HL Financial Services LLC raised its position in shares of Leggett & Platt, Incorporated (NYSE:LEG) by 22.2% during the second quarter, Holdings Channel reports. The fund owned 7,148 shares of the company’s stock after buying an additional 1,300 shares during the period. HL Financial Services LLC’s holdings in Leggett & Platt, were worth $375,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in the stock. BlackRock Inc. raised 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 worth $600,969,000 after buying an additional 11,228,920 shares during the last quarter. Vanguard Group Inc. raised 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 worth $776,664,000 after buying an additional 481,689 shares during the last quarter. Schroder Investment Management Group raised 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 worth $53,450,000 after buying an additional 470,611 shares during the last quarter. Thomaspartners Inc. raised 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 worth $192,307,000 after buying an additional 305,900 shares during the last quarter. Finally, KAMES CAPITAL plc raised 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 worth $58,774,000 after buying an additional 270,673 shares during the last quarter. Institutional investors own 72.06% of the company’s stock.

Shares of Leggett & Platt, Incorporated (NYSE LEG) opened at 47.43 on Tuesday. The company’s 50 day moving average price is $51.03 and its 200 day moving average price is $50.89. Leggett & Platt, Incorporated has a one year low of $44.02 and a one year high of $54.97. The stock has a market capitalization of $6.27 billion, a price-to-earnings ratio of 18.82 and a beta of 0.98.

Leggett & Platt, (NYSE:LEG) last announced its quarterly earnings results on Thursday, July 27th. The company reported $0.64 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.65 by $0.01. The firm had revenue of $989.30 million during the quarter, compared to analyst estimates of $1 billion. Leggett & Platt, had a net margin of 9.17% and a return on equity of 31.02%. Leggett & Platt,’s quarterly revenue was up 3.2% on a year-over-year basis. During the same period last year, the firm earned $0.66 EPS. On average, analysts expect that Leggett & Platt, Incorporated will post $2.60 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Friday, October 13th. Investors of record on Friday, September 15th will be paid a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a yield of 3.04%. The ex-dividend date is Thursday, September 14th. Leggett & Platt,’s payout ratio is presently 57.14%.

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LEG has been the subject of a number of research analyst reports. Zacks Investment Research lowered Leggett & Platt, from a “hold” rating to a “sell” rating in a report on Wednesday, April 19th. Hilliard Lyons upgraded Leggett & Platt, from a “neutral” rating to a “long-term buy” rating and set a $66.00 target price for the company in a report on Monday, July 24th. Piper Jaffray Companies initiated coverage on Leggett & Platt, in a report on Monday, June 5th. They issued an “overweight” rating and a $59.00 target price for the company. Credit Suisse Group initiated coverage on Leggett & Platt, in a report on Thursday, June 22nd. They issued a “neutral” rating and a $56.00 target price for the company. Finally, Gabelli initiated coverage on Leggett & Platt, in a report on Wednesday, June 21st. They issued a “hold” rating and a $53.00 target price for the company. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating, two have issued a buy rating and two have issued a strong buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $56.88.

In related news, insider Matthew C. Flanigan sold 19,589 shares of the company’s stock in a transaction on 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 transaction, the insider now directly owns 159,522 shares of the company’s stock, 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 corporate insiders.

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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