ProShare Advisors LLC cut its holdings in shares of Leggett & Platt, Incorporated (NYSE:LEG) by 3.0% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,111,785 shares of the company’s stock after selling 34,881 shares during the period. ProShare Advisors LLC owned approximately 0.84% of Leggett & Platt, worth $58,402,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also bought and sold shares of the company. Van ECK Associates Corp lifted its holdings in Leggett & Platt, by 7.4% during the first quarter. Van ECK Associates Corp now owns 2,122 shares of the company’s stock worth $107,000 after acquiring an additional 147 shares in the last quarter. TrimTabs Asset Management LLC lifted its holdings in Leggett & Platt, by 89.0% during the first quarter. TrimTabs Asset Management LLC now owns 2,328 shares of the company’s stock worth $117,000 after acquiring an additional 1,096 shares in the last quarter. Oppenheimer Asset Management Inc. bought a new position in Leggett & Platt, during the first quarter worth about $126,000. Northwestern Mutual Wealth Management Co. lifted its holdings in Leggett & Platt, by 6.8% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 2,407 shares of the company’s stock worth $127,000 after acquiring an additional 153 shares in the last quarter. Finally, OLD Mutual Customised Solutions Proprietary Ltd. lifted its holdings in Leggett & Platt, by 123.8% during the first quarter. OLD Mutual Customised Solutions Proprietary Ltd. now owns 2,686 shares of the company’s stock worth $135,000 after acquiring an additional 1,486 shares in the last quarter. Hedge funds and other institutional investors own 69.00% of the company’s stock.

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Shares of Leggett & Platt, Incorporated (NYSE:LEG) traded up 0.75% during mid-day trading on Friday, hitting $45.85. The stock had a trading volume of 1,602,885 shares. Leggett & Platt, Incorporated has a 1-year low of $43.17 and a 1-year high of $54.97. The company has a market cap of $6.07 billion, a P/E ratio of 18.19 and a beta of 1.00. The firm’s 50 day moving average price is $46.55 and its 200 day moving average price is $50.42.

Leggett & Platt, (NYSE:LEG) last released its quarterly earnings data on Thursday, July 27th. The company reported $0.64 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.65 by ($0.01). The company had revenue of $989.30 million for the quarter, compared to the consensus estimate of $1 billion. Leggett & Platt, had a return on equity of 31.02% and a net margin of 9.17%. Leggett & Platt,’s revenue for the quarter was up 3.2% compared to the same quarter last year. During the same period last year, the company earned $0.66 EPS. Analysts predict that Leggett & Platt, Incorporated will post $2.45 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 13th. Stockholders of record on Friday, September 15th will be given a dividend of $0.36 per share. The ex-dividend date of this dividend is Thursday, September 14th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 3.14%. Leggett & Platt,’s dividend payout ratio (DPR) is presently 57.14%.

In other news, insider Matthew C. Flanigan sold 19,589 shares of the stock in a transaction dated Monday, July 31st. The shares were sold at an average price of $49.58, for a total transaction of $971,222.62. Following the transaction, the insider now owns 159,522 shares of the company’s stock, valued at approximately $7,909,100.76. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 1.78% of the stock is owned by corporate insiders.

LEG has been the topic of several recent analyst reports. Piper Jaffray Companies set a $59.00 target price on Leggett & Platt, and gave the stock a “buy” rating in a report on Monday, August 14th. BidaskClub upgraded Leggett & Platt, from a “hold” rating to a “buy” rating in a report on Saturday, June 17th. Gabelli initiated coverage on Leggett & Platt, in a report on Wednesday, June 21st. They set a “hold” rating and a $53.00 target price on the stock. Zacks Investment Research upgraded Leggett & Platt, from a “sell” rating to a “hold” rating in a report on Tuesday, July 11th. Finally, Stifel Nicolaus reiterated a “hold” rating on shares of Leggett & Platt, in a report on Thursday, September 7th. Two analysts have rated the stock with a sell rating, four have given a hold rating, two have given a buy rating and two have assigned a strong buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $55.63.

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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