Leggett & Platt, Incorporated (LEG) Shares Bought by Schwab Charles Investment Management Inc.

Schwab Charles Investment Management Inc. grew its position in shares of Leggett & Platt, Incorporated (NYSE:LEG) by 6.7% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 820,051 shares of the company’s stock after purchasing an additional 51,765 shares during the period. Schwab Charles Investment Management Inc. owned approximately 0.62% of Leggett & Platt, worth $43,078,000 at the end of the most recent reporting period.

Several other institutional investors have also recently modified their holdings of the company. CIBC Asset Management Inc grew its position in shares of Leggett & Platt, by 0.3% during the second quarter. CIBC Asset Management Inc now owns 12,828 shares of the company’s stock valued at $674,000 after purchasing an additional 44 shares in the last quarter. Ronna Sue Cohen grew its position in shares of Leggett & Platt, by 0.6% during the second quarter. Ronna Sue Cohen now owns 8,220 shares of the company’s stock valued at $432,000 after purchasing an additional 47 shares in the last quarter. Trustmark National Bank Trust Department grew its position in shares of Leggett & Platt, by 0.9% during the first quarter. Trustmark National Bank Trust Department now owns 6,360 shares of the company’s stock valued at $320,000 after purchasing an additional 59 shares in the last quarter. Smith Moore & CO. grew its position in shares of Leggett & Platt, by 1.2% during the first quarter. Smith Moore & CO. now owns 7,479 shares of the company’s stock valued at $376,000 after purchasing an additional 86 shares in the last quarter. Finally, Burney Co. grew its position in shares of Leggett & Platt, by 2.2% during the first quarter. Burney Co. now owns 4,745 shares of the company’s stock valued at $239,000 after purchasing an additional 100 shares in the last quarter. Hedge funds and other institutional investors own 69.00% of the company’s stock.

LEG has been the subject of a number of research analyst reports. Piper Jaffray Companies initiated coverage on Leggett & Platt, in a research report on Monday, June 5th. They set an “overweight” rating and a $59.00 price objective for the company. Credit Suisse Group initiated coverage on Leggett & Platt, in a research report on Thursday, June 22nd. They set a “neutral” rating and a $56.00 price objective for the company. Stifel Nicolaus restated a “hold” rating on shares of Leggett & Platt, in a research report on Thursday. Zacks Investment Research lowered Leggett & Platt, from a “hold” rating to a “sell” rating in a research report on Tuesday, August 1st. Finally, BidaskClub upgraded Leggett & Platt, from a “hold” rating to a “buy” rating in a research report on Saturday, June 17th. Two research 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’s stock. Leggett & Platt, presently has a consensus rating of “Hold” and an average target price of $55.63.

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In related news, insider Matthew C. Flanigan sold 19,589 shares of the company’s stock in a transaction dated 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 sale, the insider now owns 159,522 shares of the company’s stock, valued at approximately $7,909,100.76. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 1.78% of the stock is currently owned by corporate insiders.

Leggett & Platt, Incorporated (NYSE:LEG) opened at 45.30 on Monday. The company has a 50 day moving average of $47.56 and a 200-day moving average of $50.55. Leggett & Platt, Incorporated has a one year low of $43.17 and a one year high of $54.97. The company has a market cap of $5.99 billion, a P/E ratio of 17.98 and a beta of 1.00.

Leggett & Platt, (NYSE:LEG) last announced its quarterly earnings data on Thursday, July 27th. The company reported $0.64 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.65 by $0.01. Leggett & Platt, had a net margin of 9.17% and a return on equity of 31.02%. The business had revenue of $989.30 million for the quarter, compared to analysts’ expectations of $1 billion. During the same period in the prior year, the company posted $0.66 EPS. The firm’s revenue was up 3.2% on a year-over-year basis. On average, equities analysts expect that Leggett & Platt, Incorporated will post $2.49 earnings per share for the current fiscal year.

The firm also recently disclosed 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 3.18%. Leggett & Platt,’s dividend payout ratio is presently 57.14%.

Leggett & Platt, 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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