Ardevora Asset Management LLP Boosts Position in Leggett & Platt, Incorporated (NYSE:LEG)

Ardevora Asset Management LLP increased its stake in Leggett & Platt, Incorporated (NYSE:LEG) by 13.1% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 667,300 shares of the company’s stock after buying an additional 77,100 shares during the period. Ardevora Asset Management LLP owned 0.50% of Leggett & Platt, worth $35,053,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. Chesley Taft & Associates LLC boosted its stake in shares of Leggett & Platt, by 0.3% in the first quarter. Chesley Taft & Associates LLC now owns 14,825 shares of the company’s stock valued at $746,000 after buying an additional 50 shares in the last quarter. Ronna Sue Cohen boosted its stake in shares of Leggett & Platt, by 0.6% in the first quarter. Ronna Sue Cohen now owns 8,173 shares of the company’s stock valued at $411,000 after buying an additional 51 shares in the last quarter. Trustmark National Bank Trust Department boosted its stake in shares of Leggett & Platt, by 0.9% in the first quarter. Trustmark National Bank Trust Department now owns 6,360 shares of the company’s stock valued at $320,000 after buying an additional 59 shares in the last quarter. Huntington National Bank boosted its stake in shares of Leggett & Platt, by 0.8% in the first quarter. Huntington National Bank now owns 9,101 shares of the company’s stock valued at $458,000 after buying an additional 69 shares in the last quarter. Finally, Smith Moore & CO. boosted its stake in shares of Leggett & Platt, by 1.2% in the first quarter. Smith Moore & CO. now owns 7,479 shares of the company’s stock valued at $376,000 after buying an additional 86 shares in the last quarter. 72.10% of the stock is owned by institutional investors.

Shares of Leggett & Platt, Incorporated (LEG) traded down 0.02% during mid-day trading on Friday, reaching $46.97. 657,855 shares of the company traded hands. The company has a market capitalization of $6.21 billion, a P/E ratio of 18.64 and a beta of 0.98. Leggett & Platt, Incorporated has a 52-week low of $44.02 and a 52-week high of $54.97. The firm’s 50 day moving average price is $51.18 and its 200-day moving average price is $50.86.

Leggett & Platt, (NYSE:LEG) last announced its earnings results on Thursday, July 27th. The company reported $0.64 earnings per share (EPS) for the quarter, missing the Zacks’ 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 during the quarter, compared to analyst estimates of $1 billion. During the same period in the previous year, the company earned $0.66 earnings per share. The business’s revenue for the quarter was up 3.2% on a year-over-year basis. Equities analysts predict that Leggett & Platt, Incorporated will post $2.60 earnings per share for the current fiscal year.

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

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LEG has been the topic of several research reports. Zacks Investment Research cut shares of Leggett & Platt, from a “hold” rating to a “sell” rating in a research report on Wednesday, April 19th. Piper Jaffray Companies initiated coverage on shares of Leggett & Platt, in a research report on Monday, June 5th. They set an “overweight” rating and a $59.00 price target on the stock. Credit Suisse Group initiated coverage on shares of Leggett & Platt, in a research report on Thursday, June 22nd. They set a “neutral” rating and a $56.00 price target on the stock. BidaskClub raised shares of Leggett & Platt, from a “hold” rating to a “buy” rating in a research report on Saturday, June 17th. Finally, Gabelli initiated coverage on shares of Leggett & Platt, in a research report on Wednesday, June 21st. They set a “hold” rating and a $53.00 price target on the stock. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating, two have assigned a buy rating and two have assigned a strong buy rating to the company. Leggett & Platt, has an average rating of “Hold” and a consensus price target of $56.88.

In other Leggett & Platt, news, insider Matthew C. Flanigan sold 19,589 shares of the company’s stock in a transaction that occurred on Monday, July 31st. The stock was sold at an average price of $49.58, for a total value of $971,222.62. Following the transaction, the insider now directly 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 is accessible through the SEC website. Corporate insiders own 1.78% 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.

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

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