Eagle Global Advisors Lowered Its Genesis Energy LP (GEL) Position by $2.47 Million; Stock Value Rose; Union Bankshares Holding in Leggett & Platt (LEG) Boosted by $317,108 as Stock Declined

June 14, 2018 - By Louis Casey

Genesis Energy, L.P. (NYSE:GEL) Logo

Union Bankshares Corp increased its stake in Leggett & Platt Inc (LEG) by 14.27% based on its latest 2018Q1 regulatory filing with the SEC. Union Bankshares Corp bought 7,207 shares as the company’s stock declined 6.07% with the market. The institutional investor held 57,716 shares of the consumer durables company at the end of 2018Q1, valued at $2.56M, up from 50,509 at the end of the previous reported quarter. Union Bankshares Corp who had been investing in Leggett & Platt Inc for a number of months, seems to be bullish on the $5.81B market cap company. The stock increased 1.44% or $0.63 during the last trading session, reaching $44.27. About 697,309 shares traded. Leggett & Platt, Incorporated (NYSE:LEG) has declined 20.13% since June 14, 2017 and is downtrending. It has underperformed by 32.70% the S&P500. Some Historical LEG News: 15/05/2018 – Leggett & Platt Raises Dividend to 38c; 09/03/2018 Leggett & Platt Volume Rises More Than Triple 20 Day Average; 16/03/2018 – VP Douglas Gifts 100 Of Leggett & Platt Inc; 26/04/2018 – LEGGETT & PLATT 1Q ADJ EPS CONT OPS 57C, EST. 59C; 26/04/2018 – CORRECT: LEGGETT & PLATT SEES FY EPS $2.60 TO $2.80, EST. $2.76; 26/04/2018 – LEGGETT & PLATT INC – 2018 EPS GUIDANCE LOWERED TO $2.60 TO $2.80; 26/04/2018 – LEGGETT & PLATT INC LEG.N SEES FY 2018 SALES UP 9 TO 12 PCT; 26/04/2018 – LEGGETT & PLATT INC LEG.N SEES FY 2018 SALES $4.3 BLN TO $4.4 BLN; 22/04/2018 – DJ Leggett & Platt Incorporated, Inst Holders, 1Q 2018 (LEG); 26/04/2018 – LEGGETT & PLATT INC LEG.N FY2018 SHR VIEW $2.75 — THOMSON REUTERS l/B/E/S

Eagle Global Advisors Llc decreased its stake in Genesis Energy LP (GEL) by 18.7% based on its latest 2018Q1 regulatory filing with the SEC. Eagle Global Advisors Llc sold 130,208 shares as the company’s stock rose 3.69% while stock markets declined. The hedge fund held 566,010 shares of the energy company at the end of 2018Q1, valued at $11.16M, down from 696,218 at the end of the previous reported quarter. Eagle Global Advisors Llc who had been investing in Genesis Energy LP for a number of months, seems to be less bullish one the $2.88B market cap company. The stock increased 1.51% or $0.35 during the last trading session, reaching $23.47. About 129,087 shares traded. Genesis Energy, L.P. (NYSE:GEL) has declined 32.24% since June 14, 2017 and is downtrending. It has underperformed by 44.81% the S&P500. Some Historical GEL News: 15/04/2018 – GENESIS ENERGY SAYS JOHN LEUCHERS RETIRES FROM BOARD; 02/04/2018 – Sientra Reports the Long-term Safety and Effectiveness of Silicone Gel Breast Implants with Results from the Largest Core Breas; 03/04/2018 – S&PGR Rates Housing Co. Notting Hill Genesis ‘A+’; Outlook Neg; 09/03/2018 – Moody’s Places The Ratings For Notting Hill Housing Group Under Review For Downgrade On Anticipated Merger With Genesis Housing Association; 28/03/2018 – Genesis Shows `Turning Point’ Battery Car: N.Y. Auto Show Update; 15/04/2018 – GENESIS ENERGY NAMES BARBARA CHAPMAN AS NON-EXEC DIRECTOR; 04/05/2018 – Genesis Energy 1Q Rev $725.8M; 24/04/2018 – FDA: Keystone Dental Inc- Genesis Surgical Cassette Tapered Implants are intended for placement following natural tooth l; 28/03/2018 – Genesis Debuts All-Electric Essentia Concept at New York Show; 26/04/2018 – ClinicalTrial US: Clinical and Histologic Evaluation of Picato 0.15% Gel in the Cosmetic Improvement of Photoaged Skin

Another recent and important Genesis Energy, L.P. (NYSE:GEL) news was published by Investorplace.com which published an article titled: “The Mighty Middle of the Market” on June 13, 2018.

Investors sentiment decreased to 0.9 in 2018 Q1. Its down 0.10, from 1 in 2017Q4. It is negative, as 18 investors sold GEL shares while 41 reduced holdings. 13 funds opened positions while 40 raised stakes. 85.91 million shares or 1.88% less from 87.56 million shares in 2017Q4 were reported. Ent Svcs holds 0.02% of its portfolio in Genesis Energy, L.P. (NYSE:GEL) for 1,935 shares. Fort Washington Invest Advsrs Oh stated it has 92,420 shares or 0.02% of all its holdings. Pinnacle Ltd Com reported 103,649 shares or 0% of all its holdings. Glenmede Na holds 138,816 shares. Schroder Investment Mngmt Grp Inc reported 12,200 shares. Financial Architects reported 0.01% in Genesis Energy, L.P. (NYSE:GEL). Deutsche Comml Bank Ag owns 662,939 shares or 0.01% of their US portfolio. Raymond James Financial Svcs Advsr Inc, a Florida-based fund reported 291,305 shares. Sei Invests Communication has invested 0% of its portfolio in Genesis Energy, L.P. (NYSE:GEL). Hightower Advsr Ltd has 0.03% invested in Genesis Energy, L.P. (NYSE:GEL) for 202,948 shares. Chickasaw Cap Limited Liability has 12.45M shares for 5.83% of their portfolio. Susquehanna Interest Gp Llp has 0% invested in Genesis Energy, L.P. (NYSE:GEL) for 90,373 shares. Exane Derivatives holds 0% of its portfolio in Genesis Energy, L.P. (NYSE:GEL) for 44 shares. Argent has 1.78% invested in Genesis Energy, L.P. (NYSE:GEL). Salient Lta invested 0.1% in Genesis Energy, L.P. (NYSE:GEL).

Eagle Global Advisors Llc, which manages about $3.60 billion and $2.90 billion US Long portfolio, upped its stake in Mizuho Finl Group Inc (NYSE:MFG) by 104,000 shares to 453,000 shares, valued at $1.68M in 2018Q1, according to the filing. It also increased its holding in Gaslog Ltd (NYSE:GLOG) by 65,210 shares in the quarter, for a total of 3.67 million shares, and has risen its stake in Canadian Pac Ry Ltd (NYSE:CP).

Analysts await Genesis Energy, L.P. (NYSE:GEL) to report earnings on August, 1. They expect $0.18 earnings per share, down 35.71% or $0.10 from last year’s $0.28 per share. GEL’s profit will be $22.06 million for 32.60 P/E if the $0.18 EPS becomes a reality. After $0.22 actual earnings per share reported by Genesis Energy, L.P. for the previous quarter, Wall Street now forecasts -18.18% negative EPS growth.

Among 14 analysts covering Genesis Energy LP (NYSE:GEL), 9 have Buy rating, 0 Sell and 5 Hold. Therefore 64% are positive. Genesis Energy LP had 42 analyst reports since July 21, 2015 according to SRatingsIntel. The firm has “Overweight” rating by CapitalOne given on Monday, November 14. The firm has “Market Perform” rating given on Friday, January 15 by Wells Fargo. On Friday, September 25 the stock rating was initiated by Cowen & Co with “Buy”. The stock of Genesis Energy, L.P. (NYSE:GEL) earned “Outperform” rating by Credit Suisse on Friday, February 19. The firm has “Buy” rating by UBS given on Friday, March 2. CapitalOne initiated Genesis Energy, L.P. (NYSE:GEL) rating on Monday, October 17. CapitalOne has “Equal Weight” rating and $40 target. The firm has “Hold” rating by RBC Capital Markets given on Monday, September 25. The firm has “Buy” rating by Wunderlich given on Friday, September 25. On Thursday, August 4 the stock rating was maintained by UBS with “Buy”. Robert W. Baird upgraded it to “Outperform” rating and $37 target in Monday, August 7 report.

Since December 19, 2017, it had 2 buys, and 1 sale for $570,400 activity. Flynn Edward T had bought 12,525 shares worth $249,999 on Friday, March 2. Gaspard Garland G had sold 700 shares worth $14,399.

More notable recent Leggett & Platt, Incorporated (NYSE:LEG) news were published by: Seekingalpha.com which released: “Leggett & Platt Dividend Stock Analysis” on May 18, 2018, also Seekingalpha.com with their article: “Bert’s Recent Buy – Leggett & Platt, Inc.” published on June 06, 2018, Investorplace.com published: “4 Notable Dividend Increases From the Past Week — Including Lam Research Corproation” on May 21, 2018. More interesting news about Leggett & Platt, Incorporated (NYSE:LEG) were released by: Benzinga.com and their article: “Leggett & Platt Notches Sell-Side Upgrade: Stifel Projects Upcoming Inflection Point” published on May 31, 2018 as well as Seekingalpha.com‘s news article titled: “Expected Dividend Increases In June 2018” with publication date: May 31, 2018.

Union Bankshares Corp, which manages about $323.32M US Long portfolio, decreased its stake in Bb&T Corp (NYSE:BBT) by 6,879 shares to 98,517 shares, valued at $5.13M in 2018Q1, according to the filing. It also reduced its holding in Lockheed Martin Corp (NYSE:LMT) by 2,262 shares in the quarter, leaving it with 8,716 shares, and cut its stake in Cvs Health Corp (NYSE:CVS).

Among 10 analysts covering Leggett & Platt (NYSE:LEG), 8 have Buy rating, 0 Sell and 2 Hold. Therefore 80% are positive. Leggett & Platt had 23 analyst reports since August 5, 2015 according to SRatingsIntel. Suntrust Robinson upgraded the shares of LEG in report on Friday, September 22 to “Buy” rating. Stifel Nicolaus upgraded Leggett & Platt, Incorporated (NYSE:LEG) on Thursday, May 31 to “Buy” rating. The rating was downgraded by Hilliard Lyons to “Underperform” on Friday, July 29. The stock has “Buy” rating by Hilliard Lyons on Friday, September 15. Raymond James upgraded Leggett & Platt, Incorporated (NYSE:LEG) on Monday, August 31 to “” rating. The rating was maintained by Piper Jaffray on Thursday, September 7 with “Buy”. Credit Suisse maintained Leggett & Platt, Incorporated (NYSE:LEG) rating on Friday, April 27. Credit Suisse has “Neutral” rating and $46 target. The company was upgraded on Wednesday, February 7 by Gabelli. Stifel Nicolaus maintained Leggett & Platt, Incorporated (NYSE:LEG) on Friday, July 28 with “Hold” rating. The company was maintained on Thursday, July 13 by Piper Jaffray.

Investors sentiment decreased to 1.07 in 2018 Q1. Its down 0.13, from 1.2 in 2017Q4. It dived, as 51 investors sold LEG shares while 125 reduced holdings. 50 funds opened positions while 139 raised stakes. 98.01 million shares or 3.85% more from 94.38 million shares in 2017Q4 were reported. Oppenheimer & Commerce Inc reported 35,186 shares. Koch Inc reported 13,279 shares stake. Johnson Fincl Gru accumulated 758 shares. Raymond James holds 0.11% or 1.34 million shares in its portfolio. Banque Pictet Cie Sa holds 0.01% of its portfolio in Leggett & Platt, Incorporated (NYSE:LEG) for 14,500 shares. Martin Currie holds 0.61% or 199,553 shares. Hightower Advsrs Lc reported 5,870 shares. Tci Wealth accumulated 203 shares. 4,511 are owned by Advisor Prns Llc. 45,580 are held by Intll Grp Inc. Silvercrest Asset Mgmt Group Limited Com holds 501,931 shares or 0.22% of its portfolio. Syntal Partners Ltd Limited Liability Company stated it has 8,000 shares. San Francisco Sentry Grp Inc (Ca) stated it has 0.04% of its portfolio in Leggett & Platt, Incorporated (NYSE:LEG). Raymond James Na accumulated 15,657 shares or 0.05% of the stock. Exxonmobil Mngmt Tx accumulated 20,245 shares.

Since February 7, 2018, it had 0 insider buys, and 5 selling transactions for $1.88 million activity. Douglas Scott S sold $470,129 worth of stock. GLASSMAN KARL G sold $474,100 worth of stock. On Friday, February 16 the insider DeSonier David M sold $452,750.

Leggett & Platt, Incorporated (NYSE:LEG) Institutional Positions Chart

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