Greenwood Gearhart Inc. held its stake in Leggett & Platt, Incorporated (NYSE:LEG) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 12,000 shares of the company’s stock at the end of the second quarter. Greenwood Gearhart Inc.’s holdings in Leggett & Platt, were worth $630,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Van ECK Associates Corp lifted its position in shares of Leggett & Platt, by 7.4% during the 1st quarter. Van ECK Associates Corp now owns 2,122 shares of the company’s stock valued at $107,000 after buying an additional 147 shares in the last quarter. Oppenheimer Asset Management Inc. purchased a new position in shares of Leggett & Platt, during the 1st quarter valued at approximately $126,000. Northwestern Mutual Wealth Management Co. lifted its position in shares of Leggett & Platt, by 6.8% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 2,407 shares of the company’s stock valued at $127,000 after buying an additional 153 shares in the last quarter. OLD Mutual Customised Solutions Proprietary Ltd. lifted its position in shares of Leggett & Platt, by 123.8% during the 1st quarter. OLD Mutual Customised Solutions Proprietary Ltd. now owns 2,686 shares of the company’s stock valued at $135,000 after buying an additional 1,486 shares in the last quarter. Finally, Exane Derivatives lifted its position in shares of Leggett & Platt, by 132,500.0% during the 2nd quarter. Exane Derivatives now owns 2,652 shares of the company’s stock valued at $139,000 after buying an additional 2,650 shares in the last quarter. Hedge funds and other institutional investors own 68.86% of the company’s stock.

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

Leggett & Platt, (NYSE:LEG) last released its earnings results on Thursday, July 27th. The company reported $0.64 earnings per share for the quarter, missing the Thomson Reuters’ 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 for the quarter, compared to analysts’ expectations of $1 billion. During the same quarter last year, the company posted $0.66 earnings per share. The business’s quarterly revenue was up 3.2% compared to the same quarter last year.

The company also recently declared a quarterly dividend, which will be paid on Friday, October 13th. Shareholders of record on Friday, September 15th will be paid a dividend of $0.36 per share. The ex-dividend date of this dividend is Thursday, September 14th. This represents a $1.44 annualized dividend and a yield of 3.01%. Leggett & Platt,’s dividend payout ratio is presently 57.14%.

LEG has been the topic of a number of research reports. BidaskClub lowered Leggett & Platt, from a “sell” rating to a “strong sell” rating in a report on Friday, August 25th. 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. Piper Jaffray Companies restated a “buy” rating and issued a $49.00 price objective on shares of Leggett & Platt, in a report on Friday, September 8th. Stifel Nicolaus restated a “hold” rating on shares of Leggett & Platt, in a report on Thursday, September 7th. Finally, Credit Suisse Group initiated 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 assigned a hold rating, three have given a buy rating and two have assigned a strong buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $54.75.

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.

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

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