CIBC Asset Management Inc boosted its stake in Leggett & Platt, Incorporated (NYSE:LEG) by 0.3% during the second quarter, Holdings Channel reports. The institutional investor owned 12,828 shares of the company’s stock after buying an additional 44 shares during the period. CIBC Asset Management Inc’s holdings in Leggett & Platt, were worth $674,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of the company. Teachers Advisors LLC boosted its stake in 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. boosted its stake in 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. boosted its stake in 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 boosted its stake in 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 boosted its stake in 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. Institutional investors and hedge funds own 72.06% of the company’s stock.

Shares of Leggett & Platt, Incorporated (NYSE:LEG) opened at 47.43 on Tuesday. The stock’s 50 day moving average is $51.03 and its 200 day moving average is $50.89. 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 $6.27 billion, a PE ratio of 18.82 and a beta of 0.98.

Leggett & Platt, (NYSE:LEG) last released its earnings results on Thursday, July 27th. The company reported $0.64 EPS for the quarter, missing the consensus estimate of $0.65 by $0.01. Leggett & Platt, had a return on equity of 31.02% and a net margin of 9.17%. The company had revenue of $989.30 million during the quarter, compared to analysts’ expectations of $1 billion. During the same period last year, the firm posted $0.66 EPS. Leggett & Platt,’s quarterly revenue was up 3.2% compared to the same quarter last year. Equities research analysts forecast that Leggett & Platt, Incorporated will post $2.60 earnings per share for the current 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 annualized dividend and a dividend yield of 3.04%. The ex-dividend date is Thursday, September 14th. Leggett & Platt,’s dividend payout ratio (DPR) is presently 57.14%.

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Several research firms have recently weighed in on LEG. Zacks Investment Research cut shares of Leggett & Platt, from a “hold” rating to a “sell” rating in a research report on Wednesday, April 19th. Piper Jaffray Companies began coverage on shares of Leggett & Platt, in a research report on Monday, June 5th. They set an “overweight” rating and a $59.00 price objective on the stock. BidaskClub cut shares of Leggett & Platt, from a “buy” rating to a “hold” rating in a research report on Friday, June 9th. Gabelli began coverage on shares of Leggett & Platt, in a research report on Wednesday, June 21st. They set a “hold” rating and a $53.00 price objective on the stock. Finally, Credit Suisse Group began coverage on shares of Leggett & Platt, in a research report on Thursday, June 22nd. They set a “neutral” rating and a $56.00 price objective on the stock. Two investment analysts have rated the stock with a sell rating, four have given a hold rating, two have assigned a buy rating and two have given a strong buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $56.88.

In other news, insider Matthew C. Flanigan sold 19,589 shares of the business’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 transaction, the insider now owns 159,522 shares of the company’s stock, valued at $7,909,100.76. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 1.78% of the stock is currently owned by 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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