Swiss National Bank Purchases 101,200 Shares of Leggett & Platt, Inc. (LEG)

Swiss National Bank increased its position in shares of Leggett & Platt, Inc. (NYSE:LEG) by 27.2% during the first quarter, Holdings Channel reports. The institutional investor owned 473,836 shares of the company’s stock after buying an additional 101,200 shares during the period. Swiss National Bank’s holdings in Leggett & Platt were worth $23,843,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Crawford Investment Counsel Inc. increased its position in shares of Leggett & Platt by 27.9% in the first quarter. Crawford Investment Counsel Inc. now owns 195,825 shares of the company’s stock worth $9,854,000 after buying an additional 42,705 shares in the last quarter. Benjamin F. Edwards & Company Inc. increased its position in shares of Leggett & Platt by 5.4% in the first quarter. Benjamin F. Edwards & Company Inc. now owns 21,176 shares of the company’s stock worth $1,066,000 after buying an additional 1,076 shares in the last quarter. LS Investment Advisors LLC increased its position in shares of Leggett & Platt by 16.0% in the first quarter. LS Investment Advisors LLC now owns 57,175 shares of the company’s stock worth $2,877,000 after buying an additional 7,901 shares in the last quarter. Pictet Asset Management Ltd. increased its position in shares of Leggett & Platt by 1.3% in the first quarter. Pictet Asset Management Ltd. now owns 71,772 shares of the company’s stock worth $3,612,000 after buying an additional 900 shares in the last quarter. Finally, Xact Kapitalforvaltning AB increased its position in shares of Leggett & Platt by 0.6% in the first quarter. Xact Kapitalforvaltning AB now owns 33,501 shares of the company’s stock worth $1,686,000 after buying an additional 207 shares in the last quarter. Institutional investors and hedge funds own 69.01% of the company’s stock.

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

Shares of Leggett & Platt, Inc. (NYSE:LEG) traded up 1.20% on Friday, reaching $50.70. The company had a trading volume of 461,202 shares. Leggett & Platt, Inc. has a 12 month low of $44.02 and a 12 month high of $54.97. The firm’s 50 day moving average is $52.01 and its 200 day moving average is $49.53. The firm has a market capitalization of $6.71 billion, a PE ratio of 18.46 and a beta of 1.02.

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Leggett & Platt (NYSE:LEG) last announced its quarterly earnings data on Thursday, April 27th. The company reported $0.62 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.59 by $0.03. The business had revenue of $960.30 million for the quarter, compared to analysts’ expectations of $958.98 million. Leggett & Platt had a return on equity of 32.02% and a net margin of 10.29%. The company’s revenue for the quarter was up 2.3% compared to the same quarter last year. During the same period last year, the firm earned $0.63 earnings per share. On average, equities research analysts expect that Leggett & Platt, Inc. will post $2.63 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 14th. Stockholders of record on Thursday, June 15th will be paid a $0.36 dividend. This is a boost from Leggett & Platt’s previous quarterly dividend of $0.34. This represents a $1.44 annualized dividend and a dividend yield of 2.87%. The ex-dividend date is Tuesday, June 13th. Leggett & Platt’s dividend payout ratio (DPR) is presently 49.28%.

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A number of brokerages have recently issued reports on LEG. Zacks Investment Research downgraded Leggett & Platt from a “buy” rating to a “hold” rating in a report on Monday. Stifel Nicolaus lifted their price target on Leggett & Platt from $48.00 to $52.00 and gave the company a “hold” rating in a report on Monday, April 3rd. Finally, Raymond James Financial, Inc. upgraded Leggett & Platt from a “market perform” rating to a “strong-buy” rating and set a $54.00 price target on the stock in a report on Wednesday, February 1st. Five investment analysts have rated the stock with a hold rating and one has assigned a strong buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $55.25.

In other news, SVP Scott S. Douglas sold 5,000 shares of the stock in a transaction on Wednesday, May 3rd. The stock was sold at an average price of $53.26, for a total value of $266,300.00. Following the sale, the senior vice president now directly owns 36,133 shares in the company, valued at $1,924,443.58. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider J Mitchell Dolloff sold 20,000 shares of the stock in a transaction on Thursday, February 23rd. The shares were sold at an average price of $49.05, for a total value of $981,000.00. Following the completion of the sale, the insider now owns 74,916 shares in the company, valued at $3,674,629.80. The disclosure for this sale can be found here. Over the last quarter, insiders sold 66,320 shares of company stock worth $3,458,652. Insiders own 3.92% 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.

5 Day Chart for NYSE:LEG

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