Raymond James & Associates increased its stake in Leggett & Platt, Inc. (NYSE:LEG) by 16.9% in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,562,298 shares of the company’s stock after acquiring an additional 225,307 shares during the period. Raymond James & Associates owned about 1.20% of Leggett & Platt worth $69,741,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in LEG. Federated Investors Inc. PA purchased a new stake in Leggett & Platt during the first quarter valued at about $138,000. Hilltop Holdings Inc. purchased a new stake in Leggett & Platt during the first quarter valued at about $200,000. Osborn Williams & Donohoe LLC purchased a new stake in Leggett & Platt during the second quarter valued at about $201,000. Confluence Wealth Management LLC purchased a new stake in Leggett & Platt during the second quarter valued at about $213,000. Finally, Signition LP purchased a new stake in Leggett & Platt during the second quarter valued at about $213,000. Institutional investors own 78.76% of the company’s stock.

In other news, insider Matthew C. Flanigan sold 29,248 shares of the stock in a transaction dated Monday, July 30th. The shares were sold at an average price of $44.09, for a total transaction of $1,289,544.32. Following the completion of the sale, the insider now directly owns 115,039 shares in the company, valued at $5,072,069.51. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Matthew C. Flanigan sold 15,672 shares of the stock in a transaction dated Thursday, August 23rd. The stock was sold at an average price of $46.00, for a total transaction of $720,912.00. Following the completion of the transaction, the insider now directly owns 116,341 shares of the company’s stock, valued at $5,351,686. The disclosure for this sale can be found here. Corporate insiders own 1.52% of the company’s stock.

LEG has been the subject of several analyst reports. Zacks Investment Research upgraded shares of Leggett & Platt from a “sell” rating to a “hold” rating in a research report on Friday, May 18th. Stifel Nicolaus upgraded shares of Leggett & Platt from a “hold” rating to a “buy” rating and upped their price target for the company from $48.00 to $50.00 in a research report on Thursday, May 31st. Finally, ValuEngine upgraded shares of Leggett & Platt from a “sell” rating to a “hold” rating in a report on Wednesday, August 22nd. Four analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $48.20.

Leggett & Platt stock opened at $45.71 on Friday. The company has a quick ratio of 1.23, a current ratio of 1.90 and a debt-to-equity ratio of 1.15. The stock has a market cap of $5.93 billion, a PE ratio of 18.58, a PEG ratio of 1.63 and a beta of 0.84. Leggett & Platt, Inc. has a 1-year low of $39.57 and a 1-year high of $51.99.

Leggett & Platt (NYSE:LEG) last posted its earnings results on Thursday, July 26th. The company reported $0.63 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.61 by $0.02. The company had revenue of $1.10 billion during the quarter, compared to analyst estimates of $1.09 billion. Leggett & Platt had a net margin of 6.83% and a return on equity of 27.73%. Leggett & Platt’s revenue for the quarter was up 11.4% on a year-over-year basis. During the same period in the prior year, the business posted $0.64 earnings per share. sell-side analysts predict that Leggett & Platt, Inc. will post 2.62 earnings per share for the current year.

Leggett & Platt Profile

Leggett & Platt, Incorporated designs and produces various engineered components and products worldwide. It operates through four segments: Residential Products, Furniture Products, Industrial Products, and Specialized Products. The Residential Products segment offers innersprings, wire forms, and machines to shape wire into various types of springs; industrial sewing/finishing machines, conveyor lines, mattress packaging, and glue-drying equipment, as well as quilting machines; and structural fabrics, carpet cushions, and geo components.

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

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