Linscomb & Williams Inc. Has $3.35 Million Position in Leggett & Platt, Incorporated (LEG)

Linscomb & Williams Inc. cut its holdings in Leggett & Platt, Incorporated (NYSE:LEG) by 1.3% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 63,715 shares of the company’s stock after selling 829 shares during the quarter. Linscomb & Williams Inc.’s holdings in Leggett & Platt, were worth $3,347,000 as of its most recent SEC filing.

Other institutional investors have also bought and sold shares of the company. Van ECK Associates Corp boosted its stake in shares of Leggett & Platt, by 7.4% in the first quarter. Van ECK Associates Corp now owns 2,122 shares of the company’s stock valued at $107,000 after buying an additional 147 shares in the last quarter. Oppenheimer Asset Management Inc. purchased a new stake in shares of Leggett & Platt, in the first quarter valued at approximately $126,000. Northwestern Mutual Wealth Management Co. boosted its stake in shares of Leggett & Platt, by 6.8% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 2,407 shares of the company’s stock valued at $127,000 after buying an additional 153 shares in the last quarter. OLD Mutual Customised Solutions Proprietary Ltd. boosted its stake in shares of Leggett & Platt, by 123.8% in the first quarter. OLD Mutual Customised Solutions Proprietary Ltd. now owns 2,686 shares of the company’s stock valued at $135,000 after buying an additional 1,486 shares in the last quarter. Finally, Exane Derivatives boosted its position in Leggett & Platt, by 132,500.0% during the second quarter. Exane Derivatives now owns 2,652 shares of the company’s stock worth $139,000 after purchasing an additional 2,650 shares in the last quarter. Hedge funds and other institutional investors own 68.86% of the company’s stock.

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In other news, insider Matthew C. Flanigan sold 19,589 shares of Leggett & Platt, stock in a transaction on 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 in the company, valued at approximately $7,909,100.76. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 1.78% of the stock is currently owned by company insiders.

Leggett & Platt, Incorporated (NYSE:LEG) traded up 0.678% during mid-day trading on Wednesday, reaching $48.295. The company’s stock had a trading volume of 244,858 shares. The firm has a market capitalization of $6.39 billion, a P/E ratio of 18.865 and a beta of 0.99. Leggett & Platt, Incorporated has a 52 week low of $43.17 and a 52 week high of $54.97. The firm’s 50 day moving average price is $46.47 and its 200 day moving average price is $50.17.

Leggett & Platt, (NYSE:LEG) last issued its quarterly earnings results on Thursday, July 27th. The company reported $0.64 earnings per share (EPS) for the quarter, missing the 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 firm had revenue of $989.30 million for the quarter, compared to analyst estimates of $1 billion. During the same quarter last year, the business posted $0.66 earnings per share. The firm’s revenue for the quarter was up 3.2% compared to the same quarter last year. On average, analysts anticipate that Leggett & Platt, Incorporated will post $2.43 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Friday, October 13th. Stockholders of record on Friday, September 15th will be given a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a dividend yield of 3.00%. The ex-dividend date is Thursday, September 14th. Leggett & Platt,’s dividend payout ratio (DPR) is presently 57.14%.

LEG has been the topic of a number of research analyst reports. Piper Jaffray Companies set a $59.00 target price on Leggett & Platt, and gave the stock a “buy” rating in a research report on Monday, August 14th. BidaskClub upgraded Leggett & Platt, from a “hold” rating to a “buy” rating in a research report on Saturday, June 17th. Zacks Investment Research downgraded Leggett & Platt, from a “hold” rating to a “sell” rating in a research report on Tuesday. Credit Suisse Group initiated coverage on Leggett & Platt, in a research report on Thursday, June 22nd. They set a “neutral” rating and a $56.00 target price on the stock. Finally, SunTrust Banks, Inc. upgraded Leggett & Platt, from a “hold” rating to a “buy” rating and boosted their target price for the stock from $50.00 to $53.00 in a research report on Friday, September 22nd. They noted that the move was a valuation call. Two research analysts have rated the stock with a sell rating, four have given a hold rating, three have issued a buy rating and two have given a strong buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $54.75.

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.

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

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