since April 25, 2016 and is uptrending. It has underperformed by 2.65% the S&P500.

Analysts await Leggett & Platt, Inc. (NYSE:LEG) to report earnings on February, 6. They expect $0.58 earnings per share, down 9.38% or $0.06 from last year’s $0.64 per share. LEG’s profit will be $78.20 million for 21.03 P/E if the $0.58 EPS becomes a reality. After $0.67 actual earnings per share reported by Leggett & Platt, Inc. for the previous quarter, Wall Street now forecasts -13.43% negative EPS growth.

According to Zacks Investment Research, “Leggett & Platt, Inc. is one of the leading manufacturers of engineered products serving several major markets. Sales and production are focused on residential furnishings, commercial furnishings, aluminum products, industrial materials, and specialized products. The company has facilities throughout North America and in numerous international locations. (Company Press Release)”

Villere St Denis J & Co Llc holds 4.42% of its portfolio in Leggett & Platt, Inc. for 1.44 million shares. Welch Group Llc owns 298,754 shares or 3.11% of their US portfolio. Moreover, Speece Thorson Capital Group Inc has 3.09% invested in the company for 278,985 shares. The Tennessee-based Argent Trust Co has invested 2.21% in the stock. Thomaspartners Inc., a Massachusetts-based fund reported 3.15 million shares.#img1#

Insider Transactions: Since January 1, 0001, the stock had 0 buys, and 6 sales for $2.64 million net activity.

Leggett & Platt, Inc. (NYSE:LEG) Ratings Coverage

Ratings analysis reveals 50% of Leggett & Platt’s analysts are positive. Out of 2 Wall Street analysts rating Leggett & Platt, 1 give it “Buy”, 1 “Sell” rating, while 0 recommend “Hold”. LEG was included in 4 notes of analysts from August 5, 2015. JP Morgan upgraded the shares of LEG in a report on Friday, September 11 to “Overweight” rating. The firm has “Buy” rating given on Wednesday, August 5 by Zacks. The stock has “Underperform” rating given by Hilliard Lyons on Friday, July 29. The firm has “” rating given on Monday, August 31 by Raymond James.

LEG Company Profile

Leggett & Platt, Incorporated, incorporated on February 23, 1901, is a maker that conceives, creates and produces a range of engineered components and products found in homes, offices, automobiles and commercial aircraft. The Firm operates in four divisions: Residential Furnishings, Commercial Products, Industrial Materials and Specialized Products. The Company’s brands include ComfortCore, Mira-Coil, VertiCoil, Lura-Flex and Superlastic, which offer mattress innersprings; Semi-Flex, which makes box spring components and foundations; Active Support Technology, which makes mattress innersprings; Wall Hugger, which makes recliner chair mechanisms; Super Sagless, which makes motion and sofa sleeper mechanisms; No-Sag, which makes wire forms used in seating; LPSense, which offers capacitive sensing; Hanes, which offers fabric materials; Schukra, Pullmaflex and Flex-O-Lator, which provide automotive seating products, and Gribetz and Porter, which manufacture quilting and sewing machines.

More important recent Leggett & Platt, Inc. (NYSE:LEG) news were published by: Marketwatch.com which released: “Leggett & Platt downgraded to market perform from outperform at Raymond James” on May 12, 2009, also Streetinsider.com published article titled: “Form 4 LEGGETT & PLATT INC For: Nov 23 Filed by: Iorio Russell J”, Forbes.com published: “Leggett & Platt is Oversold” on September 28, 2016. More interesting news about Leggett & Platt, Inc. (NYSE:LEG) was released by: Valuewalk.com and their article: “Dividend Aristocrats In Focus Part 21: Leggett & Platt, Inc. (LEG)” with publication date: November 14, 2016.

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By Dolores Ford


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