Wedbush Securities Inc. Sells 240 Shares of Leggett & Platt, Incorporated (LEG)

Wedbush Securities Inc. reduced its stake in shares of Leggett & Platt, Incorporated (NYSE:LEG) by 0.5% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 53,047 shares of the company’s stock after selling 240 shares during the period. Wedbush Securities Inc.’s holdings in Leggett & Platt, were worth $2,787,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the stock. Teachers Advisors LLC boosted its position in shares of Leggett & Platt, by 6.3% in the fourth quarter. Teachers Advisors LLC now owns 338,172 shares of the company’s stock valued at $16,530,000 after buying an additional 19,947 shares in the last quarter. Macquarie Group Ltd. boosted its position in shares of Leggett & Platt, by 97.4% in the fourth quarter. Macquarie Group Ltd. now owns 7,500 shares of the company’s stock valued at $367,000 after buying an additional 3,700 shares in the last quarter. Chevy Chase Trust Holdings Inc. boosted its position in shares of Leggett & Platt, by 3.2% in the first quarter. Chevy Chase Trust Holdings Inc. now owns 115,294 shares of the company’s stock valued at $5,801,000 after buying an additional 3,590 shares in the last quarter. Gulf International Bank UK Ltd boosted its position in shares of Leggett & Platt, by 0.9% in the first quarter. Gulf International Bank UK Ltd now owns 43,585 shares of the company’s stock valued at $2,193,000 after buying an additional 400 shares in the last quarter. Finally, Bank of Montreal Can boosted its position in shares of Leggett & Platt, by 15.3% in the first quarter. Bank of Montreal Can now owns 453,370 shares of the company’s stock valued at $22,815,000 after buying an additional 60,212 shares in the last quarter. 72.10% of the stock is currently owned by institutional investors.

Shares of Leggett & Platt, Incorporated (NYSE:LEG) opened at 46.97 on Friday. The stock has a market capitalization of $6.21 billion, a price-to-earnings ratio of 18.64 and a beta of 0.98. Leggett & Platt, Incorporated has a 12 month low of $44.02 and a 12 month high of $54.97. The firm’s 50 day moving average is $51.18 and its 200 day moving average is $50.86.

Leggett & Platt, (NYSE:LEG) last released its earnings results on Thursday, July 27th. The company reported $0.64 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.65 by $0.01. The firm had revenue of $989.30 million for the quarter, compared to analyst estimates of $1 billion. Leggett & Platt, had a return on equity of 31.02% and a net margin of 9.17%. Leggett & Platt,’s revenue was up 3.2% on a year-over-year basis. During the same period in the previous year, the firm earned $0.66 earnings per share. On average, equities analysts predict that Leggett & Platt, Incorporated will post $2.60 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Friday, October 13th. Investors of record on Friday, September 15th will be issued a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a yield of 3.07%. The ex-dividend date is Thursday, September 14th. Leggett & Platt,’s payout ratio is currently 57.14%.

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Several equities analysts have issued reports on LEG shares. Zacks Investment Research cut shares of Leggett & Platt, from a “hold” rating to a “sell” rating in a research note on Wednesday, April 19th. Piper Jaffray Companies started coverage on shares of Leggett & Platt, in a research report on Monday, June 5th. They set an “overweight” rating and a $59.00 target price on the stock. BidaskClub lowered shares of Leggett & Platt, from a “buy” rating to a “hold” rating in a research report on Friday, June 9th. Gabelli started coverage on shares of Leggett & Platt, in a research report on Wednesday, June 21st. They set a “hold” rating and a $53.00 target price on the stock. Finally, Credit Suisse Group started coverage on shares of Leggett & Platt, in a research report on Thursday, June 22nd. They set a “neutral” rating and a $56.00 target price on the stock. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating, two have given a buy rating and two have issued a strong buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $56.88.

In related news, insider Matthew C. Flanigan sold 19,589 shares of Leggett & Platt, stock in a transaction dated Monday, July 31st. The stock was sold at an average price of $49.58, for a total transaction of $971,222.62. Following the transaction, the insider now directly owns 159,522 shares of the company’s stock, valued at $7,909,100.76. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 1.78% of the stock is owned by 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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