Morgan Dempsey Capital Management LLC boosted its position in Leggett & Platt, Incorporated (NYSE:LEG) by 5.3% during the second quarter, Holdings Channel reports. The firm owned 76,335 shares of the company’s stock after buying an additional 3,809 shares during the period. Morgan Dempsey Capital Management LLC’s holdings in Leggett & Platt, were worth $4,009,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of LEG. Van ECK Associates Corp increased its position in Leggett & Platt, by 7.4% in the first quarter. Van ECK Associates Corp now owns 2,122 shares of the company’s stock worth $107,000 after buying an additional 147 shares during the period. TrimTabs Asset Management LLC increased its position 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 valued at $117,000 after buying an additional 1,096 shares during the last quarter. Pinnacle Bank bought a new position in shares of Leggett & Platt, during the first quarter valued at $122,000. Oppenheimer Asset Management Inc. bought a new position in shares of Leggett & Platt, during the first quarter valued at $126,000. Finally, OLD Mutual Customised Solutions Proprietary Ltd. increased its position 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 valued at $135,000 after buying an additional 1,486 shares during the last quarter. Institutional investors and hedge funds own 72.10% of the company’s stock.

Leggett & Platt, Incorporated (NYSE:LEG) opened at 47.89 on Wednesday. Leggett & Platt, Incorporated has a one year low of $44.02 and a one year high of $54.97. The stock’s 50 day moving average price is $51.94 and its 200 day moving average price is $50.86. The company has a market capitalization of $6.34 billion, a P/E ratio of 19.00 and a beta of 0.98.

Leggett & Platt, (NYSE:LEG) last released its quarterly earnings results on Thursday, July 27th. The company reported $0.64 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.65 by $0.01. The company had revenue of $989.30 million during the quarter, compared to the consensus estimate of $1 billion. Leggett & Platt, had a return on equity of 31.02% and a net margin of 9.17%. The company’s revenue was up 3.2% on a year-over-year basis. During the same period in the previous year, the firm posted $0.66 earnings per share. Equities analysts anticipate that Leggett & Platt, Incorporated will post $2.60 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Friday, October 13th. Stockholders of record on Friday, September 15th will be given a $0.36 dividend. This represents a $1.44 annualized dividend and a dividend yield of 3.01%. The ex-dividend date is Thursday, September 14th. Leggett & Platt,’s payout ratio is 57.14%.

ILLEGAL ACTIVITY WARNING: This report was first reported by Daily Political and is the sole property of of Daily Political. If you are accessing this report on another site, it was stolen and reposted in violation of international copyright & trademark law. The original version of this report can be read at https://www.dailypolitical.com/2017/08/09/morgan-dempsey-capital-management-llc-raises-stake-in-leggett-platt-incorporated-leg.html.

Several brokerages have recently weighed in on LEG. Zacks Investment Research downgraded Leggett & Platt, from a “hold” rating to a “sell” rating in a report on Tuesday, July 4th. Gabelli began coverage on Leggett & Platt, in a report on Wednesday, June 21st. They set a “hold” rating and a $53.00 price target for the company. Hilliard Lyons upgraded Leggett & Platt, from a “neutral” rating to a “long-term buy” rating and set a $66.00 price target for the company in a report on Monday, July 24th. BidaskClub downgraded Leggett & Platt, from a “buy” rating to a “hold” rating in a report on Monday, July 31st. Finally, Piper Jaffray Companies restated a “buy” rating and set a $59.00 price target on shares of Leggett & Platt, in a report on Friday, July 14th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating, two have given a buy rating and two have given a strong buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $56.88.

In other news, insider Matthew C. Flanigan sold 19,589 shares of the business’s stock in a transaction on Monday, July 31st. The stock was sold at an average price of $49.58, for a total value of $971,222.62. Following the completion of the transaction, the insider now directly owns 159,522 shares of the company’s stock, valued at approximately $7,909,100.76. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders own 1.78% of the company’s stock.

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.

Want to see what other hedge funds are holding LEG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Leggett & Platt, Incorporated (NYSE:LEG).

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

Receive News & Ratings for Leggett & Platt Incorporated Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Leggett & Platt Incorporated and related companies with MarketBeat.com's FREE daily email newsletter.