The ING Groep NV Takes Position in Leggett & Platt, Inc. (LEG)

The ING Groep NV Takes Position in Leggett & Platt, Inc. (LEG)

ING Groep NV acquired a new position in Leggett & Platt, Inc. (NYSE:LEG) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 4,771 shares of the company’s stock, valued at approximately $244,000.

Several other large investors have also modified their holdings of LEG. PGGM Investments increased its stake in shares of Leggett & Platt by 378.9% in the second quarter. PGGM Investments now owns 627,027 shares of the company’s stock worth $32,047,000 after buying an additional 496,097 shares during the period. Bank of Montreal Can purchased a new position in Leggett & Platt during the second quarter worth approximately $15,286,000. JPMorgan Chase & Co. boosted its position in Leggett & Platt by 33.6% in the first quarter. JPMorgan Chase & Co. now owns 807,591 shares of the company’s stock worth $39,087,000 after buying an additional 203,020 shares in the last quarter. TIAA CREF Investment Management LLC boosted its position in Leggett & Platt by 28.7% in the first quarter. TIAA CREF Investment Management LLC now owns 519,236 shares of the company’s stock worth $25,131,000 after buying an additional 115,872 shares in the last quarter. Finally, BlackRock Institutional Trust Company N.A. boosted its position in Leggett & Platt by 2.9% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 3,777,136 shares of the company’s stock worth $182,813,000 after buying an additional 106,026 shares in the last quarter. Institutional investors own 66.41% of the company’s stock.

Shares of Leggett & Platt, Inc. (NYSE:LEG) traded up 0.02% on Friday, hitting $45.73. The stock had a trading volume of 652,626 shares. Leggett & Platt, Inc. has a 12 month low of $36.64 and a 12 month high of $54.63. The company has a 50 day moving average price of $48.60 and a 200-day moving average price of $49.95. The stock has a market cap of $6.11 billion, a PE ratio of 16.73 and a beta of 0.95.

Leggett & Platt (NYSE:LEG) last announced its quarterly earnings results on Thursday, July 28th. The company reported $0.66 EPS for the quarter, topping the consensus estimate of $0.62 by $0.04. The business had revenue of $958.90 million for the quarter, compared to analysts’ expectations of $1,000 million. Leggett & Platt had a net margin of 10.03% and a return on equity of 33.71%. The business’s quarterly revenue was down 3.9% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.53 EPS. On average, equities research analysts anticipate that Leggett & Platt, Inc. will post $2.50 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 14th. Stockholders of record on Thursday, September 15th will be given a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a dividend yield of 2.97%. The ex-dividend date of this dividend is Tuesday, September 13th. Leggett & Platt’s dividend payout ratio is 49.64%.

A number of research firms recently commented on LEG. Zacks Investment Research cut Leggett & Platt from a “buy” rating to a “hold” rating in a research note on Tuesday, July 12th. Raymond James Financial Inc. reissued a “market perform” rating on shares of Leggett & Platt in a research note on Monday, August 1st. Citigroup Inc. cut Leggett & Platt to a “market perform” rating in a research note on Monday, August 1st. Finally, Hilliard Lyons cut Leggett & Platt from a “neutral” rating to an “underperform” rating in a research note on Friday, July 29th.

In other news, insider Dennis S. Park sold 3,000 shares of the company’s stock in a transaction dated Thursday, September 1st. The shares were sold at an average price of $52.48, for a total transaction of $157,440.00. Following the sale, the insider now directly owns 276,697 shares in the company, valued at approximately $14,521,058.56. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Judy C. Odom sold 5,000 shares of the company’s stock in a transaction dated Tuesday, August 23rd. The shares were sold at an average price of $52.51, for a total transaction of $262,550.00. Following the sale, the director now owns 58,557 shares in the company, valued at $3,074,828.07. The disclosure for this sale can be found here. Insiders own 3.92% of the company’s stock.

Leggett & Platt Company Profile

Leggett & Platt, Incorporated is a manufacturer of engineered components and products found in homes, offices, automobiles and commercial aircraft. The Company operates in four segments: Residential Furnishings, Commercial Products, Industrial Materials and Specialized Products. The Residential Furnishings segment manufactures steel coiled bedsprings.

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