Candriam Luxembourg S.C.A. reduced its position in Leggett & Platt, Incorporated (NYSE:LEG) by 17.1% during the second quarter, Holdings Channel reports. The fund owned 45,660 shares of the company’s stock after selling 9,426 shares during the period. Candriam Luxembourg S.C.A.’s holdings in Leggett & Platt, were worth $2,399,000 as of its most recent filing with the SEC.

Other large investors have also recently made changes to their positions in the company. Stratos Wealth Partners LTD. increased its stake in shares of Leggett & Platt, by 25.3% in the second quarter. Stratos Wealth Partners LTD. now owns 6,904 shares of the company’s stock worth $363,000 after buying an additional 1,393 shares during the last quarter. First Manhattan Co. increased its stake in shares of Leggett & Platt, by 1.2% in the second quarter. First Manhattan Co. now owns 45,048 shares of the company’s stock worth $2,366,000 after buying an additional 514 shares during the last quarter. Speece Thorson Capital Group Inc. increased its stake in shares of Leggett & Platt, by 15.9% in the second quarter. Speece Thorson Capital Group Inc. now owns 360,562 shares of the company’s stock worth $18,940,000 after buying an additional 49,507 shares during the last quarter. Welch Investments LLC increased its stake in shares of Leggett & Platt, by 5.3% in the second quarter. Welch Investments LLC now owns 82,527 shares of the company’s stock worth $4,335,000 after buying an additional 4,163 shares during the last quarter. Finally, Lee Financial Co increased its stake in shares of Leggett & Platt, by 1.3% in the second quarter. Lee Financial Co now owns 22,112 shares of the company’s stock worth $1,162,000 after buying an additional 282 shares during the last quarter. 72.10% of the stock is currently owned by hedge funds and other institutional investors.

Leggett & Platt, Incorporated (LEG) opened at 47.70 on Thursday. Leggett & Platt, Incorporated has a 12 month low of $44.02 and a 12 month high of $54.97. The firm’s 50-day moving average is $51.51 and its 200-day moving average is $50.89. The company has a market capitalization of $6.31 billion, a PE ratio of 18.93 and a beta of 0.98.

Leggett & Platt, (NYSE:LEG) last released its earnings results on Thursday, July 27th. The company reported $0.64 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.65 by $0.01. The company had revenue of $989.30 million for the quarter, compared to the consensus estimate of $1 billion. Leggett & Platt, had a net margin of 9.17% and a return on equity of 31.02%. The business’s revenue for the quarter was up 3.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.66 EPS. Equities analysts anticipate 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 given a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a dividend yield of 3.02%. The ex-dividend date of this dividend is Thursday, September 14th. Leggett & Platt,’s dividend payout ratio is currently 57.14%.

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A number of brokerages have recently issued reports on LEG. BidaskClub downgraded shares of Leggett & Platt, from a “hold” rating to a “sell” rating in a report on Sunday. Zacks Investment Research downgraded shares of Leggett & Platt, from a “hold” rating to a “sell” rating in a report on Tuesday, August 1st. Hilliard Lyons raised shares of Leggett & Platt, from a “neutral” rating to a “long-term buy” rating and set a $66.00 price target on the stock in a report on Monday, July 24th. Piper Jaffray Companies reissued a “buy” rating and issued a $59.00 price target on shares of Leggett & Platt, in a report on Friday, July 14th. Finally, Credit Suisse Group began coverage on shares of Leggett & Platt, in a report on Thursday, June 22nd. They issued a “neutral” rating and a $56.00 price target on the stock. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating, two have assigned a buy rating and two have issued a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $56.88.

In other news, insider Matthew C. Flanigan sold 19,589 shares of the business’s stock in a transaction that occurred on Monday, July 31st. The stock was sold at an average price of $49.58, for a total transaction of $971,222.62. Following the transaction, the insider now owns 159,522 shares of the company’s stock, valued at approximately $7,909,100.76. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 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.

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

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