NGAM Advisors L.P. lowered its position in shares of Leggett & Platt, Incorporated (NYSE:LEG) by 23.7% during the second quarter, Holdings Channel reports. The firm owned 22,335 shares of the company’s stock after selling 6,935 shares during the period. NGAM Advisors L.P.’s holdings in Leggett & Platt, were worth $1,173,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in LEG. Ronna Sue Cohen raised its position in Leggett & Platt, by 0.6% in the second quarter. Ronna Sue Cohen now owns 8,220 shares of the company’s stock worth $432,000 after buying an additional 47 shares during the period. Trustmark National Bank Trust Department raised its position in Leggett & Platt, by 0.9% in the first quarter. Trustmark National Bank Trust Department now owns 6,360 shares of the company’s stock worth $320,000 after buying an additional 59 shares during the period. Huntington National Bank raised its position in Leggett & Platt, by 0.8% in the first quarter. Huntington National Bank now owns 9,101 shares of the company’s stock worth $458,000 after buying an additional 69 shares during the period. Smith Moore & CO. raised its position in Leggett & Platt, by 1.2% in the first quarter. Smith Moore & CO. now owns 7,479 shares of the company’s stock worth $376,000 after buying an additional 86 shares during the period. Finally, Opus Capital Group LLC raised its position in Leggett & Platt, by 1.3% in the first quarter. Opus Capital Group LLC now owns 7,634 shares of the company’s stock worth $384,000 after buying an additional 98 shares during the period. Hedge funds and other institutional investors own 72.06% of the company’s stock.

Leggett & Platt, Incorporated (NYSE:LEG) opened at 47.15 on Wednesday. The stock has a market capitalization of $6.24 billion, a price-to-earnings ratio of 18.71 and a beta of 0.98. Leggett & Platt, Incorporated has a 52-week low of $44.02 and a 52-week high of $54.97. The stock’s 50 day moving average is $50.86 and its 200-day moving average is $50.89.

Leggett & Platt, (NYSE:LEG) last posted 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 analysts’ expectations of $1 billion. Leggett & Platt, had a net margin of 9.17% and a return on equity of 31.02%. The business’s revenue was up 3.2% on a year-over-year basis. During the same period in the previous year, the business posted $0.66 earnings per share. Equities research 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. Investors of record on Friday, September 15th will be paid a dividend of $0.36 per share. The ex-dividend date is Thursday, September 14th. This represents a $1.44 annualized dividend and a yield of 3.05%. Leggett & Platt,’s payout ratio is 57.14%.

TRADEMARK VIOLATION NOTICE: This story was first published by Watch List News and is the sole property of of Watch List News. If you are viewing this story on another site, it was illegally stolen and reposted in violation of U.S. and international copyright & trademark laws. The original version of this story can be read at https://www.watchlistnews.com/ngam-advisors-l-p-has-1-17-million-position-in-leggett-platt-incorporated-leg/1493070.html.

A number of research firms have recently commented on LEG. Hilliard Lyons upgraded shares of Leggett & Platt, from a “neutral” rating to a “long-term buy” rating and set a $66.00 price target for the company in a research report on Monday, July 24th. Piper Jaffray Companies set a $59.00 price target on shares of Leggett & Platt, and gave the company a “buy” rating in a research report on Monday. Zacks Investment Research lowered shares of Leggett & Platt, from a “buy” rating to a “hold” rating in a research report on Monday, May 15th. 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 target for the company. Finally, BidaskClub lowered shares of Leggett & Platt, from a “buy” rating to a “hold” rating in a research report on Monday, July 31st. Two analysts have rated the stock with a sell rating, four have given a hold rating, two have issued a buy rating and two have assigned a strong buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $56.88.

In related news, insider Matthew C. Flanigan sold 19,589 shares of the firm’s stock in a transaction on Monday, July 31st. The shares were sold at an average price of $49.58, for a total transaction 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 $7,909,100.76. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 1.78% of the company’s stock.

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.

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.