NEXT Financial Group Inc held its stake in Leggett & Platt, Incorporated (NYSE:LEG) during the second quarter, Holdings Channel reports. The institutional investor owned 16,311 shares of the company’s stock at the end of the second quarter. NEXT Financial Group Inc’s holdings in Leggett & Platt, were worth $857,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Van ECK Associates Corp raised its stake in Leggett & Platt, by 7.4% in the first quarter. Van ECK Associates Corp now owns 2,122 shares of the company’s stock valued at $107,000 after buying an additional 147 shares during the last quarter. TrimTabs Asset Management LLC raised its stake in shares of Leggett & Platt, by 89.0% in the first quarter. TrimTabs Asset Management LLC now owns 2,328 shares of the company’s stock worth $117,000 after buying an additional 1,096 shares in the last quarter. Pinnacle Bank bought a new stake in shares of Leggett & Platt, during the first quarter worth $122,000. Oppenheimer Asset Management Inc. bought a new stake in shares of Leggett & Platt, during the first quarter worth $126,000. Finally, OLD Mutual Customised Solutions Proprietary Ltd. raised its stake in shares of Leggett & Platt, by 123.8% in the first quarter. OLD Mutual Customised Solutions Proprietary Ltd. now owns 2,686 shares of the company’s stock worth $135,000 after buying an additional 1,486 shares in the last quarter. 72.02% of the stock is owned by institutional investors.

Shares of Leggett & Platt, Incorporated (NYSE:LEG) traded up 1.10% during mid-day trading on Wednesday, hitting $53.12. 684,580 shares of the company were exchanged. The company’s 50-day moving average price is $52.15 and its 200-day moving average price is $50.44. The firm has a market capitalization of $7.03 billion, a P/E ratio of 19.34 and a beta of 1.01. Leggett & Platt, Incorporated has a 12-month low of $44.02 and a 12-month high of $54.97.

Leggett & Platt, (NYSE:LEG) last posted its quarterly earnings data on Thursday, April 27th. The company reported $0.62 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.59 by $0.03. Leggett & Platt, had a net margin of 10.14% and a return on equity of 31.91%. The company had revenue of $960.30 million during the quarter, compared to analysts’ expectations of $958.98 million. During the same period in the prior year, the company posted $0.63 earnings per share. Leggett & Platt,’s revenue for the quarter was up 2.3% compared to the same quarter last year. Equities research analysts predict that Leggett & Platt, Incorporated will post $2.63 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 14th. Stockholders of record on Thursday, June 15th will be given a dividend of $0.36 per share. The ex-dividend date is Tuesday, June 13th. This is a boost from Leggett & Platt,’s previous quarterly dividend of $0.34. This represents a $1.44 annualized dividend and a dividend yield of 2.71%. Leggett & Platt,’s dividend payout ratio is 52.36%.

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LEG has been the subject of a number of research reports. Zacks Investment Research lowered shares of Leggett & Platt, from a “buy” rating to a “hold” rating in a report on Tuesday, April 11th. Stifel Nicolaus raised their price target on shares of Leggett & Platt, from $48.00 to $52.00 and gave the company a “hold” rating in a report on Monday, April 3rd. Piper Jaffray Companies initiated coverage on shares of Leggett & Platt, in a report on Monday, June 5th. They issued an “overweight” rating and a $59.00 price target for the company. Credit Suisse Group initiated coverage on shares of Leggett & Platt, in a report on Thursday, June 22nd. They issued a “neutral” rating and a $56.00 price target for the company. Finally, BidaskClub lowered shares of Leggett & Platt, from a “buy” rating to a “hold” rating in a report on Friday, June 9th. Seven analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. Leggett & Platt, presently has an average rating of “Hold” and a consensus target price of $55.57.

In other news, insider Karl G. Glassman sold 13,277 shares of the stock in a transaction on Monday, May 8th. The shares were sold at an average price of $53.79, for a total transaction of $714,169.83. Following the completion of the sale, the insider now directly owns 337,455 shares in the company, valued at $18,151,704.45. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, SVP Scott S. Douglas sold 5,000 shares of the stock in a transaction on Wednesday, May 3rd. The stock was sold at an average price of $53.26, for a total transaction of $266,300.00. Following the sale, the senior vice president now owns 36,133 shares of the company’s stock, valued at $1,924,443.58. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 46,320 shares of company stock valued at $2,477,652. 1.78% of the stock is currently owned by corporate insiders.

About Leggett & Platt,

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.

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Institutional Ownership by Quarter for Leggett & Platt, (NYSE:LEG)

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