Waddell & Reed Financial Inc. boosted its stake in shares of Leggett & Platt, Inc. (NYSE:LEG) by 6.2% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 226,225 shares of the company’s stock after acquiring an additional 13,190 shares during the quarter. Waddell & Reed Financial Inc. owned 0.17% of Leggett & Platt worth $10,099,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Federated Investors Inc. PA acquired a new position in Leggett & Platt during the first quarter worth $138,000. Hilltop Holdings Inc. bought a new stake in shares of Leggett & Platt during the first quarter worth $200,000. Osborn Williams & Donohoe LLC bought a new stake in shares of Leggett & Platt during the second quarter worth $201,000. Confluence Wealth Management LLC bought a new stake in shares of Leggett & Platt during the second quarter worth $213,000. Finally, Signition LP bought a new stake in shares of Leggett & Platt during the second quarter worth $213,000. Hedge funds and other institutional investors own 77.46% of the company’s stock.

LEG traded down $0.14 during midday trading on Friday, reaching $38.92. 1,385,814 shares of the company were exchanged, compared to its average volume of 1,276,747. The company has a current ratio of 1.90, a quick ratio of 1.23 and a debt-to-equity ratio of 1.15. Leggett & Platt, Inc. has a one year low of $38.60 and a one year high of $51.99. The stock has a market cap of $5.70 billion, a P/E ratio of 15.82, a price-to-earnings-growth ratio of 1.57 and a beta of 0.84.

Leggett & Platt (NYSE:LEG) last released its quarterly earnings results on Thursday, July 26th. The company reported $0.63 EPS for the quarter, topping the Zacks’ consensus estimate of $0.61 by $0.02. The company had revenue of $1.10 billion for the quarter, compared to analyst estimates of $1.09 billion. Leggett & Platt had a return on equity of 27.73% and a net margin of 6.83%. Leggett & Platt’s revenue was up 11.4% compared to the same quarter last year. During the same quarter last year, the firm posted $0.64 earnings per share. As a group, equities analysts forecast that Leggett & Platt, Inc. will post 2.62 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Monday, October 15th. Stockholders of record on Monday, September 24th will be given a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a dividend yield of 3.91%. The ex-dividend date is Friday, September 21st. Leggett & Platt’s dividend payout ratio is currently 61.79%.

LEG has been the topic of several recent research reports. Zacks Investment Research upgraded Leggett & Platt from a “sell” rating to a “hold” rating in a report on Thursday, June 21st. ValuEngine upgraded Leggett & Platt from a “sell” rating to a “hold” rating in a report on Wednesday, August 22nd. One research analyst has rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $48.20.

In related news, insider Matthew C. Flanigan sold 15,672 shares of Leggett & Platt stock in a transaction that occurred on Thursday, August 23rd. The stock was sold at an average price of $46.00, for a total value of $720,912.00. Following the sale, the insider now owns 116,341 shares of the company’s stock, valued at approximately $5,351,686. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Matthew C. Flanigan sold 29,248 shares of the firm’s stock in a transaction that occurred on Monday, July 30th. The shares were sold at an average price of $44.09, for a total value of $1,289,544.32. Following the completion of the transaction, the insider now owns 115,039 shares of the company’s stock, valued at $5,072,069.51. The disclosure for this sale can be found here. Company insiders own 1.52% of the company’s stock.

Leggett & Platt Profile

Leggett & Platt, Incorporated designs and produces various engineered components and products worldwide. It operates through four segments: Residential Products, Furniture Products, Industrial Products, and Specialized Products. The Residential Products segment offers innersprings, wire forms, and machines to shape wire into various types of springs; industrial sewing/finishing machines, conveyor lines, mattress packaging, and glue-drying equipment, as well as quilting machines; and structural fabrics, carpet cushions, and geo components.

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

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