Sheaff Brock Investment Advisors LLC Trims Holdings in Leggett & Platt, Incorporated (LEG)

Sheaff Brock Investment Advisors LLC trimmed its holdings in shares of Leggett & Platt, Incorporated (NYSE:LEG) by 16.9% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,923 shares of the company’s stock after selling 1,000 shares during the quarter. Sheaff Brock Investment Advisors LLC’s holdings in Leggett & Platt, were worth $259,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of LEG. Van ECK Associates Corp boosted its stake in shares of Leggett & Platt, by 7.4% in the 1st quarter. Van ECK Associates Corp now owns 2,122 shares of the company’s stock valued at $107,000 after purchasing an additional 147 shares during the last quarter. TrimTabs Asset Management LLC boosted its stake in shares of Leggett & Platt, by 89.0% in the 1st quarter. TrimTabs Asset Management LLC now owns 2,328 shares of the company’s stock valued at $117,000 after purchasing an additional 1,096 shares during the last quarter. Oppenheimer Asset Management Inc. bought a new stake in shares of Leggett & Platt, in the 1st quarter valued at $126,000. OLD Mutual Customised Solutions Proprietary Ltd. boosted its stake in shares of Leggett & Platt, by 123.8% in the 1st quarter. OLD Mutual Customised Solutions Proprietary Ltd. now owns 2,686 shares of the company’s stock valued at $135,000 after purchasing an additional 1,486 shares during the last quarter. Finally, Exane Derivatives boosted its stake in shares of Leggett & Platt, by 132,500.0% in the 2nd quarter. Exane Derivatives now owns 2,652 shares of the company’s stock valued at $139,000 after purchasing an additional 2,650 shares during the last quarter. 69.00% of the stock is currently owned by hedge funds and other institutional investors.

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Leggett & Platt, Incorporated (NYSE:LEG) opened at 45.59 on Wednesday. The company’s 50 day moving average is $47.35 and its 200-day moving average is $50.54. The firm has a market cap of $6.03 billion, a P/E ratio of 18.09 and a beta of 1.00. Leggett & Platt, Incorporated has a 52-week low of $43.17 and a 52-week high of $54.97.

Leggett & Platt, (NYSE:LEG) last issued its earnings results 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 return on equity of 31.02% and a net margin of 9.17%. The firm had revenue of $989.30 million during the quarter, compared to the consensus estimate of $1 billion. During the same quarter in the prior year, the business posted $0.66 EPS. The firm’s revenue for the quarter was up 3.2% on a year-over-year basis. On average, equities analysts predict that Leggett & Platt, Incorporated will post $2.45 EPS for the current fiscal year.

The company 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 3.16%. The ex-dividend date of this dividend is Thursday, September 14th. Leggett & Platt,’s dividend payout ratio is 57.14%.

A number of research firms have recently commented on LEG. Zacks Investment Research lowered shares of Leggett & Platt, from a “hold” rating to a “sell” rating in a research note on Tuesday, July 4th. Gabelli began coverage on shares of Leggett & Platt, in a research note on Wednesday, June 21st. They issued a “hold” rating and a $53.00 price objective on the stock. Stifel Nicolaus reaffirmed a “hold” rating on shares of Leggett & Platt, in a research note on Thursday, September 7th. Hilliard Lyons raised shares of Leggett & Platt, from a “neutral” rating to a “long-term buy” rating and set a $66.00 price objective on the stock in a research note on Monday, July 24th. Finally, BidaskClub lowered shares of Leggett & Platt, from a “buy” rating to a “hold” rating in a research note on Monday, July 31st. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating, two have given a buy rating and two have given a strong buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $55.63.

In other news, insider Matthew C. Flanigan sold 19,589 shares of the firm’s stock in a transaction that occurred 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 in the company, valued at $7,909,100.76. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.78% of the stock is currently owned by company 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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