Great West Life Assurance Co. Can boosted its stake in Leggett & Platt, Incorporated (NYSE:LEG) by 6.3% during the second quarter, Holdings Channel reports. The institutional investor owned 137,894 shares of the company’s stock after buying an additional 8,194 shares during the period. Great West Life Assurance Co. Can’s holdings in Leggett & Platt, were worth $7,232,000 as of its most recent filing with the SEC.

Other hedge funds have also recently modified their holdings of the company. Teachers Advisors LLC raised its stake in shares of Leggett & Platt, by 6.3% in the fourth quarter. Teachers Advisors LLC now owns 338,172 shares of the company’s stock valued at $16,530,000 after buying an additional 19,947 shares in the last quarter. Macquarie Group Ltd. raised its stake in shares of Leggett & Platt, by 97.4% in the fourth quarter. Macquarie Group Ltd. now owns 7,500 shares of the company’s stock valued at $367,000 after buying an additional 3,700 shares in the last quarter. Chevy Chase Trust Holdings Inc. raised its stake in shares of Leggett & Platt, by 3.2% in the first quarter. Chevy Chase Trust Holdings Inc. now owns 115,294 shares of the company’s stock valued at $5,801,000 after buying an additional 3,590 shares in the last quarter. Gulf International Bank UK Ltd raised its stake in shares of Leggett & Platt, by 0.9% in the first quarter. Gulf International Bank UK Ltd now owns 43,585 shares of the company’s stock valued at $2,193,000 after buying an additional 400 shares in the last quarter. Finally, Bank of Montreal Can raised its stake in shares of Leggett & Platt, by 15.3% in the first quarter. Bank of Montreal Can now owns 453,370 shares of the company’s stock valued at $22,815,000 after buying an additional 60,212 shares in the last quarter. 72.10% of the stock is owned by institutional investors and hedge funds.

Shares of Leggett & Platt, Incorporated (LEG) opened at 46.97 on Friday. Leggett & Platt, Incorporated has a 52 week low of $44.02 and a 52 week high of $54.97. The stock has a market cap of $6.21 billion, a price-to-earnings ratio of 18.64 and a beta of 0.98. The firm has a 50-day moving average price of $51.18 and a 200 day moving average price of $50.86.

Leggett & Platt, (NYSE:LEG) last released its quarterly earnings results on Thursday, July 27th. The company reported $0.64 earnings per share for the quarter, missing the consensus estimate of $0.65 by $0.01. The firm had revenue of $989.30 million for 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 business’s quarterly revenue was up 3.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.66 EPS. On average, analysts forecast that Leggett & Platt, Incorporated will post $2.60 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Friday, October 13th. Stockholders of record on Friday, September 15th will be issued a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a dividend yield of 3.07%. The ex-dividend date of this dividend is Thursday, September 14th. Leggett & Platt,’s dividend payout ratio (DPR) is 57.14%.

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LEG has been the subject of several research reports. Zacks Investment Research lowered Leggett & Platt, from a “hold” rating to a “sell” rating in a research note on Wednesday, April 19th. Piper Jaffray Companies initiated coverage on Leggett & Platt, in a research note on Monday, June 5th. They issued an “overweight” rating and a $59.00 target price for the company. BidaskClub lowered Leggett & Platt, from a “buy” rating to a “hold” rating in a research note on Friday, June 9th. Gabelli initiated coverage on Leggett & Platt, in a research note on Wednesday, June 21st. They issued a “hold” rating and a $53.00 target price for the company. Finally, Credit Suisse Group initiated coverage on Leggett & Platt, in a research note on Thursday, June 22nd. They issued a “neutral” rating and a $56.00 target price for the company. Two analysts have rated the stock with a sell rating, four have issued a hold rating, two have assigned a buy rating and two have assigned a strong buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $56.88.

In other news, insider Matthew C. Flanigan sold 19,589 shares of Leggett & Platt, stock in a transaction that occurred on 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 in the company, valued at approximately $7,909,100.76. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 1.78% of the stock is currently owned by insiders.

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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