Investment Management of Virginia LLC bought a new stake in Leggett & Platt, Incorporated (NYSE:LEG) during the second quarter, according to its most recent disclosure with the SEC. The institutional investor bought 3,925 shares of the company’s stock, valued at approximately $206,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of LEG. BlackRock Inc. boosted its position in shares of Leggett & Platt, by 1,572.6% in the first quarter. BlackRock Inc. now owns 11,942,965 shares of the company’s stock valued at $600,969,000 after buying an additional 11,228,920 shares during the period. Vanguard Group Inc. boosted its position in shares of Leggett & Platt, by 3.2% in the first quarter. Vanguard Group Inc. now owns 15,434,519 shares of the company’s stock valued at $776,664,000 after buying an additional 481,689 shares during the period. Schroder Investment Management Group boosted its position in shares of Leggett & Platt, by 79.8% in the first quarter. Schroder Investment Management Group now owns 1,060,299 shares of the company’s stock valued at $53,450,000 after buying an additional 470,611 shares during the period. Thomaspartners Inc. boosted its position in shares of Leggett & Platt, by 8.7% in the first quarter. Thomaspartners Inc. now owns 3,821,679 shares of the company’s stock valued at $192,307,000 after buying an additional 305,900 shares during the period. Finally, KAMES CAPITAL plc boosted its position in shares of Leggett & Platt, by 30.1% in the first quarter. KAMES CAPITAL plc now owns 1,168,704 shares of the company’s stock valued at $58,774,000 after buying an additional 270,673 shares during the period. 72.06% of the stock is owned by hedge funds and other institutional investors.

Leggett & Platt, Incorporated (NYSE:LEG) opened at 46.42 on Monday. The firm’s 50 day moving average price is $50.39 and its 200-day moving average price is $50.83. The company has a market capitalization of $6.14 billion, a PE ratio of 18.42 and a beta of 0.98. Leggett & Platt, Incorporated has a one year low of $44.02 and a one year high of $54.97.

Leggett & Platt, (NYSE:LEG) last issued its quarterly earnings data on Thursday, July 27th. The company reported $0.64 EPS for the quarter, missing analysts’ consensus estimates of $0.65 by $0.01. Leggett & Platt, had a net margin of 9.17% and a return on equity of 31.02%. The firm had revenue of $989.30 million during the quarter, compared to analyst estimates of $1 billion. During the same period in the prior year, the company earned $0.66 earnings per share. The business’s quarterly revenue was up 3.2% compared to the same quarter last year. Equities analysts forecast that Leggett & Platt, Incorporated will post $2.60 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 13th. Shareholders of record on Friday, September 15th will be issued a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a yield of 3.10%. The ex-dividend date of this dividend is Thursday, September 14th. Leggett & Platt,’s dividend payout ratio is 57.14%.

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Several research analysts recently commented on LEG shares. Hilliard Lyons raised Leggett & Platt, from a “neutral” rating to a “long-term buy” rating and set a $66.00 target price for the company in a research report on Monday, July 24th. Zacks Investment Research raised Leggett & Platt, from a “sell” rating to a “hold” rating and set a $60.00 target price for the company in a research report on Tuesday, May 2nd. Piper Jaffray Companies started coverage on Leggett & Platt, in a research report on Monday, June 5th. They issued an “overweight” rating and a $59.00 target price for the company. Credit Suisse Group started coverage on Leggett & Platt, in a research report on Thursday, June 22nd. They issued a “neutral” rating and a $56.00 target price for the company. Finally, Gabelli started coverage on Leggett & Platt, in a research report on Wednesday, June 21st. They issued a “hold” rating and a $53.00 target price for the company. Two analysts have rated the stock with a sell rating, four have given a hold rating, two have issued a buy rating and two have assigned a strong buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $56.88.

In other Leggett & Platt, news, insider Matthew C. Flanigan sold 19,589 shares of the company’s stock in a transaction on Monday, July 31st. The stock was sold at an average price of $49.58, for a total value of $971,222.62. Following the transaction, the insider now directly owns 159,522 shares of the company’s stock, valued at approximately $7,909,100.76. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 1.78% of the company’s stock.

Leggett & Platt, Company Profile

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

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