Palisade Asset Management LLC increased its stake in shares of Leggett & Platt, Incorporated (NYSE:LEG) by 47.5% during the second quarter, Holdings Channel reports. The institutional investor owned 61,200 shares of the company’s stock after buying an additional 19,700 shares during the period. Palisade Asset Management LLC’s holdings in Leggett & Platt, were worth $3,215,000 at the end of the most recent reporting period.

A number of other institutional investors also recently made changes to their positions in the stock. DnB Asset Management AS bought a new position in shares of Leggett & Platt, during the first quarter valued at approximately $532,000. Reilly Financial Advisors LLC raised its position in shares of Leggett & Platt, by 13.0% in the first quarter. Reilly Financial Advisors LLC now owns 22,135 shares of the company’s stock valued at $1,114,000 after buying an additional 2,545 shares in the last quarter. Pinnacle Bank bought a new position in shares of Leggett & Platt, during the first quarter valued at approximately $122,000. Berkshire Asset Management LLC PA raised its position in shares of Leggett & Platt, by 1.5% in the first quarter. Berkshire Asset Management LLC PA now owns 452,456 shares of the company’s stock valued at $22,768,000 after buying an additional 6,515 shares in the last quarter. Finally, TNB Financial bought a new position in shares of Leggett & Platt, during the first quarter valued at approximately $201,000. Institutional investors own 72.10% of the company’s stock.

Shares of Leggett & Platt, Incorporated (NYSE LEG) opened at 47.70 on Thursday. Leggett & Platt, Incorporated has a 12-month low of $44.02 and a 12-month high of $54.97. The firm has a market capitalization of $6.31 billion, a P/E ratio of 18.93 and a beta of 0.98. The stock has a 50 day moving average price of $51.51 and a 200 day moving average price of $50.89.

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

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 13th. Shareholders of record on Friday, September 15th will be issued a dividend of $0.36 per share. The ex-dividend date of this dividend is Thursday, September 14th. This represents a $1.44 annualized dividend and a yield of 3.02%. Leggett & Platt,’s dividend payout ratio is presently 57.14%.

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Several equities analysts have commented on the stock. Piper Jaffray Companies reiterated a “buy” rating and issued a $59.00 price target on shares of Leggett & Platt, in a research note on Friday, July 14th. Gabelli assumed coverage on shares of Leggett & Platt, in a research note on Wednesday, June 21st. They issued a “hold” rating and a $53.00 price target on the stock. BidaskClub upgraded shares of Leggett & Platt, from a “hold” rating to a “buy” rating in a research note on Saturday, June 17th. Zacks Investment Research upgraded shares of Leggett & Platt, from a “sell” rating to a “hold” rating and set a $60.00 price target on the stock in a research note on Tuesday, May 2nd. Finally, Credit Suisse Group assumed coverage on shares of Leggett & Platt, in a research note on Thursday, June 22nd. They issued a “neutral” rating and a $56.00 price target on the stock. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating, two have assigned a buy rating and two have given a strong buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $56.88.

In other Leggett & Platt, news, insider Matthew C. Flanigan sold 19,589 shares of Leggett & Platt, stock in a transaction that occurred on Monday, July 31st. The stock was sold at an average price of $49.58, for a total transaction of $971,222.62. Following the sale, the insider now directly owns 159,522 shares in the company, valued at approximately $7,909,100.76. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 1.78% of the stock is owned by insiders.

Leggett & Platt, Company 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.

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

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