State of Wisconsin Investment Board lowered its position in shares of Leggett & Platt Inc. (NYSE:LEG) by 3.9% during the third quarter, according to its most recent filing with the SEC. The fund owned 84,872 shares of the company’s stock after selling 3,400 shares during the period. State of Wisconsin Investment Board owned about 0.06% of Leggett & Platt worth $3,868,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in LEG. LPL Financial LLC raised its position in shares of Leggett & Platt by 2.6% in the first quarter. LPL Financial LLC now owns 32,804 shares of the company’s stock worth $1,567,000 after buying an additional 820 shares during the period. Ladenburg Thalmann Financial Services Inc. raised its position in shares of Leggett & Platt by 31.2% in the first quarter. Ladenburg Thalmann Financial Services Inc. now owns 13,167 shares of the company’s stock worth $638,000 after buying an additional 3,133 shares during the period. First Republic Investment Management Inc. raised its position in shares of Leggett & Platt by 92.1% in the first quarter. First Republic Investment Management Inc. now owns 11,056 shares of the company’s stock worth $535,000 after buying an additional 5,302 shares during the period. BlueMountain Capital Management LLC raised its position in shares of Leggett & Platt by 54.0% in the first quarter. BlueMountain Capital Management LLC now owns 19,691 shares of the company’s stock worth $953,000 after buying an additional 6,907 shares during the period. Finally, NEXT Financial Group Inc raised its position in shares of Leggett & Platt by 9.8% in the second quarter. NEXT Financial Group Inc now owns 16,541 shares of the company’s stock worth $845,000 after buying an additional 1,480 shares during the period. 67.19% of the stock is currently owned by institutional investors.

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

Leggett & Platt Inc. (NYSE:LEG) traded down 2.00% during midday trading on Monday, reaching $48.54. The company’s stock had a trading volume of 772,924 shares. Leggett & Platt Inc. has a 52-week low of $36.64 and a 52-week high of $54.63. The stock has a market capitalization of $6.49 billion, a price-to-earnings ratio of 17.75 and a beta of 0.94. The firm has a 50-day moving average price of $46.57 and a 200 day moving average price of $49.60.

Leggett & Platt (NYSE:LEG) last announced its quarterly earnings results on Thursday, October 27th. The company reported $0.67 EPS for the quarter, topping analysts’ consensus estimates of $0.64 by $0.03. The firm earned $948.90 million during the quarter, compared to analysts’ expectations of $1.01 billion. Leggett & Platt had a net margin of 10.15% and a return on equity of 33.52%. The company’s revenue for the quarter was down 6.0% compared to the same quarter last year. During the same quarter last year, the company earned $0.67 earnings per share. Equities research analysts predict that Leggett & Platt Inc. will post $2.54 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 13th. Shareholders of record on Thursday, December 15th will be paid a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a yield of 2.80%. The ex-dividend date of this dividend is Tuesday, December 13th. Leggett & Platt’s dividend payout ratio is 49.64%.

TRADEMARK VIOLATION NOTICE: This story was first posted by The Cerbat Gem and is the propert of of The Cerbat Gem. If you are reading this story on another publication, it was stolen and republished in violation of US and international trademark and copyright legislation. The original version of this story can be accessed at https://www.thecerbatgem.com/2016/11/28/state-of-wisconsin-investment-board-sells-3400-shares-of-leggett-platt-inc-leg.html.

A number of equities analysts recently issued reports on the company. Zacks Investment Research raised Leggett & Platt from a “sell” rating to a “hold” rating in a report on Thursday, August 4th. Citigroup Inc. lowered Leggett & Platt to a “market perform” rating in a report on Monday, August 1st. Raymond James Financial Inc. reissued a “market perform” rating on shares of Leggett & Platt in a report on Monday, August 1st. CJS Securities raised Leggett & Platt to a “market perform” rating and set a $55.00 price objective for the company in a report on Tuesday, November 1st. Finally, Hilliard Lyons downgraded Leggett & Platt from a “buy” rating to a “neutral” rating in a research report on Friday, October 28th. Five equities research analysts have rated the stock with a hold rating, The stock presently has a consensus rating of “Hold” and an average target price of $55.50.

In other news, insider Dennis S. Park sold 3,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 1st. The shares were sold at an average price of $52.48, for a total transaction of $157,440.00. Following the completion of the sale, the insider now owns 276,697 shares of the company’s stock, valued at $14,521,058.56. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, SVP Scott S. Douglas sold 1,000 shares of the firm’s stock in a transaction that occurred on Tuesday, November 15th. The stock was sold at an average price of $49.50, for a total transaction of $49,500.00. Following the sale, the senior vice president now directly owns 38,089 shares of the company’s stock, valued at approximately $1,885,405.50. The disclosure for this sale can be found here. Company insiders own 3.92% of the company’s stock.

About Leggett & Platt

Leggett & Platt, Incorporated is a manufacturer of engineered components and products found in homes, offices, automobiles and commercial aircraft. The Company operates in four segments: Residential Furnishings, Commercial Products, Industrial Materials and Specialized Products. The Residential Furnishings segment manufactures steel coiled bedsprings.

5 Day Chart for NYSE:LEG

Receive News & Stock Ratings for Leggett & Platt Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Leggett & Platt Inc. and related stocks with our FREE daily email newsletter.