Comerica Bank reduced its position in shares of Leggett & Platt, Incorporated (NYSE:LEG) by 3.8% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 72,964 shares of the company’s stock after selling 2,854 shares during the period. Comerica Bank owned approximately 0.06% of Leggett & Platt, worth $3,895,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in LEG. Legal & General Group Plc increased its position in Leggett & Platt, by 6.4% in the second quarter. Legal & General Group Plc now owns 711,925 shares of the company’s stock worth $37,396,000 after buying an additional 42,689 shares during the last quarter. Alps Advisors Inc. increased its position in Leggett & Platt, by 0.3% in the second quarter. Alps Advisors Inc. now owns 9,729 shares of the company’s stock worth $511,000 after buying an additional 25 shares during the last quarter. SG Americas Securities LLC increased its position in Leggett & Platt, by 42.6% in the second quarter. SG Americas Securities LLC now owns 82,637 shares of the company’s stock worth $4,341,000 after buying an additional 24,680 shares during the last quarter. NewSquare Capital LLC increased its position in Leggett & Platt, by 5.1% in the second quarter. NewSquare Capital LLC now owns 13,049 shares of the company’s stock worth $685,000 after buying an additional 629 shares during the last quarter. Finally, State of Wisconsin Investment Board increased its position in Leggett & Platt, by 33.1% in the second quarter. State of Wisconsin Investment Board now owns 121,673 shares of the company’s stock worth $6,391,000 after buying an additional 30,250 shares during the last quarter. Institutional investors and hedge funds own 69.01% of the company’s stock.

Shares of Leggett & Platt, Incorporated (NYSE LEG) opened at 45.27 on Wednesday. The company has a 50 day moving average price of $49.52 and a 200-day moving average price of $50.74. Leggett & Platt, Incorporated has a 12 month low of $44.02 and a 12 month high of $54.97. The firm has a market capitalization of $5.99 billion, a PE ratio of 17.96 and a beta of 0.98.

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

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 13th. Shareholders of record on Friday, September 15th will be given a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a yield of 3.18%. The ex-dividend date is Thursday, September 14th. Leggett & Platt,’s dividend payout ratio (DPR) is 57.14%.

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A number of research firms have recently commented on LEG. BidaskClub downgraded Leggett & Platt, from a “sell” rating to a “strong sell” rating in a report on Friday, August 25th. Piper Jaffray Companies set a $59.00 price objective on Leggett & Platt, and gave the company a “buy” rating in a report on Monday, August 14th. Zacks Investment Research downgraded Leggett & Platt, from a “hold” rating to a “sell” rating in a report on Tuesday, August 1st. Hilliard Lyons upgraded Leggett & Platt, from a “neutral” rating to a “long-term buy” rating and set a $66.00 price objective on the stock in a report on Monday, July 24th. Finally, Credit Suisse Group began coverage on Leggett & Platt, in a report on Thursday, June 22nd. They issued a “neutral” rating and a $56.00 price objective on the stock. Two investment analysts have rated the stock with a sell rating, four have given a hold rating, two have given a buy rating and two have issued a strong buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $56.88.

In other Leggett & Platt, news, insider Matthew C. Flanigan sold 19,589 shares of the business’s stock in a transaction dated Monday, July 31st. The stock was sold at an average price of $49.58, for a total value of $971,222.62. Following the completion of the transaction, the insider now 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 available through this link. 1.78% of the stock is currently owned by insiders.

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.

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

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