Commonwealth of Pennsylvania Public School Empls Retrmt SYS acquired a new stake in Leggett & Platt, Inc. (NYSE:LEG) during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm acquired 13,742 shares of the company’s stock, valued at approximately $613,000.

Several other institutional investors have also added to or reduced their stakes in the business. Bedel Financial Consulting Inc. purchased a new stake in shares of Leggett & Platt in the first quarter valued at about $132,000. Federated Investors Inc. PA purchased a new stake in shares of Leggett & Platt in the first quarter valued at about $138,000. Hilltop Holdings Inc. purchased a new stake in shares of Leggett & Platt in the first quarter valued at about $200,000. Osborn Williams & Donohoe LLC purchased a new stake in shares of Leggett & Platt in the second quarter valued at about $201,000. Finally, Confluence Wealth Management LLC purchased a new stake in shares of Leggett & Platt in the second quarter valued at about $213,000. 78.76% of the stock is currently owned by hedge funds and other institutional investors.

In related news, insider Matthew C. Flanigan sold 29,248 shares of the firm’s stock in a transaction dated Monday, July 30th. The shares were sold at an average price of $44.09, for a total transaction of $1,289,544.32. Following the completion of the sale, the insider now owns 115,039 shares in the company, valued at $5,072,069.51. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Matthew C. Flanigan sold 15,672 shares of the firm’s stock in a transaction dated Thursday, August 23rd. The stock was sold at an average price of $46.00, for a total transaction of $720,912.00. Following the sale, the insider now owns 116,341 shares of the company’s stock, valued at approximately $5,351,686. The disclosure for this sale can be found here. Company insiders own 1.52% of the company’s stock.

Shares of LEG stock opened at $45.53 on Friday. The stock has a market capitalization of $5.93 billion, a PE ratio of 18.51, a PEG ratio of 1.63 and a beta of 0.88. The company has a debt-to-equity ratio of 1.15, a current ratio of 1.90 and a quick ratio of 1.23. Leggett & Platt, Inc. has a one year low of $39.57 and a one year high of $51.99.

Leggett & Platt (NYSE:LEG) last posted its quarterly earnings data on Thursday, July 26th. The company reported $0.63 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.61 by $0.02. Leggett & Platt had a net margin of 6.83% and a return on equity of 27.73%. The business had revenue of $1.10 billion during the quarter, compared to the consensus estimate of $1.09 billion. During the same quarter last year, the company posted $0.64 earnings per share. The firm’s quarterly revenue was up 11.4% compared to the same quarter last year. equities research analysts anticipate that Leggett & Platt, Inc. will post 2.62 earnings per share for the current fiscal year.

Several analysts have recently commented on LEG shares. Stifel Nicolaus upgraded shares of Leggett & Platt from a “hold” rating to a “buy” rating and increased their target price for the company from $48.00 to $50.00 in a report on Thursday, May 31st. Zacks Investment Research upgraded shares of Leggett & Platt from a “sell” rating to a “hold” rating in a report on Friday, May 18th. Finally, ValuEngine upgraded shares of Leggett & Platt from a “sell” rating to a “hold” rating in a report on Wednesday, August 22nd. Four investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $48.20.

Leggett & Platt Company Profile

Leggett & Platt, Incorporated designs and produces various engineered components and products worldwide. It operates through four segments: Residential Products, Furniture Products, Industrial Products, and Specialized Products. The Residential Products segment offers innersprings, wire forms, and machines to shape wire into various types of springs; industrial sewing/finishing machines, conveyor lines, mattress packaging, and glue-drying equipment, as well as quilting machines; and structural fabrics, carpet cushions, and geo components.

Read More: Hedge Funds

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

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