Skandinaviska Enskilda Banken AB publ Raises Stock Position in Leggett & Platt, Inc. (NYSE:LEG)

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Skandinaviska Enskilda Banken AB publ lifted its stake in shares of Leggett & Platt, Inc. (NYSE:LEG) by 23.8% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 7,795 shares of the company’s stock after acquiring an additional 1,500 shares during the quarter. Skandinaviska Enskilda Banken AB publ’s holdings in Leggett & Platt were worth $299,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Becker Capital Management Inc. boosted its stake in shares of Leggett & Platt by 28.4% during the second quarter. Becker Capital Management Inc. now owns 711,860 shares of the company’s stock valued at $27,314,000 after purchasing an additional 157,590 shares in the last quarter. Benjamin Edwards Inc. boosted its stake in shares of Leggett & Platt by 38.6% during the second quarter. Benjamin Edwards Inc. now owns 2,197 shares of the company’s stock valued at $84,000 after purchasing an additional 612 shares in the last quarter. Cidel Asset Management Inc. boosted its stake in shares of Leggett & Platt by 48.2% during the second quarter. Cidel Asset Management Inc. now owns 19,168 shares of the company’s stock valued at $860,000 after purchasing an additional 6,230 shares in the last quarter. Sawtooth Solutions LLC bought a new position in shares of Leggett & Platt during the second quarter valued at approximately $392,000. Finally, Migdal Insurance & Financial Holdings Ltd. boosted its stake in shares of Leggett & Platt by 76.1% during the second quarter. Migdal Insurance & Financial Holdings Ltd. now owns 9,636 shares of the company’s stock valued at $370,000 after purchasing an additional 4,164 shares in the last quarter. 77.33% of the stock is currently owned by institutional investors and hedge funds.

A number of research firms have recently issued reports on LEG. ValuEngine downgraded shares of Leggett & Platt from a “hold” rating to a “sell” rating in a research note on Tuesday, July 2nd. TheStreet downgraded shares of Leggett & Platt from a “b-” rating to a “c+” rating in a research note on Friday, May 31st. Finally, Raymond James downgraded shares of Leggett & Platt from an “outperform” rating to a “market perform” rating in a research note on Wednesday, July 24th. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and one has issued a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $42.00.

Shares of NYSE LEG traded up $0.68 during midday trading on Friday, reaching $38.98. 960,119 shares of the company’s stock traded hands, compared to its average volume of 887,712. The company has a market cap of $5.04 billion, a price-to-earnings ratio of 15.72, a P/E/G ratio of 1.20 and a beta of 1.08. Leggett & Platt, Inc. has a one year low of $33.48 and a one year high of $46.57. The company has a quick ratio of 1.16, a current ratio of 1.89 and a debt-to-equity ratio of 2.01. The stock’s 50 day simple moving average is $38.46 and its 200-day simple moving average is $40.08.

Leggett & Platt (NYSE:LEG) last announced its earnings results on Monday, July 29th. The company reported $0.64 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.63 by $0.01. The company had revenue of $1.21 billion during the quarter, compared to the consensus estimate of $1.28 billion. Leggett & Platt had a net margin of 6.44% and a return on equity of 27.47%. During the same period last year, the firm earned $0.63 earnings per share. Equities analysts predict that Leggett & Platt, Inc. will post 2.45 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Friday, September 13th will be paid a $0.40 dividend. The ex-dividend date is Thursday, September 12th. This represents a $1.60 annualized dividend and a yield of 4.10%. Leggett & Platt’s dividend payout ratio (DPR) is 64.52%.

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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