Union Bankshares Corp raised its stake in Leggett & Platt Inc. (NYSE:LEG) by 0.2% during the third quarter, according to its most recent disclosure with the SEC. The firm owned 55,157 shares of the company’s stock after buying an additional 119 shares during the period. Union Bankshares Corp’s holdings in Leggett & Platt were worth $2,514,000 as of its most recent filing with the SEC.

Several other large investors have also modified their holdings of LEG. Vanguard Group Inc. boosted its stake in shares of Leggett & Platt by 2.3% in the second quarter. Vanguard Group Inc. now owns 15,159,474 shares of the company’s stock valued at $774,801,000 after buying an additional 334,149 shares in the last quarter. BlackRock Fund Advisors boosted its stake in shares of Leggett & Platt by 4.5% in the second quarter. BlackRock Fund Advisors now owns 4,932,447 shares of the company’s stock valued at $252,097,000 after buying an additional 210,184 shares in the last quarter. Thomaspartners Inc. boosted its stake in shares of Leggett & Platt by 3.1% in the second quarter. Thomaspartners Inc. now owns 3,153,026 shares of the company’s stock valued at $161,151,000 after buying an additional 94,996 shares in the last quarter. US Bancorp DE boosted its stake in shares of Leggett & Platt by 3.1% in the second quarter. US Bancorp DE now owns 1,968,292 shares of the company’s stock valued at $100,599,000 after buying an additional 60,074 shares in the last quarter. Finally, Franklin Resources Inc. boosted its stake in shares of Leggett & Platt by 0.4% in the second quarter. Franklin Resources Inc. now owns 1,553,868 shares of the company’s stock valued at $79,418,000 after buying an additional 6,396 shares in the last quarter. Institutional investors own 67.19% of the company’s stock.

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

Shares of Leggett & Platt Inc. (NYSE:LEG) traded up 0.06% on Tuesday, reaching $48.57. 548,556 shares of the company were exchanged. Leggett & Platt Inc. has a 12 month low of $36.64 and a 12 month high of $54.63. The company has a market cap of $6.49 billion, a price-to-earnings ratio of 17.77 and a beta of 0.94. The company’s 50-day moving average price is $46.65 and its 200 day moving average price is $49.60.

Leggett & Platt (NYSE:LEG) last posted its 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 business’s revenue for the quarter was down 6.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.67 earnings per share. On average, equities research analysts expect that Leggett & Platt Inc. will post $2.54 EPS for the current year.

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

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Several equities research analysts have recently commented on LEG shares. Zacks Investment Research upgraded shares of Leggett & Platt from a “sell” rating to a “hold” rating in a research report on Thursday, August 4th. Hilliard Lyons cut shares of Leggett & Platt from a “buy” rating to a “neutral” rating in a report on Friday, October 28th. Citigroup Inc. cut shares of Leggett & Platt to a “market perform” rating in a report on Monday, August 1st. CJS Securities upgraded shares of 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, Raymond James Financial Inc. restated a “market perform” rating on shares of Leggett & Platt in a report on Monday, August 1st. Five research analysts have rated the stock with a hold rating, Leggett & Platt presently has an average rating of “Hold” and an average target price of $55.50.

In related 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 value of $157,440.00. Following the completion of the transaction, the insider now owns 276,697 shares in the company, valued at approximately $14,521,058.56. The sale was disclosed in a document filed with the SEC, which can be accessed 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 shares were sold at an average price of $49.50, for a total transaction of $49,500.00. Following the completion of the transaction, the senior vice president now 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. 3.92% of the stock is currently owned by insiders.

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.

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