Janney Montgomery Scott LLC lowered its stake in shares of Leggett & Platt, Incorporated (NYSE:LEG) by 43.9% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 10,658 shares of the company’s stock after selling 8,352 shares during the period. Janney Montgomery Scott LLC’s holdings in Leggett & Platt, were worth $536,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in LEG. Duncker Streett & Co. Inc. boosted its position in Leggett & Platt, by 10.9% in the first quarter. Duncker Streett & Co. Inc. now owns 2,773 shares of the company’s stock valued at $140,000 after buying an additional 273 shares during the last quarter. First Quadrant L P CA boosted its position in Leggett & Platt, by 18.2% in the first quarter. First Quadrant L P CA now owns 175,086 shares of the company’s stock valued at $8,810,000 after buying an additional 26,985 shares during the last quarter. Glen Harbor Capital Management LLC boosted its stake in shares of Leggett & Platt, by 13.9% in the first quarter. Glen Harbor Capital Management LLC now owns 8,272 shares of the company’s stock worth $416,000 after buying an additional 1,012 shares in the last quarter. B & T Capital Management DBA Alpha Capital Management boosted its stake in shares of Leggett & Platt, by 4.2% in the first quarter. B & T Capital Management DBA Alpha Capital Management now owns 43,647 shares of the company’s stock worth $2,196,000 after buying an additional 1,750 shares in the last quarter. Finally, Sigma Planning Corp acquired a new stake in shares of Leggett & Platt, during the first quarter worth approximately $207,000. 72.74% of the stock is owned by hedge funds and other institutional investors.

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

Leggett & Platt, Incorporated (NYSE LEG) traded up 0.84% during trading on Friday, hitting $52.74. 1,324,575 shares of the company’s stock were exchanged. The company’s 50-day moving average price is $52.30 and its 200 day moving average price is $50.18. The firm has a market cap of $6.98 billion, a price-to-earnings ratio of 19.20 and a beta of 1.00. Leggett & Platt, Incorporated has a 12-month low of $44.02 and a 12-month high of $54.97.

Leggett & Platt, (NYSE:LEG) last posted its quarterly earnings data on Thursday, April 27th. The company reported $0.62 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.59 by $0.03. The business had revenue of $960.30 million during the quarter, compared to the consensus estimate of $958.98 million. Leggett & Platt, had a return on equity of 31.91% and a net margin of 10.14%. The company’s revenue was up 2.3% compared to the same quarter last year. During the same period in the prior year, the company earned $0.63 earnings per share. Equities analysts forecast that Leggett & Platt, Incorporated will post $2.63 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 14th. Stockholders of record on Thursday, June 15th will be issued a $0.36 dividend. This is an increase from Leggett & Platt,’s previous quarterly dividend of $0.34. This represents a $1.44 annualized dividend and a dividend yield of 2.73%. The ex-dividend date of this dividend is Tuesday, June 13th. Leggett & Platt,’s dividend payout ratio is presently 52.36%.

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A number of analysts have commented on LEG shares. Stifel Nicolaus upped their target price on shares of Leggett & Platt, from $48.00 to $52.00 and gave the company a “hold” rating in a report on Monday, April 3rd. Zacks Investment Research cut shares of Leggett & Platt, from a “buy” rating to a “hold” rating in a report on Tuesday, April 11th. Piper Jaffray Companies started coverage on shares of Leggett & Platt, in a report on Monday, June 5th. They set an “overweight” rating and a $59.00 target price for the company. Finally, BidaskClub cut shares of Leggett & Platt, from a “buy” rating to a “hold” rating in a report on Friday, June 9th. Six investment analysts have rated the stock with a hold rating, one has given a buy rating and one has given a strong buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $56.00.

In other news, insider Karl G. Glassman sold 13,277 shares of the stock in a transaction that occurred on Monday, May 8th. The stock was sold at an average price of $53.79, for a total value of $714,169.83. Following the completion of the sale, the insider now directly owns 337,455 shares of the company’s stock, valued at $18,151,704.45. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Scott S. Douglas sold 5,000 shares of the stock in a transaction that occurred on Wednesday, May 3rd. The shares were sold at an average price of $53.26, for a total value of $266,300.00. Following the completion of the sale, the senior vice president now directly owns 36,133 shares of the company’s stock, valued at $1,924,443.58. The disclosure for this sale can be found here. Insiders sold 46,320 shares of company stock valued at $2,477,652 over the last three months. Corporate insiders own 1.78% of the company’s stock.

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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