Wedbush Securities Inc. lowered its position in Leggett & Platt, Incorporated (NYSE:LEG) by 0.5% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 53,047 shares of the company’s stock after selling 240 shares during the period. Wedbush Securities Inc.’s holdings in Leggett & Platt, were worth $2,787,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in LEG. Van ECK Associates Corp raised 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 raised its position in 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 during the period. Pinnacle Bank bought a new position in Leggett & Platt, during the first quarter worth $122,000. Oppenheimer Asset Management Inc. bought a new position in Leggett & Platt, during the first quarter worth $126,000. Finally, OLD Mutual Customised Solutions Proprietary Ltd. raised its position in 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 during the period. 72.10% of the stock is currently owned by hedge funds and other institutional investors.

Leggett & Platt, Incorporated (NYSE:LEG) opened at 46.97 on Friday. The firm has a market cap of $6.21 billion, a price-to-earnings ratio of 18.64 and a beta of 0.98. Leggett & Platt, Incorporated has a 52-week low of $44.02 and a 52-week high of $54.97. The company has a 50 day moving average price of $51.18 and a 200-day moving average price of $50.86.

Leggett & Platt, (NYSE:LEG) last announced its quarterly earnings results 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 during the quarter, compared to the consensus estimate of $1 billion. During the same quarter last year, the company earned $0.66 earnings per share. The firm’s revenue was up 3.2% compared to the same quarter last year. Equities research analysts anticipate that Leggett & Platt, Incorporated will post $2.60 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 13th. Shareholders of record on Friday, September 15th will be issued a $0.36 dividend. The ex-dividend date is Thursday, September 14th. This represents a $1.44 annualized dividend and a dividend yield of 3.07%. Leggett & Platt,’s dividend payout ratio (DPR) is currently 57.14%.

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

In other Leggett & Platt, news, insider Matthew C. Flanigan sold 19,589 shares of the stock in a transaction dated 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 sale, the insider now directly owns 159,522 shares in the company, valued at $7,909,100.76. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.78% of the stock is 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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