Worldquant Millennium Quantitative Strategies LLC purchased a new stake in shares of Leggett & Platt, Inc. (NYSE:LEG) during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 83,111 shares of the company’s stock, valued at approximately $3,710,000.

A number of other institutional investors have also added to or reduced their stakes in the stock. Victory Capital Management Inc. raised its stake in Leggett & Platt by 0.5% during the second quarter. Victory Capital Management Inc. now owns 261,331 shares of the company’s stock valued at $11,666,000 after purchasing an additional 1,191 shares in the last quarter. Palisade Asset Management LLC raised its stake in Leggett & Platt by 2.0% during the second quarter. Palisade Asset Management LLC now owns 63,691 shares of the company’s stock valued at $2,843,000 after purchasing an additional 1,241 shares in the last quarter. Monroe Bank & Trust MI raised its stake in Leggett & Platt by 3.6% during the second quarter. Monroe Bank & Trust MI now owns 36,422 shares of the company’s stock valued at $1,626,000 after purchasing an additional 1,281 shares in the last quarter. Amalgamated Bank raised its stake in Leggett & Platt by 4.8% during the first quarter. Amalgamated Bank now owns 29,667 shares of the company’s stock valued at $1,316,000 after purchasing an additional 1,371 shares in the last quarter. Finally, OppenheimerFunds Inc. raised its stake in Leggett & Platt by 18.0% during the second quarter. OppenheimerFunds Inc. now owns 9,030 shares of the company’s stock valued at $403,000 after purchasing an additional 1,375 shares in the last quarter. 79.43% of the stock is currently owned by institutional investors.

Several brokerages have recently weighed in on LEG. Zacks Investment Research raised shares of Leggett & Platt from a “sell” rating to a “hold” rating in a research note on Thursday, June 21st. ValuEngine raised shares of Leggett & Platt from a “sell” rating to a “hold” rating in a research note on Wednesday, August 22nd. Finally, Stifel Nicolaus raised shares of Leggett & Platt from a “hold” rating to a “buy” rating and increased their target price for the company from $48.00 to $50.00 in a research note on Thursday, May 31st. Four equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $48.20.

In other news, insider Matthew C. Flanigan sold 15,672 shares of the stock in a transaction on Thursday, August 23rd. The shares were sold at an average price of $46.00, for a total value of $720,912.00. Following the sale, the insider now owns 116,341 shares of the company’s stock, valued at $5,351,686. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Matthew C. Flanigan sold 29,248 shares of the stock in a transaction on 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 completion of 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.

Shares of LEG opened at $46.40 on Friday. Leggett & Platt, Inc. has a twelve month low of $39.57 and a twelve month high of $51.99. The firm has a market capitalization of $6.02 billion, a PE ratio of 19.28, a PEG ratio of 1.66 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 earnings results on Thursday, July 26th. The company reported $0.63 earnings per share 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 business had revenue of $1.10 billion for the quarter, compared to the consensus estimate of $1.09 billion. During the same quarter in the prior year, the firm posted $0.64 earnings per share. The business’s revenue for the quarter was up 11.4% on a year-over-year basis. equities research analysts predict that Leggett & Platt, Inc. will post 2.62 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Monday, October 15th. Stockholders of record on Monday, September 24th will be paid a $0.38 dividend. This represents a $1.52 annualized dividend and a dividend yield of 3.28%. The ex-dividend date of this dividend is Friday, September 21st. Leggett & Platt’s dividend payout ratio is currently 61.79%.

Leggett & Platt Company 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.

See Also: Exchange-Traded Funds (ETFs)

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

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