Metropolitan Life Insurance Co. NY trimmed its holdings in Leggett & Platt, Inc. (NYSE:LEG) by 22.0% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 19,854 shares of the company’s stock after selling 5,604 shares during the quarter. Metropolitan Life Insurance Co. NY’s holdings in Leggett & Platt were worth $886,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also modified their holdings of the company. Federated Investors Inc. PA bought a new position in shares of Leggett & Platt in the 1st quarter worth about $138,000. Hilltop Holdings Inc. bought a new position in shares of Leggett & Platt in the 1st quarter worth about $200,000. Osborn Williams & Donohoe LLC bought a new position in shares of Leggett & Platt in the 2nd quarter worth about $201,000. Signition LP bought a new position in shares of Leggett & Platt in the 2nd quarter worth about $213,000. Finally, Confluence Wealth Management LLC bought a new position in shares of Leggett & Platt in the 2nd quarter worth about $213,000. Institutional investors own 77.42% of the company’s stock.

Shares of LEG stock opened at $45.65 on Monday. Leggett & Platt, Inc. has a one year low of $39.57 and a one year high of $51.99. The stock has a market cap of $5.94 billion, a P/E ratio of 19.02, a PEG ratio of 1.63 and a beta of 0.84. The company has a current ratio of 1.90, a quick ratio of 1.23 and a debt-to-equity ratio of 1.15.

Leggett & Platt (NYSE:LEG) last announced its quarterly earnings data on Thursday, July 26th. The company reported $0.63 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.61 by $0.02. Leggett & Platt had a net margin of 6.83% and a return on equity of 27.73%. The company had revenue of $1.10 billion for the quarter, compared to the consensus estimate of $1.09 billion. During the same period in the prior year, the firm posted $0.64 EPS. Leggett & Platt’s revenue for the quarter was up 11.4% on a year-over-year basis. analysts forecast that Leggett & Platt, Inc. will post 2.62 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 15th. Investors of record on Monday, September 24th will be given a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a yield of 3.33%. The ex-dividend date of this dividend is Friday, September 21st. Leggett & Platt’s dividend payout ratio (DPR) is 61.79%.

Several brokerages recently commented on LEG. Zacks Investment Research raised shares of Leggett & Platt from a “sell” rating to a “hold” rating in a research report on Friday, September 14th. ValuEngine raised shares of Leggett & Platt from a “sell” rating to a “hold” rating in a research report on Wednesday, August 22nd. Finally, Stifel Nicolaus raised shares of Leggett & Platt from a “hold” rating to a “buy” rating and increased their price objective for the company from $48.00 to $50.00 in a research report on Thursday, May 31st. Four investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $48.20.

In other news, insider Matthew C. Flanigan sold 15,672 shares of the firm’s stock in a transaction dated Thursday, August 23rd. The shares were sold at an average price of $46.00, for a total transaction of $720,912.00. Following the sale, the insider now owns 116,341 shares of the company’s stock, valued at approximately $5,351,686. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Matthew C. Flanigan sold 29,248 shares of the firm’s stock in a transaction dated Monday, July 30th. The shares were sold at an average price of $44.09, for a total transaction of $1,289,544.32. Following the sale, the insider now directly owns 115,039 shares in the company, valued at approximately $5,072,069.51. The disclosure for this sale can be found here. Corporate insiders own 1.52% of the company’s stock.

Leggett & Platt Profile

Leggett & Platt, Incorporated designs and produces various engineered components and products worldwide. It operates through four segments: Residential Products, Furniture Products, Industrial Products, and Specialized Products. The Residential Products segment offers innersprings, wire forms, and machines to shape wire into various types of springs; industrial sewing/finishing machines, conveyor lines, mattress packaging, and glue-drying equipment, as well as quilting machines; and structural fabrics, carpet cushions, and geo components.

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

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