Commerce Bank boosted its holdings in Leggett & Platt, Incorporated (NYSE:LEG) by 966.6% during the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 283,013 shares of the company’s stock after acquiring an additional 256,478 shares during the period. Commerce Bank owned 0.21% of Leggett & Platt, worth $13,508,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the stock. BlackRock Inc. lifted its holdings in Leggett & Platt, by 0.6% in the second quarter. BlackRock Inc. now owns 12,019,449 shares of the company’s stock valued at $631,381,000 after acquiring an additional 76,484 shares during the last quarter. Bank of New York Mellon Corp lifted its holdings in Leggett & Platt, by 78.4% in the third quarter. Bank of New York Mellon Corp now owns 2,549,592 shares of the company’s stock valued at $121,693,000 after acquiring an additional 1,120,320 shares during the last quarter. US Bancorp DE lifted its holdings in Leggett & Platt, by 2.3% in the second quarter. US Bancorp DE now owns 2,038,293 shares of the company’s stock valued at $107,072,000 after acquiring an additional 46,071 shares during the last quarter. Franklin Resources Inc. lifted its holdings in Leggett & Platt, by 0.9% in the second quarter. Franklin Resources Inc. now owns 1,584,782 shares of the company’s stock valued at $83,249,000 after acquiring an additional 13,837 shares during the last quarter. Finally, Villere ST Denis J & Co. LLC lifted its holdings in Leggett & Platt, by 0.8% in the third quarter. Villere ST Denis J & Co. LLC now owns 1,572,514 shares of the company’s stock valued at $75,056,000 after acquiring an additional 12,800 shares during the last quarter. Hedge funds and other institutional investors own 70.22% of the company’s stock.

LEG has been the topic of a number of recent analyst reports. 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. BidaskClub cut Leggett & Platt, from a “buy” rating to a “hold” rating in a report on Monday, July 31st. Zacks Investment Research cut Leggett & Platt, from a “hold” rating to a “sell” rating in a report on Tuesday, August 1st. Piper Jaffray Companies set a $59.00 price objective on Leggett & Platt, and gave the company a “buy” rating in a report on Monday, August 14th. Finally, Stifel Nicolaus restated a “hold” rating on shares of Leggett & Platt, in a research note on Thursday, September 7th. One investment analyst has rated the stock with a sell rating, five have given a hold rating, two have issued a buy rating and two have given a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $54.29.

Leggett & Platt, Incorporated (LEG) traded up $0.69 during trading hours on Thursday, reaching $46.07. The company’s stock had a trading volume of 153,350 shares, compared to its average volume of 972,470. 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, Incorporated has a one year low of $43.17 and a one year high of $54.97. The firm has a market capitalization of $6,060.00, a PE ratio of 18.99, a price-to-earnings-growth ratio of 1.90 and a beta of 1.03.

Leggett & Platt, (NYSE:LEG) last released its quarterly earnings results on Thursday, October 26th. The company reported $0.61 EPS for the quarter, topping analysts’ consensus estimates of $0.60 by $0.01. Leggett & Platt, had a return on equity of 29.60% and a net margin of 8.75%. The company had revenue of $1.01 billion for the quarter, compared to analysts’ expectations of $1.01 billion. During the same period in the prior year, the firm earned $0.67 earnings per share. The firm’s revenue was up 6.4% compared to the same quarter last year. equities analysts predict that Leggett & Platt, Incorporated will post 2.49 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Friday, January 12th. Shareholders of record on Friday, December 15th will be paid a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a yield of 3.13%. The ex-dividend date is Thursday, December 14th. Leggett & Platt,’s dividend payout ratio (DPR) is 58.30%.

TRADEMARK VIOLATION WARNING: This piece was originally published by Watch List News and is owned by of Watch List News. If you are viewing this piece on another site, it was illegally copied and republished in violation of US & international copyright law. The legal version of this piece can be read at https://www.watchlistnews.com/leggett-platt-incorporated-leg-position-lifted-by-commerce-bank/1707380.html.

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.

Want to see what other hedge funds are holding LEG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Leggett & Platt, Incorporated (NYSE:LEG).

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

Receive News & Ratings for Leggett & Platt Incorporated Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Leggett & Platt Incorporated and related companies with Analyst Ratings Network's FREE daily email newsletter.