Leggett & Platt, Incorporated (LEG) Holdings Reduced by State Treasurer State of Michigan

State Treasurer State of Michigan reduced its stake in Leggett & Platt, Incorporated (NYSE:LEG) by 7.6% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 40,177 shares of the company’s stock after selling 3,300 shares during the period. State Treasurer State of Michigan’s holdings in Leggett & Platt, were worth $1,918,000 as of its most recent SEC filing.

A number of other institutional investors also recently made changes to their positions in the business. BlackRock Inc. increased its stake in Leggett & Platt, by 0.6% in the second quarter. BlackRock Inc. now owns 12,019,449 shares of the company’s stock valued at $631,381,000 after purchasing an additional 76,484 shares during the last quarter. US Bancorp DE increased its stake in Leggett & Platt, by 2.3% in the second quarter. US Bancorp DE now owns 2,038,293 shares of the company’s stock valued at $107,072,000 after purchasing an additional 46,071 shares during the last quarter. Franklin Resources Inc. increased its stake in Leggett & Platt, by 0.9% in the second quarter. Franklin Resources Inc. now owns 1,584,782 shares of the company’s stock valued at $83,249,000 after purchasing an additional 13,837 shares during the last quarter. KAMES CAPITAL plc increased its stake in Leggett & Platt, by 2.2% in the second quarter. KAMES CAPITAL plc now owns 1,194,230 shares of the company’s stock valued at $62,733,000 after purchasing an additional 25,526 shares during the last quarter. Finally, Schwab Charles Investment Management Inc. increased its stake in Leggett & Platt, by 6.7% in the second quarter. Schwab Charles Investment Management Inc. now owns 820,051 shares of the company’s stock valued at $43,078,000 after purchasing an additional 51,765 shares during the last quarter. Institutional investors own 68.72% of the company’s stock.

Shares of Leggett & Platt, Incorporated (NYSE:LEG) opened at $46.00 on Friday. The firm has a market cap of $6.08 billion, a price-to-earnings ratio of 19.21, a P/E/G ratio of 1.92 and a beta of 1.03. The company has a debt-to-equity ratio of 0.89, a current ratio of 1.74 and a quick ratio of 1.11.

Leggett & Platt, (NYSE:LEG) last posted its quarterly earnings data on Thursday, October 26th. The company reported $0.61 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.60 by $0.01. The business had revenue of $1.01 billion during the quarter, compared to the consensus estimate of $1.01 billion. Leggett & Platt, had a return on equity of 29.60% and a net margin of 8.75%. The company’s revenue was up 6.4% compared to the same quarter last year. During the same period in the prior year, the company earned $0.67 earnings per share. research analysts anticipate that Leggett & Platt, Incorporated will post 2.49 EPS for the current fiscal year.

Several equities analysts have commented on the stock. Piper Jaffray Companies set a $59.00 price target on shares of Leggett & Platt, and gave the company a “buy” rating in a research note on Monday, August 14th. Hilliard Lyons raised Leggett & Platt, from a “neutral” rating to a “long-term buy” rating and set a $66.00 price objective for the company in a report on Monday, July 24th. BidaskClub downgraded Leggett & Platt, from a “buy” rating to a “hold” rating in a report on Monday, July 31st. Zacks Investment Research raised Leggett & Platt, from a “sell” rating to a “hold” rating in a report on Tuesday, July 11th. Finally, SunTrust Banks, Inc. raised Leggett & Platt, from a “hold” rating to a “buy” rating and increased their price objective for the company from $50.00 to $53.00 in a report on Friday, September 22nd. They noted that the move was a valuation call. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating, two have assigned a buy rating and two have assigned a strong buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $54.29.

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Leggett & Platt, Profile

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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