Ladenburg Thalmann Financial Services Inc. Has $711,000 Stock Position in Leggett & Platt, Inc. (NYSE:LEG)

Ladenburg Thalmann Financial Services Inc. grew its stake in shares of Leggett & Platt, Inc. (NYSE:LEG) by 9.1% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 18,558 shares of the company’s stock after purchasing an additional 1,544 shares during the quarter. Ladenburg Thalmann Financial Services Inc.’s holdings in Leggett & Platt were worth $711,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of the business. Advisory Services Network LLC increased its position in shares of Leggett & Platt by 25.1% during the 2nd quarter. Advisory Services Network LLC now owns 1,248 shares of the company’s stock worth $48,000 after purchasing an additional 250 shares during the last quarter. Woodstock Corp boosted its stake in shares of Leggett & Platt by 2.3% during the 2nd quarter. Woodstock Corp now owns 13,200 shares of the company’s stock worth $506,000 after acquiring an additional 300 shares during the period. Bbva USA Bancshares Inc. boosted its stake in shares of Leggett & Platt by 5.1% during the 2nd quarter. Bbva USA Bancshares Inc. now owns 6,842 shares of the company’s stock worth $262,000 after acquiring an additional 335 shares during the period. Lido Advisors LLC boosted its stake in shares of Leggett & Platt by 5.1% during the 2nd quarter. Lido Advisors LLC now owns 6,916 shares of the company’s stock worth $268,000 after acquiring an additional 335 shares during the period. Finally, Hamilton Point Investment Advisors LLC boosted its stake in shares of Leggett & Platt by 1.1% during the 2nd quarter. Hamilton Point Investment Advisors LLC now owns 33,596 shares of the company’s stock worth $1,302,000 after acquiring an additional 355 shares during the period. 78.00% of the stock is currently owned by hedge funds and other institutional investors.

Several brokerages have recently commented on LEG. TheStreet upgraded Leggett & Platt from a “c+” rating to a “b-” rating in a research note on Friday, September 27th. ValuEngine downgraded Leggett & Platt from a “hold” rating to a “sell” rating in a research note on Friday. Finally, Raymond James downgraded Leggett & Platt from an “outperform” rating to a “market perform” rating in a research note on Wednesday, July 24th. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and one has assigned a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $42.00.

In related news, CEO Karl G. Glassman sold 10,683 shares of the business’s stock in a transaction on Monday, September 16th. The stock was sold at an average price of $42.13, for a total value of $450,074.79. Following the completion of the sale, the chief executive officer now directly owns 460,505 shares in the company, valued at approximately $19,401,075.65. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 1.45% of the company’s stock.

Shares of NYSE LEG opened at $40.88 on Friday. The company has a current ratio of 1.89, a quick ratio of 1.16 and a debt-to-equity ratio of 2.01. Leggett & Platt, Inc. has a 12 month low of $33.48 and a 12 month high of $46.50. The stock has a 50 day moving average of $39.49 and a 200-day moving average of $39.43. The company has a market capitalization of $5.09 billion, a P/E ratio of 16.48 and a beta of 1.10.

Leggett & Platt (NYSE:LEG) last issued its earnings results on Monday, July 29th. The company reported $0.64 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.63 by $0.01. Leggett & Platt had a return on equity of 27.47% and a net margin of 6.44%. The company had revenue of $1.21 billion during the quarter, compared to the consensus estimate of $1.28 billion. During the same period in the previous year, the company posted $0.63 EPS. Analysts predict that Leggett & Platt, Inc. will post 2.45 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Friday, September 13th will be paid a $0.40 dividend. The ex-dividend date is Thursday, September 12th. This represents a $1.60 annualized dividend and a yield of 3.91%. Leggett & Platt’s dividend payout ratio (DPR) is presently 64.52%.

About Leggett & Platt

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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