Leggett & Platt, Incorporated (NYSE:LEG) Shares Sold by ING Groep NV

ING Groep NV cut its stake in shares of Leggett & Platt, Incorporated (NYSE:LEG) by 0.6% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 7,296 shares of the company’s stock after selling 45 shares during the period. ING Groep NV’s holdings in Leggett & Platt, were worth $383,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the stock. BlackRock Inc. increased its stake in 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 in the last quarter. Vanguard Group Inc. increased its stake in 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 in the last quarter. Schroder Investment Management Group increased its stake in 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 in the last quarter. Thomaspartners Inc. increased its stake in 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 in the last quarter. Finally, KAMES CAPITAL plc increased its stake in 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 in the last quarter. 72.06% of the stock is currently owned by hedge funds and other institutional investors.

Leggett & Platt, Incorporated (LEG) traded down 0.24% during trading on Friday, reaching $46.42. The company had a trading volume of 709,191 shares. Leggett & Platt, Incorporated has a one year low of $44.02 and a one year high of $54.97. The company has a 50-day moving average price of $50.39 and a 200 day moving average price of $50.83. The company has a market capitalization of $6.14 billion, a price-to-earnings ratio of 18.42 and a beta of 0.98.

Leggett & Platt, (NYSE:LEG) last posted its quarterly earnings data on Thursday, July 27th. The company reported $0.64 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.65 by $0.01. The firm had revenue of $989.30 million during the quarter, compared to analysts’ expectations of $1 billion. Leggett & Platt, had a net margin of 9.17% and a return on equity of 31.02%. The company’s quarterly revenue was up 3.2% on a year-over-year basis. During the same quarter last year, the business posted $0.66 EPS. Analysts expect that Leggett & Platt, Incorporated will post $2.60 earnings per share for the current 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 paid a $0.36 dividend. The ex-dividend date is Thursday, September 14th. This represents a $1.44 annualized dividend and a yield of 3.10%. Leggett & Platt,’s dividend payout ratio (DPR) is 57.14%.

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LEG has been the topic of several recent research reports. Zacks Investment Research raised Leggett & Platt, from a “sell” rating to a “hold” rating and set a $60.00 price target on the stock in a research note on Tuesday, May 2nd. Hilliard Lyons raised Leggett & Platt, from a “neutral” rating to a “long-term buy” rating and set a $66.00 target price on the stock in a research report on Monday, July 24th. Piper Jaffray Companies initiated coverage on Leggett & Platt, in a research report on Monday, June 5th. They issued an “overweight” rating and a $59.00 target price on the stock. Credit Suisse Group initiated coverage on Leggett & Platt, in a research report on Thursday, June 22nd. They issued a “neutral” rating and a $56.00 target price on the stock. Finally, Gabelli initiated coverage on Leggett & Platt, in a research report on Wednesday, June 21st. They issued a “hold” rating and a $53.00 target price on the stock. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating, two have given a buy rating and two have given a strong buy rating to the company’s stock. Leggett & Platt, currently 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 stock in a transaction dated Monday, July 31st. The shares were sold at an average price of $49.58, for a total value of $971,222.62. Following the completion of the sale, the insider now owns 159,522 shares in the company, valued at approximately $7,909,100.76. The transaction was disclosed in a document filed with the SEC, which is available at this link. Company 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.

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

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