Stock Yards Bank & Trust Co. decreased its position in Leggett & Platt Inc. (NYSE:LEG) by 1.8% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 46,650 shares of the company’s stock after selling 850 shares during the period. Stock Yards Bank & Trust Co.’s holdings in Leggett & Platt were worth $2,126,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in LEG. TNB Financial acquired a new position in Leggett & Platt during the second quarter worth approximately $204,000. Cipher Capital LP purchased a new stake in shares of Leggett & Platt during the second quarter worth about $216,000. Thrivent Financial for Lutherans purchased a new stake in shares of Leggett & Platt during the second quarter worth about $219,000. Paloma Partners Management Co purchased a new stake in shares of Leggett & Platt during the second quarter worth about $222,000. Finally, ING Groep NV purchased a new stake in shares of Leggett & Platt during the second quarter worth about $244,000. 67.19% of the stock is currently owned by institutional investors and hedge funds.

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

Leggett & Platt Inc. (NYSE:LEG) traded up 0.06% during midday trading on Tuesday, hitting $48.57. 548,556 shares of the stock were exchanged. The company has a market capitalization of $6.49 billion, a P/E ratio of 17.77 and a beta of 0.94. The company’s 50 day moving average is $46.65 and its 200 day moving average is $49.60. Leggett & Platt Inc. has a 1-year low of $36.64 and a 1-year high of $54.63.

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

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

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LEG has been the topic of a number of analyst reports. Zacks Investment Research downgraded shares of Leggett & Platt from a “hold” rating to a “sell” rating in a research note on Tuesday, October 4th. Hilliard Lyons downgraded shares of Leggett & Platt from a “buy” rating to a “neutral” rating in a research note on Friday, October 28th. CJS Securities upgraded shares of Leggett & Platt to a “market perform” rating and set a $55.00 price objective on the stock in a research note on Tuesday, November 1st. Raymond James Financial Inc. reiterated a “market perform” rating on shares of Leggett & Platt in a research note on Monday, August 1st. Finally, Citigroup Inc. downgraded shares of Leggett & Platt to a “market perform” rating in a research note on Monday, August 1st. Five investment analysts have rated the stock with a hold rating, The company has an average rating of “Hold” and a consensus price target of $55.50.

In related news, SVP Scott S. Douglas sold 1,000 shares of the business’s stock in a transaction dated Tuesday, November 15th. The shares were sold at an average price of $49.50, for a total value of $49,500.00. Following the transaction, the senior vice president now directly owns 38,089 shares of the company’s stock, valued at approximately $1,885,405.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Dennis S. Park sold 3,000 shares of the business’s stock in a transaction dated Thursday, September 1st. The stock was sold at an average price of $52.48, for a total transaction of $157,440.00. Following the completion of the transaction, the insider now directly owns 276,697 shares in the company, valued at $14,521,058.56. The disclosure for this sale can be found here. 3.92% of the stock is currently owned by corporate insiders.

Leggett & Platt Company Profile

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

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