BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its position in Leggett & Platt, Inc. (NYSE:LEG) by 12.6% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 53,510 shares of the company’s stock after purchasing an additional 5,984 shares during the quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings in Leggett & Platt were worth $2,554,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Royce & Associates LP raised its stake in Leggett & Platt by 19.0% during the third quarter. Royce & Associates LP now owns 91,000 shares of the company’s stock valued at $4,343,000 after buying an additional 14,500 shares during the last quarter. Engineers Gate Manager LP purchased a new position in Leggett & Platt during the third quarter valued at $217,000. Financial Counselors Inc. raised its stake in Leggett & Platt by 1.4% during the third quarter. Financial Counselors Inc. now owns 125,861 shares of the company’s stock valued at $6,007,000 after buying an additional 1,786 shares during the last quarter. BB&T Investment Services Inc. raised its stake in Leggett & Platt by 77.0% during the third quarter. BB&T Investment Services Inc. now owns 9,598 shares of the company’s stock valued at $454,000 after buying an additional 4,176 shares during the last quarter. Finally, Stifel Financial Corp raised its stake in Leggett & Platt by 1.7% during the third quarter. Stifel Financial Corp now owns 88,597 shares of the company’s stock valued at $4,234,000 after buying an additional 1,490 shares during the last quarter. Institutional investors own 68.67% of the company’s stock.

A number of research analysts have issued reports on LEG shares. SunTrust Banks reiterated a “buy” rating and set a $53.00 price objective on shares of Leggett & Platt in a research note on Friday, October 27th. Zacks Investment Research upgraded Leggett & Platt from a “sell” rating to a “hold” rating in a research note on Tuesday, November 7th. Piper Jaffray Companies cut Leggett & Platt from an “overweight” rating to a “neutral” rating and set a $46.00 price objective for the company. in a research note on Monday, October 30th. Stifel Nicolaus reiterated a “hold” rating on shares of Leggett & Platt in a research note on Thursday, September 7th. Finally, BidaskClub cut Leggett & Platt from a “sell” rating to a “strong sell” rating in a research note on Friday, August 25th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, two have issued a buy rating and two have assigned a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $54.29.

In other Leggett & Platt news, SVP Scott S. Douglas sold 3,000 shares of Leggett & Platt stock in a transaction on Monday, November 20th. The stock was sold at an average price of $46.45, for a total value of $139,350.00. Following the completion of the sale, the senior vice president now owns 35,289 shares of the company’s stock, valued at approximately $1,639,174.05. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 1.78% of the stock is currently owned by company insiders.

Shares of Leggett & Platt, Inc. (NYSE:LEG) opened at $46.78 on Friday. The company has a market capitalization of $6,062.28, a price-to-earnings ratio of 19.16, a price-to-earnings-growth ratio of 1.92 and a beta of 1.03. Leggett & Platt, Inc. has a fifty-two week low of $43.17 and a fifty-two week high of $54.97. The company has a quick ratio of 1.11, a current ratio of 1.74 and a debt-to-equity ratio of 0.89.

Leggett & Platt (NYSE:LEG) last posted its earnings results on Thursday, October 26th. The company reported $0.61 EPS for the quarter, topping the Zacks’ consensus estimate of $0.60 by $0.01. The business had revenue of $1.01 billion during the quarter, compared to analyst estimates of $1.01 billion. Leggett & Platt had a return on equity of 29.60% and a net margin of 8.75%. The company’s quarterly revenue was up 6.4% compared to the same quarter last year. During the same quarter last year, the company earned $0.67 EPS. sell-side analysts expect that Leggett & Platt, Inc. will post 2.48 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 12th. Shareholders of record on Friday, December 15th will be issued a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a dividend yield of 3.08%. The ex-dividend date of this dividend is Thursday, December 14th. Leggett & Platt’s payout ratio is 58.78%.

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About Leggett & Platt

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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